Vietnam English Information News

HCMC spends VND7.5 trillion to stabilize prices of goods in Tet Holiday

Preparation of goods supply for Tet will be finished by 70 percent by two weeks before Tet and completely finished by a week prior to Tet.

Besides ensuring goods supply, businesses fully complied with regulations of the price stabilization program, dispatched goods and ensured supply and demand on the market.

Goods in the price stabilization program are diverse, at reasonable prices and with high quality. The amount of goods is enough to be able to control and lead the market. In order to ensure supply and demand and social security, some groups of goods have been stocked in great volume, including 4,702 tons of foods, 46.77 million poultry eggs, 1,982 tons of sugar, 1,141 tons of processed foods, 1,182 tons of cooking oil, 3,827 tons of cattle meat, 11,422 tons of poultry meat, 174 tons of seafood and 1,296 tons of seasoning.

The Department’s plan for goods stockpile for Tet in 2019 was 13.2-16.9 percent higher than last year’s plan and up 23-36 percent compared to actual stockpile in 2018. Total value of foods and foodstuffs prepared for the two months of Tet festive season was worth more than VND18.42 trillion, up VND612.7 billion, or 3.44 percent, over the same period last year. Of which, the value of goods in the price stabilization program was roughly VND7.53 trillion.

In the peak month for Tet goods from January 4 to February 2, total goods value was VND10.81 trillion, of which the value of goods in the price stabilization program accounted for VND4.21 trillion.

Businesses have promised to keep the price stable for a month before Tet and a month after Tet. At the same time, the prices of essential goods such as pork, chicken, poultry eggs will be sharply lowered during 12 days near Tet.

In addition, in order to boost consumption, businesses in the city will run several promotional campaigns on soft drinks, sweetmeats, sugar-preserved fruits and clothes. Big distributor networks, including Saigon Co.op, Aeon – Citimart, and Big C have planned to offer a discount from 5 percent to 49 percent on thousands items for Tet.

The city leaders’ instruction along with businesses’ effort in preparing goods for Tet and keeping prices stable has helped to ensure plentiful supply at affordable prices and with good quality for consumers.

By Kim Chung – Translated by Thuy Doan