Vietnam Trade Ministry Urges to Stabilize Goods Prices for Tet Holiday
The Vietnamese Ministry of Industry and Trade has urged municipal and provincial trade and industry services to tighten control over prices of goods, aiming to stabilize the domestic market for the upcoming Lunar New Year or Tet holiday to fall on mid-Feb.
The services were requested to strictly supervise businesses which received preferential loans to stockpile goods for the holiday.
The ministry also asked market watchdogs to keep close watch on traders’ conformity to regulations on prices, especially prices of essential goods to avoid goods speculation or irrational price hikes.
Consumer prices normally rise sharply before Tet, local analysts said, adding that the recent hike of petroleum prices is estimated to fuel the goods price increases.
Prices of vegetables and fruits, sugar, wines and beverages are on the rise in many markets in Hanoi and Ho Chi Minh City. (Labor)
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