Price-stabilised goods on display at a Co.opmart supermarket in HCM City (Photo: VNA) HCM City (VNS/VNA) -Following the success of past price stabilisation programmes for essentialproducts, Ho Chi Minh City has started its latest one.
The programme, to run untilMarch 31 next year, has attracted the participation of 37 enterprises,including some major ones with popular brands.
Twelve banks have also joined,earmarking 19.65 trillion VND (831.8 million USD) for providing short- andmedium-term loans to the participating firms at interest rates that are up to 1percentage point lower than market rates.
This year face masks and handsanitisers have for the first time been added to the list of essential goods.The 10 others are rice, noodles and vermicelli; sugar; cooking oil; eggs; cattlemeat; poultry meat; vegetables; processed foods; seafood; and seasoning.
The goods sold under theprogramme normally account for 25-30 percent of market demand, and 25 - 40 percentaround Tet (Lunar New Year). But amid the COVID-19 pandemic they have beenaccounting for 35-50 percent of demand.
A spokesperson for the SaigonUnion of Trading Co-operatives said Saigon Co.op was taking part in theprogramme just like in previous years. Saigon Co.op has also been designatedthe main distributor of face masks and hand sanitisers by the municipalDepartment of Industry and Trade.
Nguyen Anh Duc, generaldirector of Saigon Co.op, said Saigon Co.op had stockpiled 30-40 percent moregoods than normal, and could meet demand for three to six months at unchangedprices.
It had also provided capital inadvance to businesses and co-operatives to expand production and supply goodsfor the programme, and stockpile goods to prevent price volatility.
Nguyen Huynh Trang, deputydirector of the department, said the purpose of the programme was to keep theprices of essential goods steady through 2020 and Lunar New Year early nextyear, especially amid the pandemic, not just in HCM City but the entirecountry.
Goods sold through theprogramme are locally made with clear origins that meet hygiene and food safetystandards and have assured quality, according to Trang.
Firms participating in theprogramme have to register their prices with the Department of Finance – andthey have to be 5-10 percent lower than market prices -- and maintain themuntil after the 2021 Lunar New Year.
Under the programme this yearthe city seeks to help participating businesses expand sales networks andencourage them to tie up with modern distribution channels like supermarketsand convenience stores, develop sales points at traditional markets, industrialparts, export processing zones, and outlying districts, and organise mobilesales trips to enable more consumers to buy their goods.
It also encourages firms toinvest more in improving packaging and design and diversify their products./.
The programme, to run untilMarch 31 next year, has attracted the participation of 37 enterprises,including some major ones with popular brands.
Twelve banks have also joined,earmarking 19.65 trillion VND (831.8 million USD) for providing short- andmedium-term loans to the participating firms at interest rates that are up to 1percentage point lower than market rates.
This year face masks and handsanitisers have for the first time been added to the list of essential goods.The 10 others are rice, noodles and vermicelli; sugar; cooking oil; eggs; cattlemeat; poultry meat; vegetables; processed foods; seafood; and seasoning.
The goods sold under theprogramme normally account for 25-30 percent of market demand, and 25 - 40 percentaround Tet (Lunar New Year). But amid the COVID-19 pandemic they have beenaccounting for 35-50 percent of demand.
A spokesperson for the SaigonUnion of Trading Co-operatives said Saigon Co.op was taking part in theprogramme just like in previous years. Saigon Co.op has also been designatedthe main distributor of face masks and hand sanitisers by the municipalDepartment of Industry and Trade.
Nguyen Anh Duc, generaldirector of Saigon Co.op, said Saigon Co.op had stockpiled 30-40 percent moregoods than normal, and could meet demand for three to six months at unchangedprices.
It had also provided capital inadvance to businesses and co-operatives to expand production and supply goodsfor the programme, and stockpile goods to prevent price volatility.
Nguyen Huynh Trang, deputydirector of the department, said the purpose of the programme was to keep theprices of essential goods steady through 2020 and Lunar New Year early nextyear, especially amid the pandemic, not just in HCM City but the entirecountry.
Goods sold through theprogramme are locally made with clear origins that meet hygiene and food safetystandards and have assured quality, according to Trang.
Firms participating in theprogramme have to register their prices with the Department of Finance – andthey have to be 5-10 percent lower than market prices -- and maintain themuntil after the 2021 Lunar New Year.
Under the programme this yearthe city seeks to help participating businesses expand sales networks andencourage them to tie up with modern distribution channels like supermarketsand convenience stores, develop sales points at traditional markets, industrialparts, export processing zones, and outlying districts, and organise mobilesales trips to enable more consumers to buy their goods.
It also encourages firms toinvest more in improving packaging and design and diversify their products./.
VNA
