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Vietnam economic policy and tax adjustments

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2026-10-28 01:44 UTC → 2026-10-28 12:48 UTC · added ~~removed~~

The Vietnamese government is evaluating various fiscal and energy measures to support domestic industry and reduce living costs. The Ministry of Finance has drafted a decree to extend the 0% tax incentive for automobile production and assembly until the end of 2032, aiming to provide stability for manufacturers to invest in technology and global supply chain integration. To support social security for citizens and businesses, Deputy Prime Minister Nguyen Van Thang has directed officials to develop plans to reduce average retail electricity prices and consider reducing the special consumption tax on all types of gasoline to 0%. These energy and fuel adjustments are proposed to run from November 1, 2026, through March 31, 2027. Vietnam Electricity (EVN) has been tasked with calculating cost-saving measures to lower retail electricity prices, with the Ministry of Industry and Trade overseeing the proposal. Concurrently, the Ministry of Finance is coordinating with the Ministry of Industry and Trade and the Ministry of Justice to evaluate the legal feasibility and impact of the 0% gasoline tax. A final report on the tax reduction feasibility is due before November 1, 2026. Additionally, the Ministry of Industry and Trade is seeking feedback on a draft decision to restructure the five-tier retail electricity pricing system. Under this proposal, an estimated 94% of residential customers—specifically those consuming 800 kWh or less per month—could see a reduction in their electricity bills. Recent discussions indicate a potential shift from a six-tier to a five-tier system, which would expand the first tier to cover the initial 100 kWh.

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