Meanwhile, the two ministries are keeping a close watch on market developments to announce appropriate fuel prices in line with Government directions and propose measures to the Government and the Prime Minister to stabilise fuel prices.
The reduction is aimed to comply with legal regulations concerning the mechanisms and timelines for adjusting average retail electricity prices, with the goal of supporting citizens and businesses and ensuring social welfare.
The rise of the greenback in the unofficial market was driven primarily by seasonal factors. The final three months of the year typically see a surge in demand for foreign currency transactions, leading to larger and more frequent price fluctuations.
The Ministry of Industry and Trade, and the Ministry of Finance set aside VNĐ200 per litre for biofuel into the Petroleum Price Stabilisation Fund, financed through a temporary advance from the state budget. No disbursement was made from the fund.
The ministry has instructed Vietnam Electricity (EVN) and power producers to use the approved price framework when negotiating and signing power purchase agreements (PPAs).
The ride-hailing market in Việt Nam is entering a new phase of competition as major platforms raise service fees and fares after years of relying on subsidies and promotions to attract users.
Việt Nam will stop regulating kerosene prices from April 29, allowing businesses to set retail prices based on market conditions under a new decree issued by the Ministry of Industry and Trade on Tuesday.
The Ministry of Industry and Trade has temporarily suspended the use of kerosene in the calculation of fuel base price until April 28, according to the ministry’s Decision 571 dated March 28.
The US dollar plunged on the free market while holding firm in banks, signalling easing speculation pressure and a narrowing gap between official and unofficial rates.
The VACC has urged the Government to introduce support measures, warning that volatility in fuel and material prices is directly affecting contractors, particularly those involved in transport infrastructure projects that consume large volumes of fuel and bulk materials.
Việt Nam is considering listing silver bullion for trading on the Mercantile Exchange of Việt Nam to standardise transactions and improve transparency in a rapidly growing market amid volatile global prices.