Vietnam Urges Stockpile Goods for Tet Holiday

Prime Minister Nguyen Tan Dung has sent a dispatch to ask cities and provinces' authorities to reserve goods to meet the vast demand of people and stabilize prices during the coming Lunar New Year.

 

Dung requested the Ministry of Finance to mull over supporting goods reserve expenses for disadvantageous localities, in accordance with the regulations on state budget.

 

The country's two big cities of Hanoi and Ho Chi Minh City have recently stated to spend VND400 billion (US$25 million) of the city's budget on stockpiling goods for the Tet holiday.

 

The Hanoi Trade Corporation plans to have 320 tons of meat and processed goods, 420 tons of confectionery and 1.13 million bottles of wine and beer stockpiled, at a total value of VND188 billion (US$11 million).

 

However, a trade official predicted the price will still increase by at least 10 per cent-15 per cent during the year end’s shopping season, even if demand is met.

 

Vu Vinh Phu, chairman of the Hanoi Supermarkets Association, said the giddy hike of consumer prices during these months and the scarcity of key foodstuff such poultry, meat, fresh food due to natural disasters and epidemics hugely impacted the goods collection of distributors, including trade centers and supermarkets.

 

Meanwhile, the Ministry of Trade and Industry estimated the country’s goods demand will rise by 20 per cent-30 per cent over last year. (Pioneer, VnExpress)