YANGON, May 30: Myanmar's Ministry of Commerce has announced a new program allowing owners of old and unserviceable vehicles to replace them with imported electric vehicles (EVs), the local daily The Mirror reported on Friday.
In a notification dated May 28, the ministry said the program is part of efforts to reduce fuel consumption, improve road safety, and cut environmental pollution, the report said.
The program applies to vehicles that are more than 20 years old from the year of manufacture, vehicles that can no longer be repaired to ensure safe driving, and vehicles less than 20 years old whose owners voluntarily wish to surrender them, it said.
Under the program, owners who submit a Vehicle Deregistration Certificate Form issued by the Road Transport Administration Department will be eligible to apply for the import of one suitable EV based on the type and value of the surrendered vehicle, it said.
The approval process will be reviewed by the National-Level Leading Committee for the Development of Electric Vehicles and Related Industries, the report said.
In addition, the required foreign currency for the import of the electric vehicles will be sold by the Central Bank of Myanmar at an appropriate exchange rate, it added.
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