Vietnam to lower oil import tariffs by 10%

Vietnam’s Ministry of Finance has decided to lower import tariffs on oil products by between 5% and 10%, effective from February 1. As a result, the import tariff on diesel and fuel oil will be reduced by 5% to 15% and kerosene by 10% to 20%, the Nhan dan newspaper reported. Recently, the ministry mapped out a table of preferential import tariff on petroleum products in line with global prices, ranging between 15% and 30%. (January 28, 2010)