Hanoi’s Tet market: Diverse goods and stable prices

13:20 | 25/02/2017 Local Economy

(VEN) - According to the Hanoi Department of Industry and Trade, businesses and other organizations did a good job in market management and operation before, during and after Tet (the Lunar New Year Holiday).  

hanois tet market diverse goods and stable prices

After forecasting goods supply and demand of the Tet market, the Hanoi Department of Industry and Trade provided guidelines for businesses to prepare to meet demand. Accordingly, as of January 15, production and trading companies had accomplished their production plans to serve the Tet market.

Retailers increased the volume of goods for sale by 15-20 percent over ordinary days to meet the increased demand. Leading supermarkets got their staff members to assess actual supply and demand to well satisfy buyers and avoid a backlog of goods.

The Hanoi Department of Industry and Trade got together with Son La Province as its counterpart to hold a Son La Farm Produce and Food Week in Hanoi. The department also worked with local authorities to kick off five Tet trade fairs in Dong Anh, My Duc, Quoc Oai and Me Linh districts and Son Tay Town. The program was highly welcomed by the community. The department got businesses to open 22 Vietnamese goods fairs and five Vietnamese Goods Weeks and implement 190 shipments of goods to districts, towns, industrial zones and export processing zones throughout the city to satisfy demand. All the events generated revenues of almost VND22 billion.

Before, during and after Tet, goods, food safety, security and order, fire prevention and environmental hygiene were assured in markets throughout Hanoi. Thus, the Tet market was kept stable and moving in the right way.

According to the Hanoi Department of Industry and Trade, in the last lunar month of 2016, the Hanoi market management force examined 1,895 cases and punished 1,733 cases totaling nearly VND23.4 billion, including administrative fines worth almost VND10.7 billion, nearly VND4.4 billion worth of confiscated goods, and more than VND8.3 billion worth of destructed and wrong-purpose goods. During Tet, the market management force maintained their oversight but found no violation.

Also according to the Hanoi Department of Industry and Trade, businesses provided almost VND25 trillion worth of goods for Tet, five percent more than the target. Most goods had good quality, known origin and stable and reasonable prices, the department said.

Following the Hanoi People’s Committee guidelines, the Ministry of Industry and Trade and the Hanoi Department of Industry

and Trade asked the Hanoi Market Management Division to continue its control over the market after Tet and during the 2017

festive season.

Thanh Tam