HANOI, Dec 27 (Reuters) - Vietnam said on Friday it has decided to delay the implementation of a policy under which tariffs on imported car parts would have risen sharply.
The December decision would have resulted in a doubling or, in some cases, quadrupling of tariffs from January 1 on imported parts for the small but rapidly growing auto-making industry.
"The Finance Minister has today issued a notice to delay the implementation of the decision No.146," the head of the ministry's General Tax Department Nguyen Van Ninh told Reuters.
The Vietnam Automobile Manufacturers' Association said earlier this month the tariff hike on parts would raise retail prices of cars by at least 15 percent next year and by 35 percent in 2004.