Purchasing power has recovered and has even been higher than in the two years before the COVID-19 pandemic. (Photo: tapchicongthuong.vn) Thatis the main purpose of the Ministry of Finance's directive on strengtheningmanagement and stabilisation of goods and service prices during Tet in 2023 that has just been issuedto create advantages and control inflation.
Accordingto the ministry, in the first 11 months of 2022, the world's economic andpolitical situation changed rapidly and complicatedly. Prices of strategic rawmaterials, including petrol, rose to high levels in the first half of the year,putting great pressure on the target of controlling inflation in Vietnam.
Inthat context, price management was synchronously implemented by ministries,sectors and localities under the direction of the Government, contributing toinflation control as targeted.
However,until the end of the year and in the first quarter of 2023, many complicatedand unpredictable changes are expected in supply, demand and prices ofessential raw materials, requiring the State to have solutions for themanagement and stabilisation of goods and service prices for controllingnational inflation next year.
Therefore,relevant State agencies are urged to closely monitor the world economicperformance and inflation affecting Vietnam and devise suitable solutions forcoping with the effects. They include local departments of finance, customs andtax, the State Treasury of provinces and centrally-run cities, the State ReserveDepartment, and the National Steering Committee for Anti-smuggling, CounterfeitGoods and Trade Fraud.
Theyare also required to keep updated on the situation of supply and demand, andthe domestic market prices to suggest measures on managing and stabilising theprices on the domestic market, especially before, during and after Tet. The fight against smuggling, tradefraud and counterfeit goods should be intensified to prevent abnormalfluctuations affecting socio-economic development.
Pricemanagement and stabilisation work will focus on essential goods and services,such as food, fresh food, travel and transportation services, and materials forproduction.
Goodsfor Tet increase
Accordingto the Ministry of Industry and Trade (MoIT), the supply of essential goods forthe coming Tet will bebasically enough with stable prices based on preparation from the ministries,sectors, localities and enterprises.
Especially,with a series of trade promotion and consumption stimulation programmes, peoplein remote and isolated areas and workers in industrial zones will be able to getgoods at stable and affordable prices.
Ministerof Trade and Industry Nguyen Hong Dien has suggested the Ministry ofFinance (MoF) coordinate with MoIT in monitoring price fluctuations and strictlyhandle violations in price.
Authoritiesin big cities with large populations and high consumer demand, such as Hanoi,Da Nang and HCM City, have built detailed plans to ensure goods for Tet.
Ensuringmarket stability
PhamVan Duy, deputy director of the Department of Agricultural Product Processingand Market Development under the Ministry of Agriculture and Rural Development,said the supply of food will basically meet the domestic market demand with anincrease in output of essential commodities such as rice, vegetables, fruits,meat, milk and eggs.
PhungAnh Ngoc from MoF's Price Management Department also agreed that the supply ofessential goods is relatively abundant, ensuring the stability of supply forthe domestic market and export.
“TheMoF will continue to coordinate with other ministries, sectors and localitiesto regulate prices of essential commodities, especially petrol. At the sametime, it proposes solutions to stabilise the market and the macroeconomy. Thisis an important activity because controlling the prices at the end of the yearwill create advantages for curbing inflation in 2023,” Ngoc said./.
VNA
