There is a phenomenon of hoarding and speculation pushing sand prices up to 1.1 million VND/m³.

Dak Nong determined that the reason for the increase in sand prices was due to many objective and subjective factors. Among them were hoarding, price hikes, and profiteering.

Sand prices in Dak Nong are increasing quite high, in some places over 1.1 million VND/m³. Photo: Thanh Quynh

After a meeting with leaders of departments and branches on sand prices and the supply of earth fill materials and construction materials in the area, Mr. Le Trong Yen, Permanent Vice Chairman of Dak Nong Provincial People's Committee, gave strong instructions.

Accordingly, Dak Nong province determined that sand prices in the area have increased recently. In some places, it has reached over 1.1 million VND/m³.

This situation has caused many negative impacts on the construction market, affecting the progress of projects, especially public investment projects.

The high price of sand is determined to be due to many objective and subjective factors. Including the phenomenon of hoarding, price hikes and speculation.

In addition, State management in the field of mineral resources still has many shortcomings.

Some businesses have committed violations, such as opening new roads to avoid the supervision of authorities and covering the signs of sand mining vehicles.

To rectify this situation, Mr. Le Trong Yen assigned the Department of Agriculture and Environment, the Department of Construction, the Provincial Police, the Market Management Department (under the Department of Industry and Trade), the Tax Department of Region XIV and the People's Committees of districts and cities to take drastic action.

This is to ensure transparency and fairness in sand mining activities, while protecting the rights of people and legal businesses.

Previously, Lao Dong Newspaper published an article Poor people in Dak Nong are late with their dream of settling down because of record high sand prices.

The article reflects the situation of high sand prices causing many poor people and families in difficult circumstances to not be able to build houses, temporarily putting aside their desire to settle down.

Source: Lao Dong Newspaper