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Ministry of Industry and Trade (MOIT) has introduced new regulations to streamline fuel trading operations, eliminate outdated policies, and enhance reporting requirements for oil storage facilities.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.

Key regulatory changes under Circular 18

On March 13, 2025, the MOIT issued Circular 18, amending and abolishing several regulations governing fuel trading.

One of the most notable changes is the dissolution of the Inter-Ministerial Task Force on Fuel Price Regulation, which was established under Joint Circular No. 39/2014/TTLT-BCT-BTC. This task force previously managed the calculation and regulation of fuel price stabilization funds, in accordance with Decree No. 83/2014/ND-CP.

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.

New reporting obligations for fuel storage businesses

Under the revised law, fuel wholesalers and distributors that own or lease fuel storage facilities must submit quarterly reports detailing:

Storage facility name and location

Total storage capacity

Tenant details (for storage rental agreements)

Fuel throughput during the reporting period

Fuel traders leasing storage facilities must also report:

Name and address of the leased facility

Owner of the storage facility

Leased tank capacity

Total fuel volume stored during the quarter

All reports must be submitted by the 10th day of the first month of the following quarter to both the MOIT and local trade authorities.

New guidelines for fuel retail agencies

Circular 18 also updates licensing and certification requirements for fuel retailers.

Fuel agents contracting with two or more suppliers (either wholesalers or distributors) must submit updated agency contracts for approval by regulatory authorities.

Single-store fuel retailers contracting with multiple suppliers must apply for revised certification confirming their eligibility to operate.

Additionally, the requirement for fuel wholesalers to obtain a separate "General Agent Qualification Certificate" has been abolished. Existing certificates remain valid, but no new applications will be required.

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.

Hanh Nguyen