Vietnam to lower electricity tariff and suspend gasoline tax from November 1
The average electricity tariff will drop by 2 per cent, while the gasoline tax suspension will run until the end of March.
Vietnam will reduce electricity charges and temporarily set its gasoline special consumption tax at zero from November 1, the government announced on October 31. It said the measures were intended to ease household and business costs and support economic stability.
The 2 per cent reduction will bring the average retail electricity tariff to ₫2,159.9 per kilowatt-hour before value-added tax, according to the government.
The gasoline tax, currently 7 per cent-10 per cent, will remain at zero until the end of March. The government said its decision also aimed to support social welfare and business activity.
Vietnam is targeting annual economic growth above 10 per cent. To achieve that goal, growth in the fourth quarter must exceed 12.5 per cent.
