Gov’t sets up working group to ensure energy security amidst conflict in the Middle East

The working group is led by Deputy Prime Minister Bui Thanh Son, who is assisted by Acting Minister of Industry and Trade Le Manh Hung as the permanent deputy head.

Members of the working group include: Standing Vice Chairman of the Government Office Dang Xuan Phong, Deputy Minister of Industry and Trade Phan Thi Thang, Deputy Minister of Finance Do Thanh Trung, Deputy Minister of Construction Nguyen Xuan Sang, Deputy Minister of Agriculture and Environment Hoang Trung, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and leaders of several energy groups.

It is responsible for regularly monitoring, assessing, and forecasting developments in the Middle East and removing difficulties and obstacles in order to ensure an adequate supply of petroleum for production, business activities, and daily consumption needs.

Meanwhile, it will study and propose to the Prime Minister effective policy responses to deal with energy security matters.

On March 4, Prime Minister Pham Minh Chinh presided over a meeting to evaluate impacts of the latest global developments, especially the current complex conflict in the Middle East.

Pham stressed the need to stay calm, maintain vigilance, and closely monitor the situation in order to design flexible, timely, effective and proactive response measures.

He called for adopting measures to ensure energy security and control prices, and drawing plans to evacuate Vietnamese nationals from risky areas.

The Ministry of Finance was assigned to develop scenarios for socio-economic management for both short and long terms; submit a draft Resolution amending preferential import tariffs in a bid to ensure good supply and diversify supply chains.

The Ministry of Industry and Trade was tasked to work out plans to ensure energy security, deploy measures to stabilize oil and petrol market./.