MoF Strengthens Price Management

The Ministry of Finance issued the Circular No. 78, effective from July 5, 2012, instructing the implementation of a number of articles of the Government’s Decree 84/2011/ND-CP to regulate the market and resolve existing shortcomings in price management. This ruling aims to restrict the act of excessively increasing prices.

 

According to the regulation, a fine of VND17.5 million will be imposed on transactions worth over VND100 million. An increment of the fine to VND20 million if the act is serious. Apart from financial penalties, violators may have their business licences revoked.

 

The act of spreading unfounded information that causes social uncertainty and market instability will be also fined, with the lightest being warning and the heaviest being a penalty of VND20 million.