Deputy Chairwoman of Ho Chi Minh City People’s Committee Nguyen Thi Hong on November 13 met with authorized agencies on preparations goods for the upcoming Lunar New Year that falls on February 19, 2015.
Deputy Director of the city Department of Industry and Trade Le Ngoc Dao said that businesses in the price subsidization program have fulfilled their plans to supply food and food stuffs for the Tet holiday.
Supply from enterprises will increase an average of 63 percent compared to norms assigned by the city authorities and 80 percent over the last Tet, she added several subsidized items such as poultry, eggs, cooking oil, sugar and processed food can meet 30-60 percent of the market demand.
Prepared vegetables and fruits will soar over 121 percent against the same period last year because of residents’ increasing consumption tendency of these products.
The total value of goods that businesses have prepared for the Tet reaches VND15,849 billion (US$745.38 million), up 109 percent over the same period last year.
Director of the city Department of Agriculture and Rural Development Nguyen Phuoc Trung said that businesses in the price subsidization program have broadened their chicken flocks and livestock herds, ensuring sufficient supply and stable prices of chicken egg as well as poultry and pork.
Companies under the program will supply 30-40 percent of the market share in the Tet holiday. Three wholesale markets in the city will provide 60-70 percent of vegetables, fruits and seafood products; other businesses will supply about 10-20 percent.
At the meeting, businesses assured to keep the prices stable in the Tet holiday. The Industry and Trade Department instructed them to register their promotional programs in the days near the Tet so that the department can inform on the media to facilitate residents’ shopping.
Deputy Chairwoman Nguyen Thi Hong ordered local relevant departments to keep close watch on the market and assist businesses and traders to timely stockpile Tet commodities.
Stockpiling should base on consumption demand and present purchasing power to prevent losses for businesses.
In the next ten days, the Department of Finance and other relevant agencies must complete a plan to examine goods supply and demand, control counterfeits and supervise service prices which usually rocket up in the Tet holiday, Ms. Hong instructed.
Any business highly uplifting service prices on their own initiative in the holiday will be strictly penalized, she concluded.