Vietnam to Reduce Import Tariffs on Automobiles

According to a report from a Vietnam's economic newspaper, recently the Ministry of Finance of Vietnam sought for opinions on the reduction of import tariffs on automobiles in 2011 from relevant authorities and Vietnam automobile production association.

As planned by the Ministry of Finance: the import tariffs on automobiles with more than 10 seats shall be reduced to 70% from current 80%; and that on automobiles with less than 9 seats shall be reduced to 70%.