Hormuz crisis hits Southeast Asia: Vietnam urges WFH, Thailand shifts to 4-day week

Vietnam's Ministry of Industry and Trade has urged local businesses to encourage employees to work from home to help curb fuel consumption, amid escalating fuel prices and disruptions in supply triggered by the ongoing US-Israeli war on Iran, according to a report by NST. 

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In the capital city of Hanoi, long lines of cars and motorbikes were seen at petrol stations on Tuesday as people rushed to fill up.

The country has been heavily affected by these supply issues, particularly as it relies significantly on energy imports from West Asia.

In a statement issued on Tuesday, the ministry highlighted the importance of reducing the need for travel and transportation.

“Businesses need to encourage work-from-home when possible to reduce the need for travel and transportation,” the statement said.

Fuel prices in Vietnam have seen sharp increases, with petrol rising by 32%, diesel by 56%, and kerosene by 80% since the end of February. Petrolimex, one of the country’s top fuel traders, provided this data.

The ministry also called for businesses and individuals to refrain from hoarding or speculating on fuel, citing the potential negative impact on supply.

Prime Minister Pham Minh Minh took further steps to address the crisis by making phone calls to counterparts in Kuwait, Qatar, and the UAE on Monday, urging them to secure fuel and crude oil supplies.

Additionally, the Vietnamese government has decided to temporarily remove import tariffs on fuels, a measure set to last until the end of April.

Meanwhile, other Southeast Asian countries are also taking action to combat rising fuel prices due to West Asia tensions.

According to a Bloomberg report, Thailand's government has also approved full work-from-home arrangements for most government agencies to reduce energy consumption.

Danucha Pichayanan, secretary-general of the National Economic and Social Development Council, said the decision was part of emergency measures to tackle energy demand risks.

The government has implemented a four-day work week for public offices as part of efforts to save energy during the ongoing crisis.