Vietnam Ministry keeps an eye on prices

The State is continuing to supervise prices for 19 essential goods in companies that it controls as the world economic crisis deepens. Nguyen Tien Thoa, director of the price-control department, said offices would only accept new rates when they were reasonable and would not affect the stability of prices on the domestic market. Last year, State enterprises experienced difficulties because the price of raw materials increased following the economic crisis, with petrol prices fluctuating from 13,000 dong (US$0.76) per liter to 19,000 dong (US$1.12) in July. Last September, petrol distributors and producers were authorized to set their own prices based on import charges, tax rates and other costs, but just to make a reasonable profit. (January 13, 2009)