This move aims to control market fluctuations and prevent speculation and unreasonable price hikes.
On the afternoon of May 8, the Office of the HCMC People's Committee announced that Chairman Nguyen Van Duoc ordered entities to perform their price management duties in accordance with the 2023 Law on Price and local Decision No. 33/2025/QD-UBND.
The Ho Chi Minh City People's Committee also required the continued strict implementation of the Prime Minister’s Directive No. 15/CT-TTg on strengthening legal compliance regarding prices and Telegram No. 85/CD-TTg on enhancing management and stabilization solutions for construction material prices.
Specifically, the Department of Construction is assigned to proactively monitor market developments through price listings, declarations, and related information sources, while assessing price fluctuations to promptly propose and implement appropriate regulatory measures. In cases of abnormal price swings, the Department of Construction will organize inspections of price formation factors and compliance with price laws, reporting findings to the Ministry of Construction and the Ministry of Finance.
The HCMC People's Committee also tasked the Department of Industry and Trade to lead coordination with the Department of Finance to strengthen market inspections and strictly handle acts that exploit emergencies, natural disasters, or market fluctuations to unreasonably increase the price of goods and services for profit. Collusion, price-fixing, or the abuse of valuation activities for personal gain will also be strictly inspected and handled.
Regarding information and communication, the Department of Culture and Sports is assigned to regularly update and disseminate timely, accurate information on the socio-economic situation to prevent false news from causing market turbulence or public anxiety.
The HCMC Police are tasked with coordinating the handling of violations with criminal signs related to price management activities. Furthermore, the People's Committees of communes, wards, and special zones are responsible for closely monitoring local construction material prices and promptly reporting abnormal fluctuations to the Department of Construction for appropriate action.
