The holiday’s economic impact is estimated at VND23.5 trillion (US$1.1 billion), municipal authorities said at a meeting on November 15.
Tran Thi Phuong Lan, deputy director of the city’s Department of Industry and Trade, said demand for goods will increase during Tet, with an increase particularly in essentials like agricultural products, dried food, confections, dry nuts, wine, soft drinks, beer and other beverages.
Commercial centres, supermarkets and convenience stores are expected to reserve essential goods worth a total of VND4.5 trillion.
Confectionary producers and beverage companies will produce and supply goods worth over VND9 trillion.
Household businesses in local agricultural and confectionery trades will prepare and stock goods worth nearly VND2.1 trillion.
Concerning the price stabilisation programme, Le Hong Thang, Director of the Hanoi Department of Industry and Trade said prices of essential goods will be inevitably volatile in the holiday but the municipal authority will prepare plans to keep prices stable.
Representative from the Hanoi Trade Corporation (Hapro), a major supermarket with many outlets in Hanoi, said Tet offers a business opportunity for the company, and it has prepared an abundant supply of goods and will organise over 60 sales points to serve the shopping needs of local people.
At the meeting, enterprises suggested local authorities allow vehicles transporting food items and fuel to move inner city 24/7 to facilitate efficiency.
The local trade department said it will closely supervise the supply and demand of goods and services and co-ordinate with other departments and agencies to tackle problems and difficulties for enterprises.
It said it will be willing to co-ordinate cargo traffic between producers and distributors to ensure well-timed traffic and supply. It has also directed enterprises and producers to actively prepare production and supply plans to ensure stable prices.