Experts give advice on stimulating consumption and removing obstacles for the beverage industry

(Chinhphu.vn) - Economic experts and beverage industry businesses have analyzed the economic picture, pointed out problems in tax policies, and recommended timely adjustments to stimulate consumption, support businesses to overcome difficulties and contribute to achieving growth targets.

Seminar "Stimulating consumption for economic growth - perspective from the beverage industry" - Photo: VGP/HT

Global economic picture, solutions to stimulate domestic consumption

Speaking at the seminar "Stimulating consumption for economic growth - perspective from the beverage industry" held on September 25, economic expert Nguyen Duc Kien - former Deputy Chairman of the National Assembly 's Economic Committee analyzed the overall international context and its impact on Vietnam.

Mr. Kien emphasized that the period 2026-2030 will be an important time to shape the world economic model and also the period when Vietnam strives to achieve the double-digit growth target. However, the global geopolitical situation is complicated with many new hot spots.

In that context, global growth is forecast to be only 2.8–3%, while inflation continues to escalate. These fluctuations directly impact Vietnam’s response policies, forcing it to take steps appropriate to conditions, circumstances and development goals.

Figures for the first eight months of 2025 show many bright spots: the policy to encourage private investment under Resolution No. 68 has initially taken effect; exports have increased; the consumer market is vibrant thanks to major holidays. However, production recovery is not stable, inflation is under pressure; growth drivers other than public investment and government spending remain limited.

Domestic production still depends heavily on exports, while the final months of the year face challenges: weak purchasing power in key markets, high inventory, and increased competitive pressure as many countries shift to exports. Mr. Kien emphasized that Vietnam needs to focus more on domestic consumption to achieve the expected growth target.

Economist Nguyen Duc Kien - former Deputy Chairman of the National Assembly's Economic Committee speaks - Photo: VGP/HT

Mr. Dau Anh Tuan – Deputy General Secretary of the Vietnam Federation of Commerce and Industry (VCCI) proposed specific solutions to support businesses and people, aiming to stimulate domestic consumption. According to Mr. Tuan, it is necessary to synchronously implement monetary, fiscal and trade policies; at the same time, promote distribution channels and national promotion programs.

However, Mr. Tuan noted that the beverage industry has many specific characteristics. For alcoholic products such as wine and beer, businesses are not entitled to the 2% VAT reduction policy according to Resolution No. 204/2025/QH15. The Government has issued Decree No. 174/2025/ND-CP extending the 2% VAT reduction policy until the end of 2026, but excluding goods and services subject to special consumption tax (SCT).

However, many businesses expect to see more difficulties in applying tax policies to soft drinks with sugar content over 5g/100ml. The product will be subject to special consumption tax from January 1, 2027, but will not enjoy a 2% VAT reduction in 2026. According to Mr. Tuan, it is necessary to consider allowing this group of products to continue to enjoy a 2% VAT reduction until the end of 2026, before applying special consumption tax.

In fact, recently, the Government has paid great attention to removing difficulties for businesses. Government leaders chaired a meeting with the Policy Advisory Council on macroeconomic stability, discussing solutions to support businesses, including removing tax difficulties for the beverage industry.

"In the context of limited monetary policy space, fiscal policy stimulus is considered an important solution," said Mr. Dau Anh Tuan.

Mr. Dau Anh Tuan - Deputy General Secretary of the Vietnam Federation of Commerce and Industry (VCCI) informed - Photo: VGP/HT

Policy problems and recommendations for solutions

Tax expert Nguyen Thi Cuc - President of the Vietnam Tax Consultants Association (VTCA) analyzed: Special Consumption Tax Law No. 66 was passed by the National Assembly with a roadmap to apply from January 1, 2027 for soft drinks with sugar content of more than 5g/100ml. The expected tax rate is 8% from 2027 and will increase to 10% from 2028.

Ms. Cuc said that the National Assembly had carefully considered postponing the implementation time to reduce difficulties for businesses. However, in 2026, there will be problems: soft drinks with sugar over 5g/100ml will not enjoy the 2% VAT reduction, while not yet subject to special consumption tax. This leads to a lack of consistency in tax policy.

"To ensure business interests and consistency, it is necessary to allow this item to continue to enjoy a 2% VAT reduction until the end of 2026. If Decree No. 174/2025/ND-CP and Appendix 2 are not adjusted, businesses will face difficulties in implementation," said Ms. Nguyen Thi Cuc.

Dr. Nguyen Anh Tuan - Chairman of the Vietnam Association of Foreign Investment Enterprises (VAFIE) made a proposal - Photo: VGP/HT

From the perspective of businesses and FDI experts, Dr. Nguyen Anh Tuan - Chairman of the Association of Foreign Investment Enterprises (VAFIE) said: Vietnam's double-digit economic growth target is very high. In that context, it is necessary to maximize growth drivers, in which stimulating consumption plays a key role.

Mr. Tuan noted that the beverage industry is facing many difficulties, and the National Assembly has considered postponing the application of special consumption tax to give businesses time to recover. However, it is necessary to ensure consistency between VAT and special consumption tax policies. Any decline in FDI enterprises due to policies could also affect the investment environment and overall growth.

From an international perspective, Ms. Bui Thi Viet Lam, representative of the US-ASEAN Business Council (USABC), said that US tariff policies and global trade barriers are having a strong impact on exports and investment. The Vietnamese beverage industry has the participation of many US businesses, so it is necessary to pay more attention to a favorable, transparent and predictable business environment.

Ms. Lam emphasized that maintaining the policy of reducing VAT by 2% for sugary soft drinks in 2026 is very necessary to help businesses overcome difficulties and recover before being subject to special consumption tax from 2027. USABC will send an official document to the Ministry of Finance proposing to amend Appendix 2 of Decree No. 174/2025/ND-CP, considering this a positive signal for the US business community in Vietnam.

Presenting the viewpoint from the management agency, Mr. To Thanh Tung - Chief Specialist of the Department of Tax, Fee and Charge Management Supervision recorded the opinions of businesses and experts to report to competent authorities for consideration.

Law 66 on special consumption tax was passed and took effect from January 1, 2026, in which soft drinks with sugar content over 5g/100ml were subject to tax from January 1, 2027, partly to create conditions for businesses to have more time to prepare.

"Personally, I think that, for the group of products with sugar content of 5g/100ml, if they want to stimulate consumption, businesses and soft drinks should study and change the product formula to be suitable under the level of special consumption tax. According to Article 2 of Law 66, the subject of special consumption tax is soft drinks with sugar content of 5g/100ml. Therefore, Decree 174 stipulated in Appendix 2 on the List of goods subject to special consumption tax that are not entitled to VAT reduction has included this item. Currently, the Ministry of Finance is soliciting opinions on the draft Decree implementing the law on special consumption tax, requesting businesses, ministries, branches and experts to give their opinions. It is expected to be submitted to the Government in the near future," Mr. To Thanh Tung added.

Mr. Minh

Source: https://baochinhphu.vn/chuyen-gia-gop-y-kich-cau-tieu-dung-thao-go-vuong-mac-cho-nganh-do-uong-102250925185627371.htm