Vietnam Ministry of Finance outlines price control measures and investment law revisions

The Ministry of Finance of Vietnam said the new Price Law No. 16/2023/QH15, effective 1 July 2024, will guide state management of prices for goods and services, aiming to curb inflation and stabilise the macro‑economy. The ministry highlighted flexible, market‑based mechanisms, tighter monitoring of price listings, and actions to counter speculative price hikes, especially for essential items after recent fuel price volatility and geopolitical tensions in the Middle East.

Finance Minister Ngô Văn Tuấn also explained the ongoing amendment of the Investment Law to remove unnecessary conditional sectors, shift from pre‑approval to post‑check oversight, and replace licence‑based control with technical standards and digital data. The draft also proposes stricter regulation of nitrous oxide (N₂O) to prevent misuse, and tighter supervision of visa‑service providers handling personal data. These measures are intended to create a clearer investment environment while safeguarding national security and public safety.