Dissemination of Decree No. 60/2024/ND-CP on market development and management

On the morning of July 26, the Ministry of Industry and Trade held an online conference to disseminate Decree No. 60/2024/ND-CP dated June 5, 2024 of the Government on market development and management (Decree No. 60) chaired by Deputy Minister of Industry and Trade Truong Thanh Hoai.

Attending the conference at Ninh Binh bridge were leaders of the Department of Industry and Trade and a number of sectors and localities in the province.

At the conference, leaders of the Ministry of Industry and Trade disseminated the basic contents and outstanding new points of Decree No. 60/2024/ND-CP dated June 5, 2024. The Decree classifies markets according to 3 methods: Business, scale, and capital source.

The Decree consists of 5 chapters and 38 articles, including a number of new provisions as follows: Regarding investment in market construction, localities are allowed to proactively balance State budget capital sources to invest or support investment capital to develop traditional markets and wholesale markets in the area, in accordance with practical situations, urgency, legal provisions on public investment, state budget and other relevant legal provisions instead of regulating the decentralization of investment support (central and local) to a number of specific market categories and types as before.

The Decree also adds obligations of investors in market construction, especially related to maintenance during the market construction investment project cycle; public information posting and consultation with relevant parties when relocating and rebuilding; developing plans and policies to support relocation; maintaining temporary markets...

At the same time, clarify that the market is managed by enterprises/cooperatives that invest, operate, exploit, and manage the market or the entity assigned to manage market infrastructure assets for assets invested by the State... instead of the Management Board as before. Supplement regulations on management, use, and exploitation of market infrastructure assets invested or supported by the State to implement the Law on Management and Use of Public Assets.

In addition, the Decree also added a process for converting market management models according to recommendations from localities.

Also at the conference, delegates focused on discussing and answering local opinions and concerns regarding the implementation of Decree No. 60/2024/ND-CP.

Concluding the conference, Deputy Minister of Industry and Trade Truong Thanh Hoai affirmed: Decree No. 60, when implemented, will create initiative for localities in investing and developing markets, solving difficulties and problems that localities are facing in market development and management such as: the issue of using public investment capital to invest in market development; exploiting and managing market infrastructure; the process of converting market management models... Thereby, localities have the ability to take advantage of all resources to develop the market network in a civilized and modern direction, ensuring food safety, contributing to promoting the consumption of goods, developing the socio-economy for localities and the whole country.

The Deputy Minister of Industry and Trade requested the People's Committees of provinces and cities to strengthen propaganda, dissemination and implementation of new contents of Decree 60/2024/ND-CP to people and businesses...

Nguyen Thom-Hoang Hiep