Prime Minister Pham Minh Chinh has approved in principle a proposal to advance funds from the state budget to the fuel price stabilisation fund, as he chaired a Government meeting in Hanoi on March 20 to discuss measures to manage fuel prices.
The fund will reimburse the state budget once market conditions stabilize, according to the PM.
The Ministry of Finance has been tasked with leading the effort, in coordination with the Government Office and the Ministry of Industry and Trade, to urgently finalise a draft report and submit it to competent authorities for approval.
The policy is expected to remain in place until April 15, with a possible extension depending on market developments and further assessments.
The PM stressed that policy management must closely track market movements, respond promptly, and be based on data and real-world conditions, in line with Vietnam’s socialist-oriented market economy.
He emphasised that measures should follow a clear roadmap to avoid sudden disruptions. Fuel market management, he added, must balance price stabilisation with regional price trends to support livelihoods and business activities, while preventing cross-border smuggling.
Google translate