HN expands price stabilization

January 06, 2012 10:58 AM GMT+7

VGP - The capital city of Hà Nội would expand its price stabilization program to limit the impact of price increase on the people's living standards, Deputy Director of Industry and Trade Department Nguyễn Văn Đồng said.

Hà Nội would increase the number of fixed and mobile outlets of goods at stabilized prices, especially in suburban areas and industrial zones, and continue bringing rice, meat and eggs to schools and kindergartens.

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

Relevant offices would closely follow the supply and demand of goods and services in Hà Nội, he added. The offices would also promote a "market watch", to prevent trade fraud and smuggling, and penalize violations, he said.

Additionally, enterprises that get zero-interest loans under the price stabilization program must store goods and expand the distribution system for goods at stabilized prices to avoid escalation, he said.

Deputy Minister of Industry and Trade Hồ Thị Kim Thoa said that Hà Nội should attract more production enterprises into the stabilization program to create a stable supply.

In 2011, Hà Nội spent VND 560 billion (26.8 million USD) in total from its budget for the program. The city last year opened 665 outlets selling price stabilized goods, double the number in 2010.

The program also organized six outlets selling price stabilized goods in industrial zones and provided price-stabilized food to canteens at schools and companies with low-income workers.

Earlier, in November 2011, the promotion month of the year, the total retail revenue of the capital reached VND 23,660 billion, an increase of 10% compared to the previous months and up 23.4% in comparison with the promotion month in 2010.