Prime Minister Le Minh Hung has called for an urgent restructuring of Vietnam’s fuel distribution system, with intermediaries reduced as much as possible, input costs lowered and the fuel pricing mechanism reformed to ensure adequate supplies under all circumstances.
PM Hung made the request while chairing a meeting with the Ministry of Industry and Trade and relevant agencies on September 11 to discuss reorganising the country’s fuel distribution network.
The Prime Minister stressed that ensuring national energy security is a fundamental prerequisite for economic stability and achieving the country’s target of double-digit growth.
The meeting focused on restructuring the distribution network and cutting unnecessary intermediary stages, while clearly separating responsibilities between fuel sourcing and distribution and retail operations.
Participants also discussed measures to improve efficiency and reduce costs and prices, as well as the application of science and technology across the supply and distribution chain to ensure a stable market and prevent supply disruptions.
The Government will continue to reform the fuel pricing mechanism based on market principles under State management, while developing mechanisms and tools to safeguard supply during periods of market volatility.
The meeting also examined the use and operation of the Petroleum Price Stabilisation Fund as part of measures to maintain market stability and ensure uninterrupted fuel supplies.
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