Also, if poultry and cattle epidemics are kept under control, the prices of food and foodstuffs will remain stable and their supply will be able to meet consumer demand for the Lunar New Year.

Businesses ready for Tet

Prices of goods are very likely to rise a bit as there are nearly two months left until the Lunar New Year Festival (Tet), but all businesses have prepared adequate supplies to cope with consumer demand.

According to the Hanoi municipal Department of Industry and Trade, the city has asked 15 businesses involved in price-stabilisation program to stockpile goods for Tet. Commercial centres, supermarkets, and craft villages are also well-prepared for the occasion.

Nguyen Van Dong, Deputy Director of Hanoi Municipal Department of Industry and Trade, said the city has mobilized various resources to ensure the supply of goods for  Christmas and the solar and lunar New Year festivals.

The Hanoi Trade Corporation (Hapro) has spent VND905 billion preparing goods for Tet, up 15 percent against last year. Hapro Managing Director Mai Khue Anh says her company will focus on both urban and suburban markets by organizing 40 mobile sales trips within the city and 13 special trade fairs in suburban districts.

The Fivimart supermarket chain under the Nhat Nam Joint Stock Company is also gearing up for the holidays with a 30 percent increase in the quantity of goods reserved for Tet.

Nhat Nam JSC Vice CEO Vu Thi Hau says Fivimart has confirmed buying goods to help providers to stock up adequate supplies and ensure price stability.

In response to the “Vietnamese using Vietnamese products” campaign, Nhat Nam will offer high-quality, reasonably priced gift baskets of Vietnamese goods for Tet.

Businesses in Ho Chi Minh City, especially those involved in the price-stabilization program, have also taken the initiative to stockpile goods for Tet.

According to the city Department of Industry and Trade, the supply of goods under the price-stabilisation program will meet 30-40 percent of the market demand this year.

The Saigon Co-op Mart supermarket chain has completed stocking supplies and prepared storehouses and transportation to distribute 24,000 tonnes of goods worth VND2,800 billion. It has stockpiled all nine essential products as assigned and worked with the Lam Dong and Dong Nai provincial Departments of Agriculture and Rural Development to ensure supplies of processed foods, meat, fruit and vegetables that meet proper food safety requirements.

Authorities’ efforts

To avoid significant price increases during Tet, Prime Minister Nguyen Tan Dung has asked relevant ministries, agencies, and localities to take drastic measures to stabilize prices and markets and ensure social order before, during, and after the Tet holiday.

Authorities should strengthen inspection of businesses supplying essential goods to prevent speculation, which will threaten to increase prices and cause shortages of goods, he says.

The PM also urges ministries and agencies to coordinate closely with municipal and provincial People’s Committee to iron out snags in production and business, especially those related to administrative procedures, consumption, and agricultural and small- and medium-sized businesses' access to capital.

The Ministry of Industry and Trade aims  to ensure the supply of goods for the last months of the lunar year as well as during Tet by enhancing coordination with localities and associations nationwide.

Hanoi has completed a plan to prepare supplies of essentials for Tet such as petrol, beverages, confectioneries, sugar, and milk. It has also asked businesses to take the initiative to ensure the quality and quantity of products at the end of the year.