– Bloomberg
HANOI: Deputy Prime Minister Ho Duc Phoc is requesting that all relevant authorities closely monitor the price movements of strategic goods in order to stop speculation, hoarding and price hikes.
The government has just issued a notice from the Price Management Steering Committee, headed by the deputy prime minister, after a meeting on the results of price management operations in the first 10 months of the year and the direction for price management in the remaining months of the year.
It is forecast that global and regional events will continue to develop rapidly and unpredictably in the remaining months of this year.
Policy adjustments by other countries according to the general situation will have an impact on price fluctuations of strategic goods in the world.
Meanwhile, domestically, the pressure from continuing to implement a market-price roadmap for state-managed goods; the strength of the US dollar, which increases the cost of importing raw materials; risks of natural disasters; and high consumer demand at the end of the year require ministries and provincial authorities to continue to actively monitor the situation.
Officials have been asked to work on analysing and forecasting market prices to proactively prepare solutions and management measures for price hikes and promptly advise the government and the prime minister on solutions suitable to the situation to control inflation according to the set targets.
To proactively respond to challenges in price management in the remaining months of the year, Deputy Prime Minister Phoc requested government ministries and provincial authorities to focus on closely monitoring the price movements of strategic commodities in the world market and developments in the international and regional geopolitical landscape.
The relevant ministries have been asked for analysis, forecasting and prompt warnings of risks affecting price levels in the country and to rapidly advise competent authorities so that appropriate measures and responses can be put in place to keep inflation at about 4% in accordance with a resolution by the National Assembly.
In addition, the deputy prime minister also requested authorities to focus on ensuring the balance of supply and demand of goods by proactively stockpiling essential consumer items to fully meet the consumption needs of the people at the end of the year and the upcoming Tet (Lunar New Year) period.
They should also ensure the smooth supply of goods through well-organised distribution channels and hold promotion programmes to stimulate consumption. — Viet Nam News/ANN
