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Vietnam plans to cut MFN tariff on gasoline to fight inflation

MFN Vietnam Inflation Hanoi

A man walks past mannequins outside a clothing store in Hanoi on Wednesday. (AFP photo)

HANOI: Vietnam plans to cut its Most Favoured Nation (MFN) tariff on gasoline to 12% from 20% to help ease inflationary pressure, the government said on Thursday.

The move will also help Vietnam diversify its sources of gasoline imports and reduce its reliance on its key suppliers including South Korea and its neighbours in Southeast Asia, the government said in a news release.

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