The Ministry of Industry and Trade (MoIT) has denied rumours that it proposed the establishment of a State stabilisation fund to cope with the sudden increase in steel prices that has impacted many businesses.
The Ministry of Industry and Trade yesterday announced supporting to reduce electricity prices and power bills for customers for the third phase in seven months from June to December following the Government’s approval.
Right from the beginning of this year, the Ministry of Industry and Trade (MoIT) reported to the Prime Minister on the forecast of supply and demand, as well as price fluctuations of steel products in the global market and Vietnam in 2021 and the coming years.
Retail petrol prices rose from 3pm on February 25 following the latest review by the Ministry of Industry and Trade and the Ministry of Finance. Accordingly, the prices of RON 95 petrol and E5 RON 92 are now over VND18,000 and VND17,000 a liter, respectively.
The Ministry of Industry and Trade, in collaboration with the Vietnam Electricity (EVN), the World Bank, and the Vietnam Fine Arts Association, on October 28 launched a logo and slogan design contest to encourage people to cultivate power-saving habit.
Many cashback websites and smartphone apps dealing with virtual currencies are showing signs of illegal pyramid schemes and fraud, warned the Department of Competition and Consumer Protection under Ministry of Industry and Trade.