MoIT orders inspection of illegal profiteering from market fluctuations

Minister of Industry and Trade Nguyen Hong Dien, on July 29, signed and promulgated Official Dispatch No. 4436 requesting the Head of the Vietnam Directorate of Market Surveillance and the heads of the Market Surveillance Agency in municipalities to strengthen inspection and supervision of the market, ensuring the balance of supply and demand.

Currently, although gasoline prices have initially decreased, the prices of many consumer essential products remain high, affecting the supply and demand of goods, the stabilization of the market, and people’s lives.

The General Director of the Vietnam Directorate of Market Surveillance should organize the inspection and supervision of organizations and individuals that take advantage of the market's fluctuations in supply and demand and prices to gain illicit profits; timely inform the fluctuations of the market of essential goods to serve the production and business activities and people's lives, especially food, foodstuffs, building materials, and medical equipment.

The heads of the provincial market surveillance agencies are responsible to the Minister of Industry and Trade if their units commit violations in their official duties or allow acts of taking advantage of fluctuations in supply and demand and commodity prices to gain illicit profits without being checked and handled.

In the last three adjustments, gasoline prices have declined by about VND7,000 per liter, but the prices of many products have not decreased. Prices of some products and services still climb.

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