Vietnam’s Ministry of Industry and Trade (MOIT) has introduced new regulations to streamline fuel trading operations, eliminate outdated policies, and enhance reporting requirements for oil storage facilities.
These regulatory reforms are expected to improve market transparency and ease administrative burdens on businesses.
One of the most notable changes is the dissolution of the Inter-Ministerial Task Force on Fuel Price Regulation. This task force previously managed the calculation and regulation of fuel price stabilization funds.
Additionally, Circular 18 introduces mandatory reporting requirements for fuel storage facilities. Both fuel trading companies and distributors must now submit quarterly reports on storage usage and rental agreements to the MOIT and relevant local trade departments.
Impact on Vietnam’s fuel market
These deregulatory measures are expected to simplify business operations, enhance transparency, and reduce administrative hurdles for fuel traders, distributors, and retailers.
The removal of the price regulation task force signals a shift toward more market-driven fuel pricing policies, while enhanced reporting requirements will improve oversight of fuel supply chains.
Vietnam’s fuel market has undergone major reforms in recent years, with an emphasis on liberalization, increased competition, and digital reporting mechanisms to modernize fuel distribution networks.
Full story Vietnam eases fuel business regulations, abolishes price control task force
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