Strengthening market control to stabilize prices

ĐBP - Recently, local authorities in Điện Biên province have been intensifying efforts to monitor and regulate the market, ensuring strict enforcement of laws and preventing price speculation, hoarding, and price hikes on essential commodities, particularly food items.

The Department of Industry and Trade has instructed the market surveillance force to strengthen monitoring of local areas, track market developments, and actively cooperate with other relevant agencies to inspect and control the market. They focus on checking prices, the origin and source of goods, product quality, and compliance with food safety regulations. The inspections also target the identification and timely handling of violations, especially the sale of counterfeit goods, smuggling, and products without clear provenance. Additionally, the authorities have been addressing hoarding, price hikes, and violations in trade promotion, including on e-commerce platforms, to stabilize the market and ensure smooth business operations for enterprises and consumers.

Market control efforts have been carried out in supermarkets, shopping centers, retail stores, and markets across the province, focusing on essential consumer goods such as food, fuel, and other basic necessities. The inspections have uncovered and addressed several cases where some traders took advantage of natural disasters to sell fake or substandard products, hoard goods, and unjustly increase prices for profit. The Department of Market Surveillance has issued an inspection plan for 2025 to ensure compliance with the law by all organizations, individuals, and businesses. They are also effectively combating intellectual property violations, the sale of contraband goods, counterfeiting, and violations related to product origin and provenance.

The authorities inspect a wholesale and retail consumer goods store in Điện Biên Phủ city.

Vũ Hồng Sơn, Director of the Department of Industry and Trade, shared that the market surveillance force in the province monitors businesses in seven key areas: trading food products under the management of the Ministry of Industry and Trade; e-commerce activities or digital technology-based trade; the alcohol industry; tobacco trading; fuel sales; pesticide products; and the electronics market.

The province covers a wide area with non-centralized production and business facilities, and smuggling, trade fraud, and counterfeit goods have become increasingly complicated, especially in the e-commerce sector. Therefore, in addition to inspection and market control, the market surveillance force is focusing on raising awareness among traders about compliance with trade laws, conducting outreach through inspections, and encouraging businesses to commit to avoiding violations.

From May 16 to June 3, the authorities conducted 58 inspections, handling 50 cases. Among these, 27 cases were fined, with 27 individuals penalized, collecting more than VND 700 million in fines for the state budget. The authorities confiscated 1,330 counterfeit cosmetics products, 39 fake branded clothing items, 2,010 packs of smuggled cigarettes, and destroyed 98kg of frozen chicken, 727 units of expired food products, 117 expired cosmetic products, and 310 food items with unknown origins.

In addition to market monitoring, the authorities have also increased efforts to educate the public about preventing counterfeit goods, items with unclear origins, and violations of intellectual property rights. To date, they have signed agreements with 129 local government offices, market management boards, and carried out direct outreach to nearly 7,000 traders, encouraging them to commit to not selling counterfeit or substandard goods.

Trần Thu Hương, a trader in Mường Thanh ward (Điện Biên Phủ city), shared: “I sell TVs, refrigerators, and household goods, sourced from reputable companies and distributors. I’ve signed an agreement to not deal in counterfeit or substandard goods.”

Through these inspections and controls, the authorities have contributed to stabilizing the market, preventing speculation, hoarding, and price hikes, especially for essential commodities like food. This has also improved the effectiveness of state management, protecting the legal rights and interests of businesses, traders, and consumers alike.

Mai Phương
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