The Ministry of Finance’s Decision 1079 will cap the prices of all formula milk for children below six instead of just 25 products as it does now, the head of the ministry’s Price Management Department, Nguyen Anh Tuan, told Saigon Giai Phong.
The Ministry of Finance will cap the prices of all formula milk for children below six (Photo: SGGP)
The ministry issued the decision capping the prices of 25 products with big market shares made by five companies on May 20.
Tuan said the ministry is set to issue guidelines to control more prices this week and targets capping all prices as required by the Ministry of Health.
The decision was based on the market situation and prices of the same products in other Asian countries like Thailand and Indonesia.
It will be in force for a year, and the ministry will decide later whether or not to continue with it.