Vietnam’s national bureau responsible for implementing Protocol 5, the ASEAN Scheme of Compulsory Motor Vehicle Insurance (VINABAI), has announced that Vietnam has successfully been connected with the ASEAN Compulsory Motor Insurance (ACMI) database system.
ACMI is a database system of compulsory insurance for motor vehicles within the ASEAN region. It is used as the central database for member countries who grant insurance for motor vehicles. As part of Protocol 5, insurers in member countries are required to be connected with the database system.
Vietnam is also set to be connected with the ASEAN Customs Transit System (ACTS), which will create an electronic single-window mechanism for goods transit procedures to step up the implementation of the ASEAN Framework Agreement on Facilitation of Goods in Transit (AFAFGIT).
Nguyen Anh Tuan, VINABAI chairman, said the successful connection is an affirmation that motor vehicles from ASEAN countries transiting Vietnam will have to participate in the compulsory insurance for motor vehicles. He noted this helps promote the flow of vehicles and goods through borders in the ASEAN region.
Ahn Tuan said owners of motor vehicles will have to make sure to bring with them insurance papers so that authorities in member countries can check at borders.
In April 2001, regional finance ministers signed on the memorandum of understanding on the official use of the AMCI system to implement the AFAFGIT, which requires each member country to set up a national bureau to grant insurance certificates as proof of insurance cover. This helps settle accidents caused by vehicles in foreign territories.
Have thoughts about this story? Let us know in the comments below.
