Vietnam Axes Clinker Tariff
Posted on: Thursday, 22 May 2008, 09:00 CDT
Vietnam axes clinker tariff
HANOI, May 21 (Xinhua) -- Vietnam has decided to slash import taxes to zero percent from current 5-10 percent on clinker, key material for cement production, according to a local finance agency on Wednesday.
Under a decision of the Finance Ministry on May 19, the new tariff will take effect 15 days after final publication, the finance's Tax Policy Department said, noting that Vietnam currently imposes an import tax of 5 percent on clinker imported from the Association of Southeast Asian Nations (ASEAN), and that of 10 percent on the material from non-ASEAN countries and regions.
Vietnam is estimated to import 4 million tons of clinker this year, up some 8 percent against last year, according to the Trade Information Center under the country's Ministry of Industry and Trade.
Vietnam imported nearly 3.7 million tons of clinker, mainly from Thailand in 2007, down 4.1 percent against 2006. It is intensifying production of clinker, so it will not have to import the material in 2009.
(c) 2008 Xinhua News Agency - CEIS. Provided by ProQuest Information and Learning. All rights Reserved.
Source: Xinhua News Agency - CEIS
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