The Government has instructed all relevant agencies to stablise goods prices while still pursuing a flexible monetary policy to well manage inflation, which, as evidenced in previous year, is likely to occur at the yearend.

Minister, Chief of the Government Office Vu Duc Dam told the press following the cabinet’s regular meeting on October 28.

Regarding the restructuring of economic groups, Dam said the Government approved a decree on the decentralisation of management of State-owned economic groups and corporations.

The decree stipulates rights and responsibilities of the Government to wholly State-owned groups and corporations, including the rights of the Prime Minister, who can also decide on chartered capital and capital adjustments of economic groups.

Functions, duties and structure of each economic group will be mandated by another decree to further enhance their management effectiveness and efficiency as well as operation.

According to Dam, out of the country’s current 21 economic groups and large-scale corporations, less than ten will be directly managed by the Prime Minister and the rest to be administered by respective ministers empowered by the Prime Minister.
At the press briefing, Dam also revealed that the Government has established a committee to investigate the Electricity of Vietnam, which has been under fire for investment activities outside its core business.

“The committee, to be headed by the Minister of Home Affairs, will determine the disciplinary measures for EVN officials and the findings will be made public,” he said.

Regarding the management of gold and SJC gold bar brand, Minister Dam affirmed that there is no business monopoly in gold production and trading.

The Saigon Jewelry Ltd. Co. will no longer be allowed to produce gold bars but will outsource bullions for the State Bank of Vietnam , and its brand name will be managed by the State, according to Nguyen Quang Huy, Head of the Foreign Exchange Management Department of the State Bank of Vietnam .

Minister Dam said amidst difficulties in budget collection, the Government still gives priority to social security with the aim of ensuring people’s needs, especially those in mountainous and disaster-prone areas, national defence, security and social order and safety.