Enterprises find it difficult to stabilize market prices at year-end amid bad weather conditions. But, with their efforts, province-based retailers will ensure the implementation of the set targets.
Urgently seeking supply of goods
To concretize the 2017 market stabilization program, the province’s functional agencies and enterprises have paid attention to preparatory work on the supply of commodities. Ho Quoc Nguyen, Big C supermarket chain's Public Relations Director said that under the program, Big C Binh Duong and Di An supermarkets have been proactive to set up plans on ensuring supply of essential goods for customers before and after the 2017 Tet (Lunar New Year) festival. In general, Big C supermarket chain’s total capital for the program in 2017 reaches a year-on-year increase of 15%.
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Customers selecting vegetables, fruits at Big C Binh Duong supermarket
Whilst, Nguyen To Kieu Linh, Lotte Mart Vietnam’s Marketing Director said that Lotte Mart has taken part in the market stabilization program launched by the Ministry of Industry and Trade. It has given priority to stockpiling essential commodities like rice, sugar, cooking oil, salt…This will be soon implemented to avoid the scarcity of goods leading to virtual price hike.
Saigon Trading Services Co.Ltd., MM Mega Market Vietnam Co.Ltd., Dong Hung One-Member Co.Ltd. together many other retailers in the province have also urgently prepared goods for the upcoming Tet festival.
Effectiveness ensured
Since early this year, the prices of food and foodstuff in the province have not had great fluctuations. Floods and rains in the recent two months have affected the prices of fruits and vegetables. But, many supermarkets in the province have still ensured price stabilization for these goods and even launched a lot of promotional programs for them…
Big C has always ensured stable supply of goods with reasonable prices. This is because the supermarket chain has reached advance commitments in terms of goods amount and price with its providers.
Over the past time, provincial Department of Industry and Trade (DoIT) realized solutions by the Government, ministries and sectors to stockpile commodities for the 2016 market stabilization program. Upon this, since the 2016 Tet festival, participating enterprises have attained good results in implementing their plans on stockpiling goods for the 2016 market stabilization program.
According to Ho Van Binh, Deputy Director of provincial DoIT, thanks to having good coordination, enterprises participating in the 2016 market stabilization program reached total revenue of approximately VND640billion, beyond 19.5% of the year’s plan. Along with selling goods with stabilized prices at their units, these enterprises also brought Vietnamese goods to rural areas. Particularly, provincial DoIT organized 10 market-days of Vietnamese good, absorbing 20 enterprises with 45-50 booths for each, contributing to stabilizing the market in the province.
Regarding the 2017 market stabilization program, Mr.Binh said that the program will focus on 3 main contents, including mobilizing enterprises and localities to stockpile essential commodities at the local people’s demand for consumption on Tet with prices that are 5%-10% lower than market levels in each period. Provincial DoIT has also conducted provincial Market Control Sub-department to tighten control over the market to detect, prevent and seriously handle infringements in terms of trade, especially price regulations…
“The 2017 provincial market stabilization program has put forward numerous criteria, comprising of meeting the “Vietnamese people give priority to using Vietnamese goods” campaign…With the integral efforts by the local functional agencies and enterprises, it is believed that the partial unbalance between supply and demand, causing price hikes for essential commodities before, during and after the 2017 Tet festival will not occur”, he added.
Reported by Thanh Hong-Translated by K.T
