To ensure enough goods for the upcoming Lunar New Year (Tet) holiday,the Ministry of Industry and Trade directed all sectors to increaseproduction in order to balance supply and demand and focus onstabilising prices, reports Vietnam Economic News.
Boosting production
Due to increased demand for the Tet holiday, it represents anopportunity for companies to boost production and consumption. Accordingto the Ministry of Industry and Trade’s statistics, the industrialproduction index in November was estimated to increase by 5.7 percentcompared to the same period last year.
In the first11 months of this year, the industrial production index was estimatedto increase by 5.6 percent compared to the same period last year. Inparticular, the industrial production index in the manufacturing andprocessing industries, electricity production and distribution and watersupply and wastewater treatment increased by 7.1, 8.6 and 9.2 percentrespectively.
Domestic consumer sales also witnesseda strong growth in November. The sale of televisions, footwear andleather and beer increased by 88.3, 12.7 and 15 percent compared to thesame period last year.
Hanoi Beer, Alcohol andBeverage Corporation (Habeco) General Director Nguyen Hong Linh saidthat in the remaining month of this year, especially in the run-up tothe Tet holiday, the consumption rate of beer and wine would increase.Therefore, to provide enough products to the market, the company’sproduction line has operated at maximum capacity.
Manufacturing and processing industries’ consumption index in Octoberalso increased by 11 percent compared to the same period last year. Inthe first 10 months of this year, its index increased by 10.4 percentcompared to the same period last year. In particular, consumption indexof beer, tobacco, civil electronic products increased by 11.2, 7.8 and13.4 percent respectively.
According to the Ministryof Industry and Trade’s assessment, the supply of goods (includingessential commodities) is plentiful.
Focusing on price stabilisation programmes
In addition to boosting production, price stabilization programs havereally become a tool to effectively regulate prices, contributing tocontrolling and limiting speculation in the last month of the year.
The Ministry of Industry and Trade’s Domestic Market Department HeadVo Van Quyen said that 32 provinces and cities throughout the countryhad implemented price stabilization programs with total value of about 1trillion VND. In particular, companies have actively implemented pricestabilisation programs from their financial resources or preferentialloans from commercial banks.
Vo Van Quyen said thatthe utilisation of preferential loans from commercial banks had beenseen as the newest point of price stabilization programs in recentyears. To support companies, the State issued policies to linkmanufacturers, distributors and commercial banks, contributing tocreating a continuous distribution chain to stabilize the market. Thesepolicies have received a positive response from commercial banks andhave been applied in Hanoi, Ho Chi Minh City and Can Tho province.
Deputy Minister of Industry and Trade Ho Thi Kim Thoa said thatpreviously instability had occurred during and after the Tet holiday.Therefore, in addition to price stabilization programs, the Ministry ofIndustry and Trade needed to promote market management. In addition, theministry should direct companies to boost production in order toprovide enough goods to the market.-VNA
Boosting production
Due to increased demand for the Tet holiday, it represents anopportunity for companies to boost production and consumption. Accordingto the Ministry of Industry and Trade’s statistics, the industrialproduction index in November was estimated to increase by 5.7 percentcompared to the same period last year.
In the first11 months of this year, the industrial production index was estimatedto increase by 5.6 percent compared to the same period last year. Inparticular, the industrial production index in the manufacturing andprocessing industries, electricity production and distribution and watersupply and wastewater treatment increased by 7.1, 8.6 and 9.2 percentrespectively.
Domestic consumer sales also witnesseda strong growth in November. The sale of televisions, footwear andleather and beer increased by 88.3, 12.7 and 15 percent compared to thesame period last year.
Hanoi Beer, Alcohol andBeverage Corporation (Habeco) General Director Nguyen Hong Linh saidthat in the remaining month of this year, especially in the run-up tothe Tet holiday, the consumption rate of beer and wine would increase.Therefore, to provide enough products to the market, the company’sproduction line has operated at maximum capacity.
Manufacturing and processing industries’ consumption index in Octoberalso increased by 11 percent compared to the same period last year. Inthe first 10 months of this year, its index increased by 10.4 percentcompared to the same period last year. In particular, consumption indexof beer, tobacco, civil electronic products increased by 11.2, 7.8 and13.4 percent respectively.
According to the Ministryof Industry and Trade’s assessment, the supply of goods (includingessential commodities) is plentiful.
Focusing on price stabilisation programmes
In addition to boosting production, price stabilization programs havereally become a tool to effectively regulate prices, contributing tocontrolling and limiting speculation in the last month of the year.
The Ministry of Industry and Trade’s Domestic Market Department HeadVo Van Quyen said that 32 provinces and cities throughout the countryhad implemented price stabilization programs with total value of about 1trillion VND. In particular, companies have actively implemented pricestabilisation programs from their financial resources or preferentialloans from commercial banks.
Vo Van Quyen said thatthe utilisation of preferential loans from commercial banks had beenseen as the newest point of price stabilization programs in recentyears. To support companies, the State issued policies to linkmanufacturers, distributors and commercial banks, contributing tocreating a continuous distribution chain to stabilize the market. Thesepolicies have received a positive response from commercial banks andhave been applied in Hanoi, Ho Chi Minh City and Can Tho province.
Deputy Minister of Industry and Trade Ho Thi Kim Thoa said thatpreviously instability had occurred during and after the Tet holiday.Therefore, in addition to price stabilization programs, the Ministry ofIndustry and Trade needed to promote market management. In addition, theministry should direct companies to boost production in order toprovide enough goods to the market.-VNA
