Forex Crisis: Vehicle Import Down

Importation of vehicles into the country has reduced, following the sharp rise in the cost of foreign exchange.

In the last six months, the import dropped from 30,000 units to 6,000.

Operation manager of terminal multi-verse-limited, Jack Angrish, who made this known, said the development has created an opportunity for local vehicle business operators to collaborate on local vehicle manufacturing.

He, however, expressed concern that the loss of revenue by port authorities on vehicle being exploited by deep seaports in Cotonou and Lome.

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