VOV: What products will remain stable in price?
Mr Xuan: World prices deeply affect domestic prices, not only in Vietnam but also in many other countries. The price adjustments after June must be suitable for each commodity and the state capacity to stabilize the market. We won’t adjust the prices immediately after June 30th but will adjust them according to a road map.
We will adhere to the Prime Minister’s guidelines for implementing the eight packages of measures to curb inflation, stabilize the macro-economy, and assure social security and sustainable development.
VOV: what should participants in the market do to avoid price hikes?
Mr Xuan: I believe that both citizens and enterprises should share this responsibility with the government, which has shouldered a great burden already. While the market is facing unexpected changes, the State should use its own tools – State-owned enterprises (SOEs). Hence, SOEs, including equitised ones in which the State holds the majority of shares, will continue to suffer losses as they must stabilise market prices.
For example, 11 key oil importers are all SOEs so they have strictly followed the Government’s guidelines on price adjustment. Therefore, the bottom line is how to harmonize the benefits between business, the State and the people.
According to Permanent Deputy Prime Minister Nguyen Sinh Hung, June is a sensitive time. “The Government will take an active role in stabilising market prices until the world’s economy has recovered, global prices level out and domestic production is able to cope with the situation” he said.
Nguyen Tien Thoa, Head of the Price Control Department under the Ministry of Finance (MoF) said: “From now to the end of June, the prices of oil and other essential goods will remain stable. After that, ministries and agencies will draw up plans to adjust prices based on fluctuations on the global market and real socio-economic situations in the domestic market. This means that there will be no price rises in July.“
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