Summary of Vietnam Economic News: 31.10- 07.11.2026
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Summary of Vietnam Economic News: 31.10- 07.11.2026 ---
VIETNAM TO CUT RETAIL ELECTRICITY PRICE BY 2% FROM NOVEMBER 1
Reuters News – 31 October 2026
Vietnam will reduce its average retail electricity price by 2% from November 1 to support economic stability and lower costs for households and businesses, the government said on Saturday. The average retail tariff will fall to VND2,159.9 (US$0.085) per kilowatt-hour, excluding value-added tax, following a review of electricity pricing under existing regulations. The government said the reduction aims to maintain macroeconomic stability, support social welfare and ease operating costs for businesses.
GRAB AGREES TO DRIVER FEE CUTS AND DEDUCTION CAP IN VIETNAM
Reuters News – 5 Novemeber 2026
Vietnam’s competition commission said Grab has agreed to reduce certain fees charged to passengers and drivers and compensate drivers affected by excessive deductions following complaints about declining earnings and high commissions. Under six proposed measures, Grab will slightly reduce driver app usage fees, cap combined fees at 32% of the total amount paid by passengers, and reimburse approximately VND3.9 billion (US$151,869) to drivers after identifying excessive deductions on 0.13% of trips since 2024, partly caused by algorithm errors and supply-demand fluctuations. The review followed September protests in which Grab drivers called for a two-day boycott over falling incomes and opaque pricing policies. Grab also plans to spend VND912 billion on driver incentives and operating-cost support and VND1.8 trillion on passenger promotions in the fourth quarter, while the watchdog will continue monitoring compliance and may take further action if violations are found.
TESLA, SAMSUNG OPPOSE NEW US TARIFFS ON VIETNAM AS PROBE DEADLINE NEARS
Reuters News – 2 November 2026
US businesses are divided over whether Washington should impose additional tariffs on Vietnamese goods following an investigation into alleged intellectual property violations, with Tesla, Samsung and several retail and manufacturing groups opposing further duties, while US industry associations have called for penalties. The Trump administration must complete its investigation by November 29 after designating Vietnam a “priority foreign country” over concerns about inadequate intellectual property protection and enforcement. Tesla and Samsung argued that additional tariffs could disrupt US manufacturers' supply chains, as Vietnam is an important production base for their products and components. Retail groups representing footwear, apparel and consumer goods manufacturers also opposed higher duties. In contrast, US producers of steel, seafood, plywood, solar panels and wood products accused Vietnam of unfair trade practices and urged Washington to impose tariffs.