With the Tet holiday approaching in February 2011, Prime Minister Nguyen Tan Dung has ordered ministries and relevant authorities to control the commodity prices in an attempt to curb inflation and to the stabilize the markets.
He has asked local authorities to keep a close watch on commodity prices, ensuring that the regulations of price management are adhered to and prevent unreasonable price raises.
He has ordered the State Bank of Vietnam to take steps to stabilize the foreign exchange rate, as well as gold prices and interest rates. The central bank has been ordered to collaborate with local authorities in inspect to, and punish any speculation in gold or illegally gold trading.
He has called on local authorities to create favorable business conditions, in order to assist the manufacturers in ensuring supply, and the stabilization of prices. This is particularly important for essential goods, to maintain a balance between supply and demand coming up to the Tet holiday.
The Government also ordered authorities in northern and south-west provinces, to prevent smuggling through the border, and have asked ministries to increase exports and to reduce trade deficit.
