Vietnam considers electricity price cuts and gasoline tax reductions

Vietnamese authorities are reviewing measures to reduce living and business costs through energy and fuel adjustments. During a recent meeting involving the Ministry of Finance, the Ministry of Industry and Trade, and Vietnam Electricity (EVN), Deputy Prime Minister Nguyen Van Thang directed EVN to calculate cost-saving measures to lower average retail electricity prices.

The proposed electricity price reduction is intended to run from November 1, 2026, through March 31, 2027, to support social security for citizens and businesses. Additionally, the Ministry of Finance is tasked with assessing the legal feasibility of reducing the special consumption tax on all types of gasoline to 0% for the same period. A final report on the tax reduction feasibility must be completed before November 1, 2026.