Tet price controls take hold in south

The southern provinces of Binh Duong, Dong Nai, and Ba Ria-Vung Tau are accelerating their own programmes to stabilise prices from now through the first quarter of 2011.

The Dong Nai Department of Industry and Trade said it has earmarked VND63.7 billion (US$3.1 million) for the purpose.

The Dong Nai Food Industry Corp received VND26 billion, Bien Hoa Coop Mart got VND24 billion, and other participating firms got the rest of the amount, all in the form of interest-free loans.

The department has ordered these companies to keep in reserve 5,600 tonnes of rice, 2,800 tonnes of pork, 2,230 tonnes of poultry meat, 5,600 tonnes of other meat, 1,400 tonnes of sugar, and more than 5.5 million litres of petrol.

The Dong Nai Food Industry Corp said it has invested VND90 billion to produce quality products to be sold at regulated prices during Tet.

Sai Gon Logistics Trading JSC said it will supply 1,000 tonnes to Dong Nai Province and Bien Hoa Sugar JSC has promised to supply 3,500 tonnes of sugar.

The Binh Duong Department Industry and Trade said it will set up teams to inspect the quality of goods and prices sold under the scheme by firms like Hai Long Trade and Service Enterprise, Vinatex Mart, Coop Mart, and Citimart.

Binh Duong lent VND227.5 billion to producers and suppliers of eight essential goods, including rice, fresh and frozen food, processed food, beverages, and textiles.

Ba Ria-Vung Tau lent VND74 billion to Phu An Sinh Co, Hoang Dung Co Ltd, and Co.opmart in the province.

It has told the participants to sell 30 per cent of the goods under the programme in rural areas.

The Southern Food Co has set up a stall selling food at low prices in Ba Ria-Vung Tau though it turned down the loan offer. — VNS

Tags: Tet Vietnam, Vietnam Tet 2011