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- Good News on Electricity Prices and Fuel Excise Tax
Deputy Prime Minister Nguyễn Văn Thắng said the Government has directed Vietnam Electricity (EVN) to cut costs in order to reduce retail electricity prices by about 2% until 31 March 2027. From November to year-end, about 4,000 billion VND is planned for cutting the special consumption tax on petrol from 7% to 0%, on top of about 64,000 billion VND in fuel tax and fee reductions since the start of the year. GDP grew about 9.01% in the first nine months despite oil prices above USD 110 per barrel and additional US tariffs; reaching the 10% annual target requires 12.5% growth in Q4. Average CPI rose 4.52% in the first nine months, and the petrol tax cut and electricity price reduction are expected to create about 0.07 percentage points of room to keep inflation within the National Assembly's 4.5% target. As of 29 October, public investment disbursement exceeded 720,000 billion VND, above 75% of plan; full disbursement is expected to add about 2.5 percentage points to Q4 growth.
- Addressing Gaps in Business Travel Cost Control for Vietnamese Companies
According to GBTA, global business travel spending is forecast to reach 1.71 trillion USD in 2026, up 7.2%, while trip volume grows only 1.3%, and is expected to pass 2 trillion USD by 2030. In Vietnam, business travel spending is forecast to reach 6.0 billion USD in 2026, up 13.2%, the fastest growth in Southeast Asia, with the top five economic sectors accounting for 50.2% of the total. A GBTA survey found that 46% of employees use personal cards to earn better rewards, 40% said the reimbursement process takes too long, and 27% waited a long time to receive a corporate card after approval. At a forum in Ho Chi Minh City organized by Visa, speakers argued that companies should shift from post-trip audits to controlling spending at the point of decision and payment, by linking payment tools, policies and spending data.
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