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Home >> Business
UPDATED: 14:41, August 23, 2006
Vietnam discourages import of some industrial products
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Vietnam discouraged imports of some industrial items that can be domestically produced, including transport means and construction materials, according to local newspaper Investment on Wednesday.

The items include means of transport and their spare parts, construction materials, materials necessary to operation of the local oil and gas industry, and materials and semi-finished goods used in the shipbuilding industry, the newspaper quoted sources from the country's Ministry of Planning and Investment as saying.

They will not be subject to any reduction or elimination of tariff or value added tax when being imported to Vietnam, the newspaper said.

Vietnam will, from Sept. 15, reduce import taxes on 400 goods, including electronics, refrigerators, automobile parts and motorbikes, as part of international commitments.

Vietnam imported goods worth nearly 24.8 billion U.S. dollars in the first seven months of this year, posting year-on-year rise of 16.5 percent, according to the country's General Statistics Office.

Source: Xinhua


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