Customers purchase milk at a Co.op mart supermarket in HCM City. Dairy firms will be allowed to self-determine the retail prices for their products (Photo: VNA)Hanoi (VNA) - Traders producing and importing milk and foodsupplements for children under 6 years old will be allowed to self-determinethe retail prices for their products, the Ministry of Industry and Trade (MoIT)has announced.
During a meeting held in Hanoi on August 2, the MoIT provided guidelines forthe implementation of Circular No. 08/2017/TT-BCT on the registration anddeclaration of prices of milk products and food supplements for children undersix years old.
The circular will come into effect starting August 10.
According to the Circular, producers and importers of milk products will beallowed to determine their milk product retail price. They must carry outprocedures for registration of recommended retail prices with regulatoryauthorities during the period in which the State implements price stabilisationpolicies, said Deputy Director of the Ministry of Industry and Trade’s DomesticMarket Department Nguyen Loc An.
He added that the registered recommended retail prices will serve as the basisfor State management of prices.
Competent State management agencies will also supervise the registration anddeclaration of the prices of businesses.
“Final retail prices of milk products must be listed publicly and not exceedregistered recommended retail prices,” An said.
Producers and importers of milk products may carry out registration ofdifferent recommended retail prices which should be suitable for eachgeographical region.
Within 30 days as from the date of entry into force of Circular No.08/2017/TT-BCT, producers and importers of milk products are responsible forsending the list of recommended milk products retail prices to regulatoryauthorities.
Matthew Garland, spokesperson of the Nutritional Foods Group (NFG) under TheEuropean Chamber of Commerce (EuroCham) in Vietnam, applauded the MoIT’sissuance and development of Circular 08.
Garland said the circular sets out a new direction which focuses on themanagement of the distribution system and the final retail prices, ensuringmarket transparency and consumer interests, respecting the right of businessesin prices self-determination as well as other basic principles of the marketeconomy.
According to Garland, the implementation of the circular was a necessary steptoward official European Union recognition as a full market economy.
NFG committed to closely cooperating with the ministry and other competentauthorities to effectively implement this circular, Garland said, adding anequitable and transparent legal environment will help NFG continue to bringnutritious and high quality products to the Vietnamese people and children,contributing to the achievement of the National Strategy on Nutrition for 2011- 2020 and the national vision to 2030.-VNA
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