Localities ensure adequate supply of goods during Tet

Localities have ensured that there will be adequate supply of goods during Tet (Lunar New Year) and prices will be kept stable as they have made efforts to boost production and stockpile goods.

Localities have ensured that there will be adequate supply of goods during Tet (Lunar New Year) and prices will be kept stable as they have made efforts to boost production and stockpile goods.

Shoppers at a market in Ho Chi Minh City (Photo: SGGP)
Shoppers at a market in Ho Chi Minh City (Photo: SGGP)

The statement was made by local authorities at a meeting with Deputy Prime Minister Hoang Trung Hai on December 3, to review preparations for goods during the upcoming festival in next February and the first quarter of 2011.

According to ministries, agencies and localities, the preparation has been going on well.

Prices of about 30 percent of goods on the market will be kept stable at 10-20 percent lower than market prices.

Local farmers have boosted husbandry to ensure sufficient supply of poultry, so there will not be any price shocks caused by shortages.

Local administrations have provided enterprises with non-interest loans to stockpile essential goods to ensure stable prices and market.

Some 14 enterprises in Ho Chi Minh City that have attended the city’s price stabilization program have increased their reserves of goods by 400 percent compared to their plans.

Hanoi has spent VND500 billion on stabilizing prices of nine essential goods, while HCMC has spent VND380.6 billion.

The price-stabilized goods in HCMC include rice, sugar, cooking oil, red meat, poultry, poultry eggs, fruits and vegetables, and processed foods.

An official from the Ministry of Industry and Trade said there should be measures to organize distribution effectively to prevent goods shortages which will lead to price hikes.

Deputy PM Hai said the Government will adopt measures to ensure stable supply and prices of coal, power, gasoline and steel as they have a big impact on goods prices.

The Government will ask the State Bank of Vietnam and commercial banks to consider their interest rates and assist enterprises, he added.

The Ministry of Industry and Trade and the Ministry of Finance were ordered to check colluding among traders of cement, construction materials and sugar to raise prices.

He asked the two ministries to increase penalties to prevent violations of price regulations.

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