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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Wednesday, July 16, 2025

Fuel retailers cry for help

By Van Ly

Must read

HANOI – Petrol retail enterprises said they would have to cease business in the next few months if relevant policies are not revised.

The volatile fuel market has pushed retailers into difficulties this year and the situation has only worsened in the past two months. 

Petrol agents can hardly maintain their business operations under the current circumstances, business executives said at a conference on September 21. 

Speaking at the conference, the board chairman of Son Hai Petroleum Joint Stock Company, Nguyen Duc Hanh, said the commission offered by major fuel trading enterprises has dropped since July, ranging from VND50 to VND100 per liter or even no commission at some points.

Petrol retailers have tried to maintain their operations despite losses, he added. Their business licenses will be indefinitely revoked if they shut down.

Vietnam has some 17,000 fuel retailers, 75% of which are small and medium, said a representative of My Bao Company.

“The current mechanism would kill private-owned, small- and medium-sized retail enterprises, thereby posing a challenge to the Government’s target of having 1.5 million enterprises by 2025,” My Bao Company’s representative said.

Le Thi Nha, a representative of Van Phuc Petroleum Company Limited, proposed abolishing the regulation that gas stations can buy fuels from just one distributor, saying that this regulation discourages competition and make life difficult for retailers.

Ngo Trung Son, a representative of Trung Son Petroleum Company, proposed shortening the time limit of the price regulation to three days, including weekends and public holidays.

Hoang Anh Tuan, deputy head of the Ministry of Industry and Trade’s domestic market department, said he would report the opinions of fuel retailers to the competent authorities.

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