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Plans in place to ensure price stability
The industry and trade sector plans to attempt market regulation in stabilising domestic prices by the end of 2011.
The statement was made by an official from the Ministry of Industry and Trade during an online meeting yesterday.
Deputy Minister of Industry and Trade Le Duong Quang said that, in order to achieve results, a price fever leading up to Tet had to be avoided at all costs.
He added that the domestic commodities market would experience complicated fluctuations by the end of the year, affected by factors such as inflation.
To reach an annual CPI jump of 18 per cent, balancing supply and demand would be a tough job, necessitating cooperation in following market developments, he explained.
Market watch would help regulate the supply and demand of goods and stabilise markets to ensure effective production.
Relevant offices are set to promote market controls to ensure the supply of essential goods including petrol, fertiliser, steel, printing paper, cement, rice and pharmaceutical products alongside domestic trade promotion programmes and co-operation with the Viet Nam Union of Co-operatives in consuming industrial and farming goods.
Commercial speculation, trade fraud, price increases, food quality and hygiene as well as the safety of domestic goods are also to be strictly dealt with.
While the ministry expects the total retail sales value of goods and services to increase by 22 per cent to VND1.88 trillion (US$90.4 billion) year-on-year, growth will not be sustainable due to inflation, Quang said.
During the first nine months of the year the total retail sales value rose by 22.8 per cent to VND1,393 trillion ($67 billion) due to the effects of weather, animal disease and dependence on import goods, said Nguyen Tien Vy, head of the ministry's Planning Department.
An unstable supply of food and vegetables made market prices, as well as the CPI, increase.
In 2011, the Ha Noi Industry and Trade Department planned to loan VND475 billion to 17 enterprises in order that each could have temporary stock, including 10 essential goods items, for price stabilisation purposes.
Meanwhile, the HCM City Industry and Trade Department also planned to provide VND437.22 billion to 37 enterprises in order to do the same.
So far, Ha Noi has 561 spots selling stabilised-price goods while HCM City has 3,773 alongside 200 convenience shops.
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