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MoIT to manage kid's milk prices

Released at: 09:00, 18/11/2016

MoIT to manage kid's milk prices

Photo: Duc Anh

Ministry of Industry and Trade to lead in managing the price of milk products for children under six years old, taking over from the Ministry of Finance in January.

by Huyen Thanh

The Ministry of Industry and Trade (MoIT) will be officially in charge of managing the price of milk products for children under six years old, replacing the Ministry of Finance (MoF) from January.

The government issued Decree No. 149 on adjustments and supplements to certain articles of Decree No. 177 detailing and guiding the implementation of certain articles in the Law on Prices, under which MoIT will take over from MoF.

The Ministry of Health will lead and cooperate with MoIT in issuing detailed guidelines on milk products.

Earlier, in a draft submitted to the government at the end of August on amendments and supplements to certain articles of Decree No. 177, MoF proposed transferring the task of managing the price of milk products for children under six years old to MoIT.

In October, MoIT refused to take the lead role in managing these prices, saying “the Law on Prices defines that State management of this issue lies with MoF.” MoIT only had the role of coordinating and chairing the management of commercial development and the domestic market, ensuring the balance between supply and demand and adjusting the flow of goods.

The government, however, decided to assign the task to MoIT. The ministry has important roles to play from importing to trading milk products because more than 70 per cent of powdered milk in Vietnam is imported.

The country now has 877 milk products for children under six years old, with price ceilings, registered prices and declared prices announced on the websites of MoF and provincial departments of finance.

Milk products for children under six years old have been on the price stabilization list and subject to a price ceiling by the government since June 2014, after the implementation of other management solutions proved inefficient.

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