Hanoi stabilizes prices for municipal residents to welcome Lunar New Year

Measures have been launched to ensure sufficient supplies for Hanoians to welcome in the 2012 Lunar New Year. The municipal Department of Industry and Trade and businesses in the city are joining hands to keep the Consumer Price Index as stable as possible during the month Tet.

Hanoi stabilizes prices for municipal residents to welcome Lunar New Year - ảnh 1
Hanoi authorities spend 24 million USD to stabilize prices of essential goods


Hanoi’s Department of Industry and Trade reports that total retail turnover is projected to rise by as much as 22% in January— nearly 1.2 billion USD. Consumer demand for some staple items has skyrocketed. Hanoians will consume about 65,000 tons of food, including 12,000 tons of pork and 6,000 tons of poultry this month. Hanoi authorities have spent nearly 23 million USD to stabilize the prices of essential goods. This year, more enterprises have participated in the city’s price stabilization program, doubling the number of outlets selling price-stabilized commodities. These outlets include 700 fixed stations and about 100 temporary stations in open air markets, rural areas, and industrial zones. 34 market-days have been held in which businesses pledge to sell only made-in-Vietnam goods. Nguyen Van Dong is Deputy Director of Hanoi’s Department of Industry and Trade.


Stockpiling goods for Tet began very early. We have ordered goods from various sources, particularly from northern key economic regions and cooperated with northern provinces in creating two-way trade to avoid price inflation, and shortages.

The Department has advanced money to enterprises to ensure adequate stockpiling. The management boards of markets and craft villages have instructed producers to prepare enough beef, buffalo, pork, poultry, and vegetables to meet the local demands.  Municipal authorities have opened mobile trading centers in 9 outlying districts. This is part of the program to bring goods to rural areas and industrial parks to help low-income people enjoy a happy Tet. Major trading centers and supermarkets in the city are participating in the program to stabilize prices. Van Anh is a customer of Hapromart in the outlying district of Dong Anh.


Goods are diverse and prices are reasonable compared to shops on the street.

Vu Minh Tuan, Director of the Hapro supermarket in Long Bien District says the company considers participation in this year’s price-stabilization program a way to expand its market share and develop its brand. Mr. Tuan:


The Corporation has directed the expansion of its retail system, especially in the rural market, by setting up a series of convenient stores to increase consumption and persuading suppliers to offer more preferential policies and appropriate prices.

Hanoi considers price stabilization a key task from now until the end of the first quarter of this year with a focus on the pre- and post Lunar New Year period. The city will combine price stabilization with Government programs to tighten public spending, practice thrift, and ensure social welfare.