New Open Approved Permit Policy
On 23 December 2015, the government announced the continuation of the Open Approved permit (AP) policy for used imported motor vehicles with a number of enhancements (the new Open AP policy) that are expected to be rolled out from early 2017. The new Open AP policy will result in the opening up of the used imported motor vehicles market to allow entry of new market players. It is noteworthy that existing companies which have been granted Open APs will also have to reapply for new Open APs under the new regime. This was followed by a recent announcement by the Ministry of International Trade and Industry on the eligibility criteria for the application of Open APs for 2017.