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The Ministry of Finance (MoF) has just announced a list of more than 150 companies which must register prices.
The companies will have to register prices when they launch new products in accordance with Circular 122/2010/TT-BTC, which replaced Circular 104/2008/TT-BTC dated November 13, 2008 on price stabilisation and took effect from October 1, 2010.
“The chosen enterprises are trading in 17 goods and services regulated in Circular 122. In addition, they are large suppliers of products and services in the market,” said a spokeperson of the MoF’s Price Policy Department.
He said with each sector, the MoF asked for opinions from relevant management agencies such as the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development before releasing the list.
The list involves eight cement producers, 18 steel companies and five liquefied petroleum gas traders.
It also includes seven companies providing dairy products for children under six and eight sugar producers.
The dairy producers include big names as FrieslandCampina Vietnam, Nestle Vietnam Ltd., Mead Johnson Nutrition Vietnam and Meiji Vietnam.
Dozens of other foreign-invested companies also have to carry out price registration, including Vinakyoei Limited Company, Bayer Limited Company and Bailing International Limited Company.
Previously, only companies with 50 per cent state ownership were required to register their prices with competent authorities.
Earlier, the MoF’s Price Management Department director Nguyen Tien Thoa said that the circular did not violate international integration commitments, fully complied with World Trade Organization regulations and Vietnam’s legal framework.
The comment was made after several foreign-invested enterprises, foreign business associations and diplomats in Vietnam complained that the price registration would discourage investors and badly affect Vietnam’s business environment.