The Market Surveillance Agency directs all forces to intensify supervision and management in their areas. Photo: Lam Giang

Following the serious devastation inflicted by Storm No. 3, Vietnam's Ministry of Industry and Trade has ramped up efforts to stabilize the market and deter potential profiteering. On September 8, the ministry issued a directive calling for heightened monitoring and more stringent inspections to ensure that the supply of essential goods remains steady and that price gouging is prevented.

The directive urges the Market Surveillance Agency to closely monitor market conditions and provide timely reports on fluctuations in key commodities. Officials are particularly focused on necessities for day-to-day living, business operations, and recovery efforts in the wake of the storm.

Local market surveillance teams have been instructed to step up their scrutiny of businesses and individuals to ensure that no one takes advantage of the post-storm disruption to manipulate prices or supply. Authorities have been empowered to publicly name and punish offenders, aiming to maintain transparency and deter illegal profiteering.

The ministry also stressed the importance of coordinating closely with the Domestic Market Department, which is responsible for overseeing the supply and demand of essential recovery materials, such as construction materials and household goods needed for repairs. The goal is to ensure that these critical items are readily available to support recovery efforts and prevent shortages.

Provincial and municipal market surveillance offices have been tasked with swiftly identifying any unusual market trends, particularly in the food, fuel, and essential goods sectors. Any abnormal price spikes or supply disruptions will be dealt with swiftly, with authorities instructed to take decisive measures to maintain price stability and protect the public interest.

The ministry’s message is clear: there will be zero tolerance for those who seek to exploit the chaos left in the storm’s wake. Hoarding and price inflation will be met with severe penalties to ensure that essential goods, especially food and fuel, remain accessible and affordable for all citizens during this critical recovery period.