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Vietnam: Ministry ensures balance of goods supply and demand for Tết
HÀ NỘI — The Ministry of Industry and Trade plans on ensuring goods supply according to the varying pandemic development, even preparing for the possibility of a large-scale outbreak of COVID-19 over Tết (Lunar New Year).
Currently, the pandemic is developing in complex fashion across many localities nationwide.
Departments are requested to monitor the supply and demand of goods, especially essential items, ensuring goods supply and stabilising the market at year-end, according to the ministry’s Department of Domestic Market.
At present, localities are also developing market stabilisation programmes and directing producers, traders and distributors to stock up on goods, stabilising the market until the Lunar New Year 2022, said Trần Duy Đông, director of the Domestic Market Department.
Trần Thị Phương Lan, acting director of the Hà Nội Department of Industry and Trade, said in case of a pandemic outbreak in the capital city, the department had 2,500 places to store goods and convert into points of selling for essential goods.
Deputy Minister of Industry and Trade Đỗ Thắng Hải said that the ministry supported enterprises and localities in the connection of supply and demand to promote consumption of goods for businesses and trade promotion, stabilising the market on holidays and Tết.
Meanwhile, the departments of industry and trade of provinces and cities were asked to support businesses to recover production and business after pandemic outbreaks.
The departments are also requested to urge businesses to implement domestic trade promotion and consumption stimulus programmes.
The departments needed to create favourable conditions for businesses participating in the departments’ goods stabilisation programmes to expand the distribution network of goods to industrial parks, suburban districts, remote areas, seas and islands. This will enhance stable goods supply for people on low and middle incomes.
However, according to the Department of Domestic Market, the purchasing power of goods by year-end is expected to not increase compared to the same period last year due to the pandemic.
The income of most people has been reduced due to the pandemic so consumption on the domestic market is mainly for food and essential goods to serve the daily needs and the Lunar New Year festival in 2022, said Đông.
Tạ Thị Minh Hợp, supply director of VinMart/VinMart+ retail system, said that the purchasing power of goods for the Lunar New Year 2022 would decrease slightly year on year.
The pandemic has been reducing people’s income and unemployment is high, leading to customers tightening their spending.
“The domestic consumers will tend to focus on basic items such as fresh goods, essential foods and some goods for Tết holiday such as confectionery, beer, soft drinks and wine,” Hợp told Voice of Vietnam.
“The VinMart/VinMart+ retail system has been working with major suppliers since September to order volume of all key products for the period from now until Tết festival.
“Its amount of goods for Tết is estimated to increase by 40-50 per cent compared to the average sale volume in normal days,” said Hợp.
“Retailers have increased their goods in stock by 20-30 per cent compared to normal days, so they will still meet consumer demand, and prices are expected to be stable,” said Đông.
Nguyễn Thái Dũng, chairman of BRG Retail Co Ltd, said that his company had coordinated with suppliers to prepare goods for Tết with an increase in volume at 2-3 times compared to normal.
“From now until the Lunar New Year, the company will also carry out many year-end trade promotion activities to stimulate shopping demand with discounts up to 50 per cent and many attractive gifts,” said Dũng. — VNS