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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

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  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
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28.9 C
Ho Chi Minh City
Tuesday, July 8, 2025

Finance Ministry wants to stay away from fuel pricing role

By N. Tan

Must read

HCMC – The Ministry of Finance (MOF) has written to the Ministry of Industry and Trade (MOIT), saying it does not want to carry the ball over fuel pricing regulation.

In a draft decree amending Decree 95/2021 and Decree 83/2013 on fuel trading and pricing management, the MOIT proposed three options. First, the two ministries would continue to oversee fuel pricing together as at present; second, the MOF would be the sole agency to regulate fuel prices; and third, the MOIT would be responsible for fuel pricing only.

The MOF said the MOIT should propose the third option to the Government, saying it and other agencies would support the MOIT to manage fuel prices based on their functions and expertise.

Earlier, the MOF suggested the MOIT be in charge of determining the base price for fuel and monitoring the fuel price stabilization fund, while the MOF would take on the inspector’s role.

The MOIT also devised three options for the fuel price stabilization fund. First, the fund would be maintained as it is; second, the principles of tapping into the fund would be changed in a way that reduces the Government’s intervention in fuel prices; and third, the fund would be dissolved.

However, the MOIT made no mention of an option which should be chosen.

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