Vietnam Calls for Stable Prices Ahead of Year-End and Lunar New Year 2027
Vietnamese Deputy Prime Minister Nguyễn Văn Thắng has instructed ministries and local authorities to secure supplies for year-end and Lunar New Year 2027, preventing shortages, supply disruptions and sudden price increases. Vietnam will also keep prices of state-priced goods and services stable through the end of 2026 and strengthen oversight of hoarding and unjustified price increases.
On November 12, Vietnam’s Government Office issued the conclusions of Deputy Prime Minister Nguyễn Văn Thắng from an online meeting of the Price Management Steering Committee and local authorities. He called on localities to ensure supplies of goods for year-end and Lunar New Year 2027, promote market price stabilization and connect producers with buyers to prevent shortages, supply disruptions and sudden price increases.
For the remainder of 2026, relevant agencies must closely monitor domestic and international supply, demand and prices, particularly for petroleum products, grain, food, fertilizer, animal feed and construction materials. Nguyễn Văn Thắng called for price adjustments to be spread out rather than concentrated at year-end and during Lunar New Year, and for prices of state-priced goods and services to remain stable through the end of 2026. Ministries and local authorities must also inspect price declarations, posted prices and compliance with pricing regulations, and address speculation, hoarding, price manipulation and unjustified price increases.
The Ministry of Industry and Trade must regulate petroleum product prices in accordance with the law, ensure supplies and see that the effects of tax cuts are appropriately reflected in selling prices. It must also monitor electricity price reductions and ensure a stable power supply for production and daily life. The ministry must balance supply and demand for essential goods, advance price stabilization and connections between suppliers and buyers, and build up goods reserves for Lunar New Year. The Ministry of Agriculture and Environment must draw up supply plans, with particular attention to pork, meat from other livestock and poultry, seafood, and fruit and vegetables.
Pork, meat from livestock and poultry, seafood, and fruit and vegetables are priority goods for supply assurance at year-end and during Lunar New Year 2027.（VietVance）
The State Bank of Vietnam must manage credit appropriately, prioritizing support for production and business activities, as well as priority sectors and projects. The Ministry of Finance must continue implementing tax and fee reductions, exemptions and payment deferrals, and study policy directions for 2027 to avoid a gap when current support measures expire. The Ministry of Construction must monitor construction material and housing prices and construction costs, and coordinate with local authorities to resolve issues involving the supply, extraction and transport of materials needed for major works and public investment projects.
The Vietnamese government has made inflation control and macroeconomic stability priority tasks. In the first 10 months, 20 localities recorded consumer price index increases below the national average. Nguyễn Văn Thắng instructed localities with increases above the national average to promptly analyze the causes and focus on controlling prices of goods that have risen sharply.
Source: VietVance
