Province strengthens management and stabilizes market prices

In 2025, several factors are expected to exert pressure on commodity prices. To stabilize the market and proactively address challenges related to price management, relevant sectors are enhancing inspections of price declarations and postings, while strictly enforcing compliance with pricing laws.

Difficulties of buyers

While it is mandatory for most goods and services on the market to display listing prices and to avoid selling them for amounts higher than these prices, there are still many instances, particularly in traditional business practices, where prices are not listed or are listed merely "for show."

According to reporters from Binh Duong Newspaper, traditional markets in the province, such as Thu Dau Mot (in Thu Dau Mot City), Lai Thieu (in Thuan An City), and Di An (in Di An City), have a limited number of stalls displaying prices. In fact, only a small percentage of traders post prices, leaving most stalls without clear pricing information. This lack of price transparency also extends to traditional sales points around the markets and on the streets, which can make customers feel uneasy.

Ms. Nguyen Thi Thuy Anh, who lives in Chanh My Ward, Thu Dau Mot City, reported that she recently visited a stall selling women's fashion clothing at Thu Dau Mot Market. When the seller initially quoted a price of 350,000 VND for a wide-brimmed hat, she felt it was too high and decided to leave. However, the seller quickly approached her and lowered the price to 280,000 VND, then to 250,000 VND. Eventually, she agreed to purchase the hat for 240,000 VND.

She visited another stall and discovered that the wide-brimmed hat only cost 150,000 VND. According to the traders, the market offers a diverse range of goods, but prices fluctuate erratically and are adjusted daily. For vegetables and food, even identical products can have varying prices. Listing the price of each item would be very challenging for retailers.

Many people who visit markets tend to bargain, which makes it challenging for vendors to sell their goods even when prices are displayed. As a result, many vendors choose not to show price lists and only share prices when customers inquire. According to the Provincial Department of Industry and Trade, there are currently 98 traditional markets in the province. However, the number of small traders who publicly display prices in accordance with the law is quite low.

Mr. Nguyen Van Ban, Chairman of the Provincial Consumer Rights Protection Association, said that the law stipulates that locations for price posting include production and business establishments, markets, shops, stores, kiosks, stalls, transaction places for selling goods and providing services; exhibition fairs selling goods and providing services and other locations as prescribed by law.

Market traders are required to register, list their prices, and sell at the listed prices. If they fail to do so, buyers can lodge complaints with the Market Management Board. However, this consumer right has not been adequately addressed.

Tighten control over price declaration and posting

Due to the absence of posted prices for essential goods in many regions across the country, which complicates price management and control, the Government Office issued Notice No. 65/TB-VPCP on February 26, 2025 on the conclusion of Deputy Prime Minister Ho Duc Phoc, Head of Steering Committee for Price Management at the Steering Committee meeting on the results of price management and operation in 2024 and the orientation of price management in 2025. Accordingly, Deputy Prime Minister Ho Duc Phoc stated that price management and operations in 2025 must effectively control inflation while strongly promoting resources to achieve the highest economic growth.

It is essential to continue efforts to eliminate obstacles to production, business, and daily life. This includes implementing a strategic plan for adjusting the market prices of public services and goods managed by the state, ensuring these changes are made appropriately and in accordance with the fluctuations of the consumer price index.

According to Deputy Prime Minister Ho Duc Phoc, in order to proactively respond to challenges in price management in 2025, ministries, branches and localities need to proactively develop and update price management scenarios for essential goods according to the market roadmap, in order to ensure inflation control according to the set target; at the same time, closely monitor price developments of strategic goods in the global market, economic developments and global inflation affecting Vietnam to have appropriate response solutions, promptly warn of risks affecting domestic price levels.  

The Deputy Prime Minister assigned specific tasks to ministries, branches and localities to organize and closely monitor the supply-demand and market prices of gasoline, oil, electricity, medical examination and treatment services, food, construction materials, etc., to have appropriate management and operation measures to achieve the target of controlling inflation in 2025.

A representative from the provincial market management sector stated that the posting and declaration of prices for food products, vegetables, and other items in the market do not comply with regulations. The Market Management Department has been actively addressing violations, but further inspection and control are still necessary. The provincial Market Management Department continues to promote and encourage businesses to proactively display and sell products at their listed prices.

In addition, the provincial Market Management Department requested functional sectors and localities to strengthen coordination and supervision of the enforcement of measures on price declaration and price posting; publicize price information in accordance with the direction of the Provincial Steering Committee against smuggling, trade fraud and production and trade of counterfeit goods (Provincial Steering Committee 389) and the peak plan to combat smuggling, trade fraud and counterfeit goods before, during and after the Lunar New Year 2025.

Reported by Thanh Hong

 Translated by Ngoc Huynh