Vietnam to impose 20 pct tariffs on mineral exports

HANOI, June 10 (Reuters) - Vietnam's Finance Ministry said on Tuesday it would raise the tariffs on mineral exports including crude oil and coal to 20 percent from 8 percent and 15 percent respectively.

"The export tariff increases are aimed at reducing exports and encouraging domestic processing," the Finance Ministry said on its Web site (www.chinhphu.vn).

The new tax regime is effective from June 16, the Ministry said. (Reporting by Nguyen Nhat Lam; Editing by Anshuman Daga)