Do not allow speculation, hoarding, or price hikes in the last months of 2024

The Government Office has just issued Notice No. 511/TB-VPCP on the conclusion of Deputy Prime Minister Ho Duc Phoc - Head of the Steering Committee for Price Management at the Steering Committee meeting on the results of price management and operation in the first 10 months of 2024, and orientation for price management in the remaining months of 2024.

Focus on closely monitoring price movements of strategic goods in the market; do not allow speculation, hoarding, or price hikes to occur.

The conclusion announcement stated that, in order to stabilize the macro economy , control inflation according to the targets set by the National Assembly and implement the market price roadmap for public services and goods managed by the State, since the beginning of the year, ministries, branches and localities have actively implemented solutions under the direction of the Government, the Prime Minister and the Steering Committee for Price Management such as: ensuring smooth and increasing the supply of essential goods and services to meet people's consumption needs; closely monitoring the supply and demand developments and market prices of essential goods to have appropriate management measures; promptly issuing national reserve goods to support and provide relief to people affected by storms and floods; promoting the recovery of agricultural production after storms; focusing on and strengthening price management and operation during Tet holidays, natural disasters and storms and floods; promptly preparing a price management plan for State-priced goods and public services according to the market roadmap; Proactively, flexibly, promptly and effectively operate monetary policy; continue to implement support policies on taxes, fees and charges to support people and businesses.

In the remaining months of 2024, the forecast for the world and regional situation is that it will continue to evolve rapidly, complicatedly, and unpredictably. Adjusting policies of countries according to the general situation will have an impact on price fluctuations of strategic commodities in the world. In the country, the pressure from continuing to implement the market price roadmap for State-managed commodities; the exchange rate between the Vietnamese Dong and the US Dollar remains high, increasing the cost of importing raw materials; risks of natural disasters, storms, floods, unfavorable weather for production; high consumer demand at the end of the year... requires ministries, branches, and localities to continue to actively monitor closely, grasp the situation, do a good job of synthesizing, analyzing, and forecasting market prices to proactively have solutions and management measures within their authority, promptly advise the Government and the Prime Minister on solutions suitable to the actual situation to control inflation according to the set targets.

Closely monitor supply and demand and market prices

To proactively respond to challenges in price management in the remaining months of 2024, the Deputy Prime Minister requested ministries, branches and localities, according to their assigned functions and tasks, to proactively promote the drastic, timely and effective implementation of tasks and solutions set out in the Government's Resolutions, Official Dispatches, Directives, and directives of the Prime Minister, Notices No. 36/TB-VPCP dated January 31, 2024, Notice No. 193/TB-VPCP dated May 3, 2024, Notice No. 274/TB-VPCP dated June 24, 2024.

In particular, focusing on closely monitoring price developments of strategic commodities in the world market, developments in the international and regional situation, proactively analyzing, forecasting, promptly warning of risks affecting domestic price levels, promptly implementing according to authority or proposing, advising competent authorities on appropriate, flexible, effective measures, solutions, and response scenarios, ensuring the target of controlling inflation in 2024 in accordance with the Resolution of the National Assembly, striving for about 4%.

At the same time, improve the quality and efficiency of synthesizing, analyzing and forecasting market prices; properly implement the regime of reporting market prices periodically every month, quarter, year and suddenly according to the provisions of Decree No. 85/2024/ND-CP, Circular 29/2024/TT-BTC, send to the Ministry of Finance for synthesis, report to the Prime Minister and the Head of the Price Management Steering Committee according to regulations.

In addition, focus on ensuring the balance of supply and demand of goods, proactively stockpiling essential consumer goods to fully meet the consumption needs of the people at the end of the year and the upcoming Lunar New Year. Ensure smooth supply, circulation and distribution of goods, organize distribution channels well, trade promotion programs, stimulate consumption, support the consumption of goods and products, and make the most of the domestic market. Promote the role of key enterprises, trade centers and supermarkets participating in the market stabilization program, contributing to ensuring supply and stabilizing domestic prices.

Create a favorable environment for business development, help increase supply, reduce pressure on price increases

Ministries, branches and localities, according to their assigned functions and tasks, continue to review and implement the roadmap for adjusting public service prices according to the market roadmap and State-managed goods according to market principles; conduct assessments and carefully calculate impacts to avoid causing major disruptions to price levels, greatly affecting people's lives, and ensuring the goal of controlling inflation.

