Vietnam extends fuel tax exemptions and orders electricity price freeze

The Vietnamese government has announced several measures to stabilize the economy and control inflation through the end of 2026. Deputy Prime Minister Nguyen Van Thang signed Resolution No. 43/2026/NQ-CP, which extends preferential import taxes, environmental protection taxes, and value-added tax exemptions for gasoline, oil, and aviation fuel until December 31, 2026.

Specifically, the preferential import tax for several types of gasoline and diesel has been reduced to 0%. Environmental protection taxes for gasoline (excluding ethanol), diesel, kerosene, and aviation fuel will also remain at 0 VND/liter through the end of 2026. These policies aim to mitigate the impact of market fluctuations on the domestic fuel supply.

In a separate directive, Prime Minister Le Minh Hung emphasized the need for strict price controls to meet national economic targets. To achieve double-digit annual growth, the government aims for a GDP growth rate exceeding 12.5% in the fourth quarter. The Prime Minister instructed ministries and local authorities to ensure the supply of essential goods, including electricity, food, and fuel, while explicitly ordering that electricity prices must not be increased. Authorities are also tasked with cracking down on hoarding, speculation, and smuggling to maintain inflation targets.