• HCM City earmarks VND5.6 trillion for market stabilisation 
• No price fever expected at year-end
• Controlling price hikes: no easy task

Deputy Prime Minister Hoang Trung Hai made the assurance at an online conference on June 16 linked to 36 provinces and cities across the countries.

He quoted statistics saying the program has achieved practical efficiency, with the number of businesses and the volume of commodities involving in the program increasing considerably.

To date, 36 provinces and cities have taken part in the program, and approximately 6,400 kiosks have been set up across the country, mostly in rural areas.

The program has particularly paid off in Hanoi and Ho Chi Minh City, the two big economic centres, receiving strong response from local people.

Notably, the program has been undertaken along with the campaign “Vietnamese buy Vietnamese goods” and domestic trade promotions, helping driving up the purchasing power for locally-made products.

Price stabilisation has been applied to other essential staples besides foods and foodstuffs, including student textbooks, pharmaceuticals and dairy products, and the deadline has been extended till the end of the year.

At these kiosks, the prices are often offered at between 5-10 percent lower than those of similar products in the market. For the past two consecutive years, the price consumer index in Hanoi and HCM City are lower than the national average level, contributing to curb price hikes, particularly during long festivals and holidays.    

Deputy PM Hai asked localities to develop their retail systems and price stabilisation kiosks to support the government’s efforts to contain inflation, stabilise the macroeconomy, and maintain social security.

He asked them to better disseminate information about the program and introduce preferential policies to encourage more businesses to take part in the program.

Businesses should be aware that their interests are part of community interests, and therefore price stabilisation is a regular activity showing their social responsibility toward the community, said Hai.