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Proposed Tax Hike Threatens Vietnam’s Beer Market

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Vietnam’s Finance Ministry is proposing a hike in special consumption tax on alcoholic drinks to 100% by 2030.

Under the draft, the tax on beer and strong liquor will first be raised to 70-80% by 2026 from the current 65%.

“Alcoholic drinks and beer prices will increase by 20% in 2026, compared with 2025,” the finance ministry estimates.

“Levying high tax rates is necessary to help reduce consumption of alcoholic drinks,” the draft says.

Vietnam’s beer industry is dominated by Dutch Heineken, Danish Carlsberg, and local Sabeco and Habeco. However, the beer market has been hit by the country’s strict drink and driving law, under which the alcohol content limit for drivers is zero since 2019.

Heineken Vietnam Brewery is the current market leader with a 37.6% share. But the company recorded a 24% decline in total consumption last year, according to a report from FPT Securities.

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