(VOVworld) – The Minister-Chairman of the Government Office says that the Government will design support policies for poor and low-income people while managing the price of electricity under the market mechanism.

The Vietnamese Government will support poor and low-income people while managing the price of electricity under the market mechanism (Photo: VNA)

At the monthly Government press conference for July in Hanoi on July 30, Vu Duc Dam said if a rate rise occurs immediately, it will affect the competitiveness of the national economy. This is why any adjustment of electricity prices has to be made in accordance with a roadmap.

The Electricity of Vietnam needs a specific plan for communications, explanations, and the gathering of public opinions before making adjustments.

Mr. Dam said “we believe that if the public is given enough information about Party and government policies, they will respond positively. We should base electricity prices on market prices with support mechanisms for poor and low-income people. The government should also apply financial and tax incentives to encourage businesses to invest more in modern power-saving technology.”

Regarding the government plan to stockpile a million tons of rice, Dam said the government has designed policies to help large businesses stockpile, ensuring benefits to farmers and maintaining the rice export market.