Vietnam Auto Parts Tariff To Rise Sharply - Vietnamese Ministry of Finance suggests auto part tariff hikes - Brief Article

Autoparts Report, March 4, 2003

Vietnam's Ministry of Finance has proposed a graduated increase in auto part tariffs to a ceiling of 50 percent by 2005

The government agency has recommended that the import tax on auto components, currently at 20 percent, rise to 30 percent by April 1, 2003, 40 percent by January 1, 2004, and 50 percent by the following year, according to sources in Vietnam. Previously, the tariff hike was to have taken place all at once.

Vidamco, or Vietnam Daewoo Motor Co, is a member of the Vietnam Automobile Manufacturers Association (VAMA) that lobbied against the tariff increase. Other members are Germany's Mercedes-Benz and Japan's Toyota Motor Co.