Price gouging and market manipulation of construction materials: Prime Minister requests police and inspectors to intervene

Prime Minister Pham Minh Chinh signed Official Dispatch No. 85 on June 10 on strengthening solutions to manage and stabilize construction material prices.

Can Tho - Ca Mau Expressway is facing difficulties due to lack of sand for foundation - Photo: MT

The dispatch clearly stated that currently, key transport infrastructure projects are being simultaneously implemented and accelerated; many civil works, people's houses, housing and real estate projects in many localities are also being built to promote growth.

There is speculation, hoarding, price gouging, and market manipulation.

Recently, the prices of some construction materials, especially sand, gravel, stone, bricks, leveling materials, road embankment materials, etc., have increased abnormally, directly affecting construction costs and construction progress.

The main reasons are the emergence of factors affecting the supply and demand of the construction materials market, delays and congestion in licensing the exploitation of sand, gravel and construction stones, speculation, hoarding, price gouging and signs of manipulation and market manipulation of construction materials.

In order to promptly rectify, handle and overcome limitations, stabilize construction material prices and ensure construction progress of key national projects, as well as meet the needs of building civil works and housing, the Prime Minister has issued instructions to have timely and most effective solutions to reduce prices of construction materials.

Accordingly, the Minister of Construction assesses and synthesizes the demand for construction materials, directs localities to plan and identify mines, supply sources, capacity, and supply capacity to ensure supply-demand balance, and promptly handle difficulties and problems.

Strengthen guidance for localities to promptly update and publish construction material prices and construction price indexes in their management areas, ensuring that they accurately reflect the cost of material prices and are consistent with market prices.

The Ministry of Agriculture and Environment minimizes administrative procedures and business conditions in granting licenses for mineral exploitation, especially common minerals used as construction materials, promptly and urgently solving the supply of sand, gravel, stone, and materials for leveling and road construction, etc.

Immediately cut down administrative procedures on land and environmental impact assessment related to mineral exploitation, ensuring a minimum reduction of 30% of time and cost for administrative procedures and business conditions of 515 related administrative procedures and 859 business conditions.

The authorities must speed up the progress and immediately resolve the applications for licenses to explore and exploit minerals for construction materials to ensure a stable, continuous, and smooth source of raw materials for production and avoid congestion due to cumbersome, overlapping, and bureaucratic administrative procedures in processing.

Strictly handle market manipulation behavior

Strengthen inspection and supervision of mining activities of licensed material mines, auction of mineral exploitation rights to ensure transparency, fair access for all economic sectors and participating enterprises, fight against local and local group interests, prevent speculation, hoarding, price gouging, and manipulation of the construction materials market.

Market management strengthens inspection, promptly detects and handles acts of speculation, hoarding, and unreasonable price increases of construction materials; thoroughly handles construction materials of unknown origin, counterfeit goods, fake goods, and poor quality goods.

The Ministry of Public Security shall preside over and coordinate with relevant agencies to investigate and strictly handle organizations and individuals who manipulate the market, speculate and profit in the production and trading of construction materials, and cover up, protect, corrupt, and ignore violations that recur without thoroughly handling them.

The Government Inspectorate urgently identifies and immediately conducts inspections of common construction material supply sources in key areas, and strictly handles violations according to the law.

Chairmen of People's Committees of provinces and cities urgently review, evaluate and synthesize the demand for construction materials in the area; plan and identify mines, speed up licensing and control the declaration and posting of prices according to regulations, ensuring publicity and transparency, avoiding the phenomena of "speculation and price inflation".

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Source: https://tuoitre.vn/doi-gia-lung-doan-thi-truong-vat-lieu-xay-dung-thu-tuong-yeu-cau-cong-an-thanh-tra-vao-cuoc-20250610160253321.htm