Vietnam still wants State interference in staple goods prices

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Báo Dân Trí English - 30 month(s) ago 2 readings

Vietnam still wants State interference in staple goods prices

The majority of Vietnamese citizens still think that the Government should regulate the prices of staple goods, a recent survey shows.

68% of surveyed people thought that the Government should take measures to stabilise the price of staple goods

The survey entitled Changing Attitudes towards Market and State (CAMS 2011) released on April 13, however also revealed that most Vietnamese supported a market economy model, privatisation of state-owned enterprises and transparency in management and operation.

The survey was jointly conducted by the World Bank (WB), the Vietnam Chamber of Commerce and Industry (VCCI) and the Irish Embassy in Hanoi.

CAMS 2011 surveyed over 1,000 enterprises, 250 central State, Party and National Assembly agencies, 250 state officials at a local level, 100 journalists, along with officials from donors and international organisations.

According to senior economist Pham Chi Lan, who took part in conducting the survey, as many as 68% of surveyed people thought that the Government should take measures to stabilise the price of staple goods. Only a quarter of them said goods prices should change in accordance with market fluctuations.

The research group attributed the attitude to the fact that state-owned enterprises still hold monopoly in producing and trading of the majority of staple goods, including electricity, petroleum, gold, foreign currency and real estate as well as important service industries such as finance, aviation and railway.

The blame on speculation and the desire for the Government measures have resulted in the people and enterprises having increased expectations about the Government’s role in market management, the noted.

Economic difficulties, high inflation and price hikes in many industries in recent years also added to the attitude, Lan said.

Economist Dr. Le Dang Doanh said more attention should be paid to the public’s views.

Concerning programmes to stabilise goods prices, the majority of people said that such policies were ineffective. Only enterprises which joined the programmes supported the policies as they benefited from access to bank loans with free interest rates, Doanh said.

The survey also indicated that 87% of surveyed people supported a market economy while 69% advocated privatisation and 92% thought transparency was necessary.

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