Leaders from the Ministry of Finance and the Ministry of Industry and Commerce held high-level talks to address urgent economic priorities and strengthen coordination between the two sectors.

The meeting, held on April 6 at the Ministry of Finance, was chaired by Deputy Prime Minister and Minister of Finance Santiphab Phomvihane.

Also in attendance was Minister of Industry and Commerce Malaythong Kommasith, along with senior officials, state enterprise directors, representatives of the Vehicle Industry Association, and technical staff from both ministries. More than 60 participants joined the discussions.

The meeting aimed to advance the implementation of Prime Ministerial Order No. 40, issued on March 13, 2026, which focuses on mitigating the impact of fuel prices, as well as resolutions from the inaugural session of the 10th Government.

Discussions centered on five priority areas: fuel supply, promotion of electric vehicles, commodity price management, suppression of informal trade, and oversight of mining operations.

On fuel supply, participants agreed to address remaining challenges in fuel importation, distribution, and availability, with particular emphasis on ensuring adequate supply for agricultural production to safeguard food security.

On electric vehicles, the meeting called for clear policies to promote the adoption of high-quality EVs, enforce payments through the banking system, and prevent market distortions. Authorities also stressed the need to balance fair business profits with consumer protection, while prioritizing service standards and environmental considerations.

Regarding mining, both sides agreed to strengthen enforcement against illegal operations that harm the environment and society, while ensuring full state revenue collection.

On commodity prices, officials emphasized stricter action against informal trade, particularly involving luxury goods and alcohol.

The meeting also highlighted the importance of reinforcing austerity measures and combating wasteful practices, with the public sector expected to lead by example.

In closing, Deputy Prime Minister Santiphab underscored the need for closer, more consistent cooperation between the two ministries to prevent these challenges from negatively affecting the public and the broader economy.

KPL