Ms. Phan Thi Thang, Vice Chairwoman of the Ho Chi Minh City People's Committee, on October 21, chaired the seminar on 20 years of practice and solutions to improve the effectiveness of the market stabilization program in HCMC, with the attendance of experts, scientists, the business community, HCMC departments, agencies, and leaders of neighboring localities.
Rice prices are climbing in the country; so, the Ho Chi Minh City Department of Industry and Trade (DoIT) requested domestic rice exporters and suppliers to increase rice in stock for domestic consumption and exports.
Mrs. Nguyen Thi Le, Chairwoman of the People's Council of HCMC, asked the Department of Planning and Investment to conduct research and offer specific solutions to accelerate the pace of public investment capital disbursement.
Over the past week, retail domestic rice prices have risen by 5-15 percent, leading some individuals to engage in stockpiling. Nevertheless, distribution networks continue to uphold steady pricing, with some even introducing promotional programs.
According to the branch of the State Bank of Vietnam in Ho Chi Minh City, commercial banks citywide said that short-term interest rate of loans for businesses participating in the market stabilization program in 2022-2023 will be 5.9 percent -6.4 percent a year while businesses asking for medium and long term loan will enjoy the interest rate of 6.5 percent-10 percent a year.
Retail prices of oil and petrol dropped from 3 pm on October 3 following the latest adjustment by the Ministry of Industry and Trade, and the Ministry of Finance. The retail price of petrol is about VN22,000 a liter. However, the prices of many goods in Ho Chi Minh City have only decreased slightly, and even some items have increased.
Production and business enterprises participating in the market stabilization program will be prioritized to connect with banks as well as access to preferential credit packages to borrow capital for investment, production, and technology innovation.
The Department of Finance of Ho Chi Minh City announced the selling prices of essential items participating in the market stabilization program in 2022 and the 2023 Lunar New Year, officially applied from April 2. Besides some products, including poultry eggs and poultry meat, that have raised their selling prices, rice, pork, and sugar keep the same selling prices compared to the market stabilization program in 2021.
Several commercial centers and supermarkets in Ho Chi Minh City have been promoting the program to stimulate consumption on the occasion of National Day. Forecasts from the Department of Tourism and the Department of Industry and Trade of HCMC said that the number of visitors to enjoy and shop on this occasion would increase sharply compared to normal days.
The prices of many items, such as fruits, vegetables, cooking oil, and fresh milk, at retail points of sale and markets on March 21 increased by 15-40 percent compared to before the 2022 Lunar New Year. Delivery service also added a surcharge of VND5,000-VND15,000 per order. Meanwhile, at supermarkets and wholesale markets, prices of commodities remained stable.