Conduct monetary policy according to the set targets in coordination with fiscal policy and other policies to contribute to stabilizing the macro economy, controlling inflation, and ensuring major balances of the economy. Synchronously implement solutions to support poor households and disadvantaged families.

Flexibly and effectively use tools and measures to regulate prices according to the provisions of the law on prices to control and stabilize the market. Strengthen the effective implementation and supervision of price declaration and posting measures; publicize price information. Organize inspections and checks on compliance with the law on prices, strictly handle violations of the law on prices.

Ministries, ministerial-level agencies, and provincial People's Committees shall comprehensively study the provisions of the system of legal documents on prices in the 2023 Law on Prices and guiding documents; effectively organize the implementation of price management tasks under their authority and responsibility as prescribed.

Promote production and business activities, create a favorable environment for business development, help increase supply, thereby reducing pressure on price increases.

Strengthen the fight against smuggling and trade fraud to stabilize the market, protect the legitimate rights and interests of domestic enterprises and consumers, and contribute to preventing unfair price competition.

Ensuring gasoline supply for the domestic market in all situations

For specific items, the Deputy Prime Minister requested ministries, branches and localities, according to their assigned functions and tasks, to proactively organize close monitoring of supply and demand developments and market prices of items under their management in order to have appropriate management measures.

The Deputy Prime Minister assigned the Ministry of Industry and Trade to preside over and coordinate with relevant agencies to synchronously and effectively implement solutions to ensure the supply of gasoline for the domestic market in all situations and manage gasoline prices according to regulations; strengthen market inspection and supervision, strictly handle violations; absolutely do not allow shortages or interruptions in gasoline supply...

The Ministry of Industry and Trade directed the Vietnam Electricity Group to improve its management and find effective solutions to improve production and business activities to reduce electricity production costs, cut intermediary costs, and ensure a balanced power supply.

The Ministry of Construction and the Ministry of Natural Resources and Environment shall synchronously implement solutions to increase supply and handle legal procedural problems; localities shall publicly and transparently disclose information about licensed real estate projects (project name, investor, area, number of products, project completion date, etc.); review and take appropriate measures according to their authority and legal regulations for licensed but unimplemented real estate projects; promote solutions to develop social housing.

Restore agricultural production, ensure supply, and prevent food shortages in the last months of the year.

The Ministry of Agriculture and Rural Development coordinates with localities and the Ministry of Industry and Trade to closely monitor developments, supply and price situations of agricultural products, to prevent speculation, hoarding, price hikes, and taking advantage of natural disasters and floods for profit; promptly regulate supply and demand of goods to serve domestic needs, between regions, localities, and export needs to stabilize market prices; implement assigned solutions to support production recovery, direct the development of flexible and effective production plans and remedial measures to restore agricultural production, ensure food supply, and prevent food shortages in the last months of the year; coordinate with localities to synthesize needs, promptly report, and propose to competent authorities to decide on support for seeds, feed, chemicals, and necessary materials for localities to restore agricultural production.

The Ministry of Construction continues to strengthen inspection, supervision, urging and guiding localities in announcing prices and monthly construction material price indexes, ensuring that they are in line with market fluctuations. The Ministry of Construction and the Ministry of Natural Resources and Environment focus on handling issues related to the supply of raw materials to meet market demand, especially the implementation of key infrastructure projects.

The Ministry of Transport shall synchronously and effectively implement solutions to ensure and stabilize the air transport force to provide appropriate and balanced load on domestic/international routes and markets, well meeting the air travel needs of passengers, especially during the peak period at the end of 2024.

Regarding the price management of other important and essential goods, ministries, branches and localities, according to their assigned functions and tasks, proactively organize to closely monitor the developments of supply and demand and market prices of goods under their management to have appropriate and timely management measures, to avoid shortages and interruptions in goods sources, causing sudden and unreasonable price increases.

Source: https://baotainguyenmoitruong.vn/khong-de-xay-ra-tinh-trang-dau-co-gam-hang-day-gia-nhung-thang-cuoi-nam-2024-382817.html