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Ha Noi fund to stabilise prices of goods
Companies in Ha Noi will be able to take advantage of interest-free loans to buy goods for stockpiling and stabilise the prices of essential items, according to the capital's people's committee.
Under the plan, Ha Noi will make available VND500 billion (US$26.3 million) in free-interest loans for the city's firms, including VND400 billion ($21 million) for buying essential items and VND100 billion ($5.3 million) for buying goods for relief aid during natural disasters.
The nine essential goods are rice, poultry, beef, eggs, processed food, frozen seafood, cooking oil, sugar and vegetables.
The companies will be able to buy the goods in the next 10 months beginning this month. The repayment period will depend on the time the loans are taken out, the committee said.
The city called on companies who take out the loans to ensure goods are of high quality and are stored hygienically. They are also required to sell the goods 10 per cent lower than the market price if prices rise.
The departments of finance and industry and trade will assess which companies will be eligible for the price-stabilisation loans and will suggest ways to disburse the money.
Ha Noi also plans to organise a trade promotion month in November to boost consumption, stabilise prices and develop trading services in the city.
Some 350-500 companies in sectors such as food and drink, textiles, garments, footwear, electronic equipment, computers and housing appliances have expressed interest in attending the event.
City authorities held a successful trade promotion month last November in Ha Noi, which they say partly contributed to increasing revenue from goods and services by VND800 billion compared with October.
Earlier this year, HCM City People's Committee provided interest-free loans worth VND400 billion ($21 million) to food companies to stabilise prices and ensure the supply of essential goods.
Under the plan, price-stabilised commodities – which include rice, sugar, cooking oil, red meat, poultry, fruit and vegetables, eggs and processed foods – will be sold at more than 1,500 outlets in the southern city.
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