Continue to complete the dossier to submit to the National Assembly the draft Law on Prices (amended) according to the schedule in Vietnam

Continue to complete the dossier to submit to the National Assembly the draft Law on Prices (amended) according to the schedule in Vietnam

Specifically, in order to proactively respond to challenges in price management in the second quarter and the remaining months of 2023, ministries, branches, and localities need to focus on the following measures:

- Continue to carry out the procedures and complete the dossier to submit to the National Assembly the draft Law on Prices (amended) according to the schedule; develop detailed regulations and guide the implementation of the Law to improve the price management mechanism under the market mechanism regulated by the State, with clear assignment and decentralization in price management;

- Focus on information and communication work to provide timely and transparent information, create consensus in public opinion on the Government of Vietnam's price management, stabilize consumer psychology, and stabilize inflation expectations;

- Operate monetary policy firmly, proactively, flexibly, timely, and effectively; have timely and appropriate tools, policies, and solutions to keep the value of money stable without affecting the production and business of enterprises in the condition that monetary policies of countries change rapidly, affecting exchange rates;

- Closely and synchronously coordinate with fiscal policy and other macroeconomic policies in order to control inflation according to the set target;

- Continue to review and implement fiscal policies under the direction of the Government Leaders and the Price Management Steering Committee to support the production and business activities of enterprises and people, and ensure supply.

- People's Committees of provinces and cities actively perform the state management of goods according to their competence and regulations of law, strengthen the inspection and supervision of the implementation of price declaration and price listing measures;

- Publicize information on prices; inspect the observance of the law on prices, strictly handle cases of speculation, hoarding, and unreasonable price increases; proactively check price-forming factors as prescribed in the Law on Prices when goods have abnormal fluctuations,...

More details can be found in Notice 118/TB-VPCP dated April 10, 2023.

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