The Deputy Prime Minister asked the seller to publicize and list the selling price

At the meeting of the Steering Committee on February 6, Deputy Prime Minister Ho Duc Phoc said that the price law (amended) took effect from July 2024 but the regulations have not been strictly implemented.

He quoted the story of a bowl of pho up to 1 million on Tet holiday, or cases of deprivation of business licenses due to sales violations. “It is necessary to list and sell at listed prices,” Mr. Phoc said.

According to the Deputy Prime Minister, the regulations on price listing need to be strictly implemented to keep the competitive environment healthy, avoid manipulating and raising the selling price. The Ministry of Finance is required to advise the Prime Minister to issue the Directive to request immediately and seriously.

“The problem is not in an expensive or cheap place but must be transparent in price for buyers to choose, to avoid the situation that sellers take advantage of” catching “customers to get money,” the Deputy Prime Minister added.

This year, the Government aims to grow GDP at least 8%, striving two digits in the coming years. Along with that, inflation in 2025 is expected to be 4.5% according to the Resolution of the National Assembly.

According to Deputy Prime Minister Ho Duc Phoc, with the goal of growth of at least 8%, the amount of money supplied into the economy will be much larger than 2024. This will affect the price index, especially the consumer price.

In the same opinion, Deputy Finance Le Tan Can said that inflation must be well controlled in the condition that resources are promoted to achieve the highest economic growth.

The Ministry of Finance forecasts that this year’s price management will be under pressure from the market, the price of essential goods and services such as fuel, construction materials, food and some items managed by the State . Accordingly, this agency offers 3 scenarios with the average CPI forecast to increase by 3.83-4.5%.

“Operating prices, controlling inflation this year needs to continue cautious and flexible,” Mr. Can said, said the operator will focus on stabilizing prices to stabilize the production and daily life of the people. They suggested that ministries and localities coordinate and proactively propose the plan to operate and stabilize prices, especially for the goods, essential consumption and public services according to the market roadmap.

Among the three inflation scenarios this year was drafted by the Ministry of Finance, the Deputy Prime Minister proposed to choose the average CPI script increased by 4.15% compared to 2024.

“The price management must be proactive, specific and effective,” Mr. Phoc said, requiring the ministries to build the script to manage the price of goods in quarter. After that, the Ministry of Finance and the General Department of Statistics will summarize and advise the Government for feasible management measures.

For goods managed by the State, ministries and agencies take measures to adjust according to the roadmap at the appropriate level and time. Along with that, the inspection and supervision of the market must be strengthened, so as not to occur shortage, interrupting supply causes a sudden increase in price.