Finance Ministry proposes cutting fuel import tariff to 0% to stabilize supply
(VOVWORLD) - The Ministry of Finance has proposed reducing the most-favoured-nation (MFN) import tariff on several gasoline and oil products and input materials to 0% as a temporary measure to stabilise domestic supply and help safeguard national energy security amid growing global uncertainties.
 Illustrative image (Photo: Nhan Dan Newspaper) |
The Ministry said the global situation remains volatile, particularly due to tensions in the Middle East, which have caused sharp fluctuations in energy prices and disrupted global fuel supply chains.
Vietnam currently imports most of its oil and gas products from ASEAN countries and South Korea, benefiting from 0% import tariffs under free trade agreements (FTAs). However, amid global supply disruptions, sourcing refined fuel from these markets could also become more difficult.
Maintaining the current tariff structure could therefore create obstacles for Vietnam in ensuring stable supply and price control.