Do not take advantage of the wage increase policy to abnormally increase the prices of goods and services.

Tightly control prices of goods at local markets.

On June 30, 2024, the Government issued Decree No. 73/2024/ND-CP stipulating the basic salary and bonus regime for cadres, civil servants, public employees and armed forces; Decree No. 75/2024/ND-CP adjusting pensions, social insurance benefits and monthly allowances.

Accordingly, from July 1, 2024, the basic salary will be adjusted to increase from VND 1.8 million/month to VND 2.34 million/month; pension, social insurance benefits and monthly allowances will be adjusted to increase by 15%.

Increasing basic salary, pension, social insurance allowance and monthly allowance contributes to improving and enhancing the lives of salary and allowance recipients, creating motivation to increase labor productivity and work efficiency.

The joy of salary increase goes hand in hand with the fear of price increase

However, along with the increase in basic salary and allowances, there is also the potential risk of high inflation and "escalating" prices affecting people's lives and social security. In order to effectively implement the direction of Prime Minister Pham Minh Chinh in Official Dispatch No. 61/CD-TTg dated June 22, 2024 on strengthening price management and control measures, the Chairman of the Provincial People's Committee directs the sectors and localities to:

Closely monitor market developments, supply and demand of goods in the area, especially essential food and foodstuffs for people, monitor the market of goods at wholesale markets, shopping centers, supermarkets, prevent price speculation, ensure the circulation of goods; propose measures to stabilize the market when unusual fluctuations occur.

Full and timely information about the market and prices, control of information that can destabilize the market.

Proactively monitor closely the fluctuations in market prices of essential goods and services and the consumer price index (CPI) in the province, promptly coordinate to propose and submit to the Provincial People's Committee for direction on implementing measures to stabilize market prices to avoid sudden price fluctuations.

Strengthening supervision of commodity markets at wholesale markets.

Strengthen inspection and control of price registration and declaration when organizations register prices, declare prices, and change prices for items subject to price registration and declaration; promptly detect violations of price laws and handle them according to authority.

Inspect and control business activities in the market of organizations, stores, small traders as well as traditional markets regarding compliance with price regulations, promptly detect and strictly handle violations of the law on prices, trading in counterfeit and poor quality goods and fraudulent acts in commerce, spreading false information causing panic in the area, and preventing speculation and price increases.

Analyze and synthesize market price developments and information related to domestic market supply and demand affecting market price levels, consumer price index (CPI) developments, and propose solutions to balance supply and demand in the commodity market.

Do not take advantage of the Government's salary increase policy to abnormally increase the prices of goods and services, affecting people's lives and the activities of agencies and organizations.

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