The Ministry of Finance expects to float the price of milk products for children under six years old by the beginning of next year after the price ceilings for the products are eliminated.
Hanoi (VNA)✅ – The Ministry of Finance expects to float the price of milk products for children under six years old by the beginning of next year after the price ceilings for the products are eliminated.
Deputy Prime Minister Vo Van Ninh was quoted by online newspaper dantri.vn as saying that Vietnam could no longer use administrative solutions in the market, since the country has signed a range of Free Trade Agreements (FTAs).
The management agencies had been set up to assure markets remain stable. In the future, markets could maintain their stability through the use of improved management and economics measures, he added.
Meanwhile, Dinh Tien Dung, Minister of Finance, said that by the end of this year the decision to put in place price ceilings for milk products for children under six years old would have expired.
Officials have also considered economic solutions, in a bid to manage milk prices under market mechanism, Dung said.
Economists also agreed that the use of price ceilings for some products relating to health and nutrition for children should not be maintained over a long period.
Cao Si Kiem, Chairman of Vietnam Small-and-Medium Sized Enterprises, said price ceilings should be removed when the market has abundant supply.
Commenting on this idea, Tran Du Lich, a member of the National Assembly Economic Committee, said controlling milk prices has caused difficulties for the Government in creating policies. In addition, it has been unfair to businesses manufacturing at different scales.
The price ceilings were put in place in May 2014 under Decision No 1079/QD-BTC enacted by the ministry. At the end of the second quarter of 2015, the ministry issued the Decision No 758/QD-BTC to continue imposing the price ceiling through the end of this year.
Research about the milk market in 2015 was carried out by Nielsen in Hanoi and HCM City, and indicated that milk products for children less than six years old were reduced 10 percent and 9 percent in terms of quantity and price, respectively against the previous year, after enacting the price ceiling.
Several milk businesses said their sales of powdered milk last year were also lower than the previous year.
Nielsen noted that milk prices in Vietnam have been no higher than prices found in the middle group in Asia.
Its statistics in July 2015 revealed that average milk prices in the high end segment in Vietnam were similar to those in other countries in the region, such as Malaysia, Thailand and Philippines.-VNA
Concerned government agencies have applied a price ceiling on 538 milk products for children under six years old, according to the Ministry of Finance.
Dairy giant Vinamilk tops the list of 50 most valuable brands listed on Vietnamese stock markets, which was released by UK-based Brand Finance at the recent Vietnam Brand Matters Forum.
The Ministry of Finance has proposed a standard tax rate for anhydrous butter fat (ABF) and anhydrous milk fat (AMF), two different kinds of materials for processing milk products.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Illustrative image (Source: VNA)
