PM orders balance of petrol demand, supply for domestic market

Prime Minister Pham Minh Chinh has issued a dispatch requesting joint efforts of ministries, sectors and localities to ensure the balance between supply and demand of petroleum products to meet the needs of the domestic market and support socio-economic recovery and development.
PM orders balance of petrol demand, supply for domestic market ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinh has issueda dispatch requesting joint efforts of ministries, sectors and localities to ensurethe balance between supply and demand of petroleum products to meet the needsof the domestic market and support socio-economic recovery and development.

In the February 22 document, he noted that petroleum is a strategic, important andsensitive commodity that easily affects people's psychology and directly impacts macro-economic stability, so it must be managed and operated in ascientific and strict manner, in accordance with legal provisions.

He asked the Ministry of Industry and Trade to coordinatewith relevant ministries and agencies in managing the balance in the petroleum market to avoid shortage in the domestic market; and conductinginspection and check of supply and distribution units as well as trading stationsacross the country in order to promptly detect and resolutely deal with acts ofhoarding petroleum for profit and other violations.

The ministry was required to collaboratewith the Committee for Management of State Capital at Enterprises in workingwith the Vietnam Oil and Gas Group and related agencies and units to determinethe committed output of domestic petrol manufacturing enterprises in the comingtime as a basis for the import of petroleum to meet the market demand.

It should actively cooperate with the Ministry ofInformation and Communications, the Ministry of Finance and relevant agenciesto provide adequate, timely and accurate information on the situation ofpetroleum production, import and distribution, price administration, directionsof the Government and the Prime Minister on this issue, as well as related violationsand handling measures on the mass media.

The Government leader also requested the Ministry of Financeto coordinate with the Ministry of Industry and Trade and relevant agencies in studyingand proposing a plan to adjust the tax policy on environmental protection forpetroleum products, and asked the People's Committees of provinces andcentrally-run cities to closely inspect and supervise the sale of petrol andoil at retail stores in the localities./.
VNA

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.