According to reports from multiple petrol retailers, fuel wholesalers and distributors have once again lowered discount rates, which could result in the closure and suspension of operations for petrol retailers due to losses.
PM Pham Minh Chinh has asked the MoIT to take measures to ensure the supply of all key commodities, especially fuel, and to stabilize the country's distribution channels for the economy after the Tet holiday.
The scale of the domestic retail market is expected to increase from US$142 billion at present to $350 billion by 2025, contributing 59 percent of the national GDP, according to the Ministry of Industry and Trade (MoIT).
The Ministry of Industry and Trade plans to set a target of 6% growth in export value this year, considering unpredictable factors that can affect import-export, according to Deputy Minister Do Thang Hai.
The Ministry of Industry and Trade (MoIT) has proposed a new price mechanism to adjust fuel prices every 5 days instead of the current 10-day cycle, or possibly every day to finally address a number of issues that resulted in sporadic fuel shortages across the country in recent months.
According to a report of the Ministry of Industry and Trade at a press conference on November 15, while fuel prices increase, and the USD/VND exchange rate climbs, many fuel enterprises face difficulties in accessing foreign currency and credit sources (businesses are not eligible for loans at credit institutions).
This morning, the Ministry of Industry and Trade organized an economic forum to connect the production and consumption of commercial products made by residents and producers in mountainous, remote areas and islands in 2022 in Hanoi.