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HCM City takes measures to curb inflation
The Ho Chi Minh City People’s Committee has decided to provide 1 trillion VND (62.5 million USD) for farmers and enterprises to speed up production in order to reduce prices of essential commodities by 5-10 percent.
In another effort to control inflation, a fund to stabilise food prices will be established soon. The fund will provide interest-free loans for local businesses to refocus on pork, beef, poultry products, seafood, rice, vegetable and fruit.
A project to set up a goods transaction floor is under consideration. If approved, the transaction floor will become the first of its kind in Vietnam and operate as a company with a chartered capital of 200 billion VND (12.5 million USD).
The city has agreed not to increase prices of services and fees such as school and hospital fees, auto and motorbike keeping prices, and prices of clean water and bus service.
The southern economic hub is striving to fulfill its target of saving 125 million of kWh of electricity this year. In the first quarter alone, the city saved 36.2 million kWh, fulfilling 29 percent of its yearly plan and up 40 percent compared to the same period last year.
Local administrative agencies are actively implementing campaigns for thrift practice by cutting down 10 percent of public spendings, or 90 billion VND, and 10 percent of petrol consumption.
VNA
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