Government to relinquish hold on electricity, petrol

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Government to relinquish hold on electricity, petrol

Vietnam News - 7/28/2015 9:10:51 AM

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The Government will not hold monopolies in electricity and petrol, excluding power transmissions, distribution services, hydroelectric and nuclear power.

The Ministry of Industry and Trade has completed collecting ideas on a draft decree on goods and services in which the Government would retain monopolies in trading activities.

Accordingly, there would be seven types of goods and nine services that continue to be monopolies, including some important sectors such as national security and defence, industrial explosives, gold bar production, gold material exports, tobacco products, maritime pilot services, public services and maritime safety, ensuring flight operations, infrastructure systems of national railways and irrigation systems.

The ministry said the list was built based on reviewing restructuring at State-owned groups and corporations. This could be revised to be suitable for the country's socio-economic development.

It added that the Government would maintain monopolies in sectors which private businesses or other economic components do not want to invest in or are ineligible to join in.

Particularly, the State monopoly would not be changed into monopolies at enterprises, or in following laws and regulations on businesses and competition.

Further, the monopoly would have to ensure transparency and publicity in goods and services trading.

The utilisation of State-owned capital would not take advantage of their monopoly position. In addition, the utilisation would be under supervision and publish financial information.

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