According to information from the Vietnam Drink Research Institute, in recent times, the beverage industry has been continuously affected by many factors from epidemics, domestic and foreign instability, affecting the growth of the entire beverage industry.
According to information from the Institute for Comprehensive Drink Research, the growth of the whole industry has shown signs of decline/negative growth and this sign becomes more obvious in 2025.
The growth rate of the whole industry in the period of 2019 - 2022 reached 3.2%, but by the period of 2022 - 2024, the growth slowed down to 1.0%, reflecting a clear weakening of purchasing power and consumer demand. By July 2025, negative growth -7.8% compared to the same period last year, marking a shift from slow growth to real decline. Especially in some groups of soft drink products, specifically as follows:
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 consumer stimulation plays a key role.
Mr. Tuan noted that the beverage industry is facing many difficulties, the National Assembly has considered postponing the time to apply special consumption tax so that businesses have 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 can affect the investment environment and overall growth.
Economist Nguyen Duc Kien - former Deputy Chairman of the National Assembly's Economic Committee, said that the 2026 - 2030 period 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 2.83%, while inflation continues to escalate. These fluctuations directly affect Vietnam's response policy, forcing appropriate steps to meet conditions, circumstances and development goals.
Data for the first 8 months of 2025 shows many bright spots: The policy of encouraging private investment according to Resolution No. 68 initially took effect; exports increased; the consumer market was bustling thanks to big holidays. However, the recovery of production is not stable, inflation is under great pressure; growth drivers outside of public investment and government spending are still limited.
Domestic production still depends heavily on exports, while in the last months of the year, it faces challenges: Purchasing power in key markets weakens, inventories of goods are high, competitive pressure increases as many countries shift export direction. Mr. Kien emphasized that Vietnam needs to focus more on domestic consumption to achieve the expected growth target.
It is necessary to consider allowing this group of goods to continue to receive a 2% VAT reduction
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 policies on currency, fiscal, and trade; at the same time, promote national distribution channels and promotion programs.
However, Mr. Tuan noted that the beverage industry has many characteristics. For alcoholic products such as alcohol and beer, enterprises are not entitled to a 2% VAT reduction policy according to Resolution No. 204/2025/QH15. The Government has issued Decree No. 174/2025/ND-CP extending the policy of reducing VAT by 2% until the end of 2026, but excluding the group of goods and services subject to special consumption tax (SCT).
However, many businesses expect to remove more difficulties in applying tax policies to sugary soft drinks over 5g/100ml. The product will be subject to special consumption tax from January 1, 2027 but will not receive a 2% VAT reduction in 2026. According to Mr. Tuan, it is necessary to consider allowing this group of goods to continue to receive a 2% VAT reduction until the end of 2026, before applying the special consumption tax.
In fact, in the past time, the Government has paid great attention to removing difficulties for businesses, the Government leaders chaired a meeting with the Advisory Council for Policy on Macroeconomic Stabilization, discussing solutions to support businesses, including removing tax difficulties for the beverage industry.
"In the context of little room for monetary policy, stimulus from fiscal policy is considered an important solution," said Mr. Dau Anh Tuan.
