Hanoi expands price stabilisation

The capital city would expand its price stabilisation programme to limit the impact of price increase on the people's living standards, Hanoi Industry and Trade Department deputy director Nguyen Van Dong said.
The capital city would expand its price stabilisation programme tolimit the impact of price increase on the people's living standards,Hanoi Industry and Trade Department deputy director Nguyen Van Dongsaid.

Hanoi would increase the number of fixed and mobile outletsof goods at stabilised prices, especially in suburban areas andindustrial zones, and continue bringing rice, meat and eggs to schoolsand kindergartens.

The department would open nine mobile markets to sell goods in nine districts in the city for farmers.

Relevantoffices would closely follow the supply and demand of goods andservices in Hanoi, Dong said. The offices would also promote a "marketwatch", to prevent trade fraud and smuggling, and penalise violations,he said.

Additionally, enterprises that get zero-interest loansunder the price stabilisation programme must store goods and expand thedistribution system for goods at stabilised prices to avoid escalation,he said.

Dong said that to meet increasing demand on consumptiongoods for Tet, large companies such as Hapro, Fivimart and BigC, hadbegun stocking up three months ago.

Deputy Minister of Industryand Trade Ho Thi Kim Thoa said that Hanoi should attract more productionenterprises into the stabilisation programm to create a stable supply.

Lastyear, a number of enterprises based in Hanoi that were not eligible toget loans from the programme still kept products at stabilised prices toreduce difficulty for consumers.

In 2011, Hanoi spent 560billion VND (26.8 million USD) in total from its budget for theprogramme. The city last year opened 665 outlets selling pricestabilised goods, double the number in 2010. The programme alsoorganised six outlets selling price stabilised goods in industrial zonesand provided price-stabilised food to canteens at schools and companieswith low-income workers./.

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