Yangon Regional Government plans to implement a new Yangon Vehicle Quota Certificate (YVQC) system for car importers in October 2018

The much-touted Yangon Vehicle Quota Certificate (YVQC) system for car importers will start in Yangon in October, said U Phyo Min Thein, the region’s chief minister, during a press conference on August 24.

Under the new vehicle registration system, buyers will be allowed to bid for a YVQC, which gives them the right to apply for a license to import and own a vehicle in Yangon for a fixed period. Bidders can bid between K3 million and K9 million for the certificate.  The system was originally supposed to commence in April.

‘’We are now preparing to issue Yangon licences for individual car importing under the YVQC system in October, after which we will be able to control the quota for cars imported into Yangon,” U Phyo Min Thein remarked.

The decision is significant as it could spur more demand for imported vehicles and generate growth in the industry. It also comes after months of deliberating the practicality of implementing YVQC over the existing system of using parking recommendation letters to purchase a vehicle.

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