4:30:09 PM | 3/6/2010
Authorities of Vietnam’s capital city of Hanoi have agreed to spend VND500 billion (US$26.3 million) on stabilizing prices of nine essential goods this year, aiming to curb the country’s rising consumer price index.
Businesses which attend the price stabilization program will get interest-free loans worth VND400 billion to stockpile goods, the state-run Vietnam News Agency said Tuesday, citing the Hanoi People’s Committee.
The remainder of VND100 billion will be used to store goods to serve for flood victims, the committee noted, the targeted commodities are rice, cattle and poultry meat, egg, cooking oil, sugar, processed foodstuffs, seafood and vegetables.
Last October, the committee approved interest-free loans worth VND250 billion for efforts to stabilize prices of eight essential goods, including rice, sugar, cooking oil and meat for the 2010 Lunar New Year.
In late May, Ho Chi Minh City also agreed to spend VND300 billion on stabilizing prices of eight essential commodities from June 1 to end-2010.
The General Statistics Office said Vietnam’s CPI in May rose at a slow on-month pace of 0.27% as prices of foods and foodstuff services dropped 0.12%. The index was up 9.05% from May 2009 and 4.55% from the beginning of 2010. (News)
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