Econ
Involving social resources for the price stabilization program
Thanks to the Hanoi People’s Committee acting as middleman between banks and businesses, the city’s businesses were able to access loans with interest rates 1.5 to 2% lower than the average rate in the Lunar New Year 2017.
With this effort, Hanoi was not sourcing price stabilization fund from the budget and still ensuring the supply and demand of the market. In her evaluation of this program after one year of operation, the deputy director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan revealed that a credit organization has dedicated 10,300 billion VND of capital to this price stabilization program together with other 15 enterprises.
By facilitating enterprises to access to low-interest loans, Hanoi has drawn enterprises to participate in the price stabilization program. If in 2015, the rate of enterprises participating in price stabilization was only 20%, the rate has increased up to 40% in 2016. Businesses in the market stabilization system have strengthened their linkages to create a sustainable supply chain and contributed to the campaign “Vietnamese people buying Vietnamese goods.” For example, An Viet Production and Trading and HADICO have collaborated with Ba Huan Hanoi to invest in building a hi-tech egg factory and a poultry farm.
The Chairwoman of the Vietnam Association of Retailers Dinh Thi My Loan said involving social resources in stabilizing prices has ensured the supply and demand.
Implementing consistent measures
Despite the high participation of enterprises in the price stabilization funds, not many has pushed forward with their price stabilization sale program, even some goods are more expansive than the market price. It is therefore requiring the Department of Industry and Trade to increase its efforts and efficiency in management.
With this regard, former Vice Director of Hanoi Trade DepartmentVu Vinh Phu said that enterprises taking part in the price stabilization program need to expand their selling network to rural areas, industrial parks and green markets. At the same time, it is necessary to increase coordination among manufacturers, distributors and local governments to establish sustainable production – supply chain, in turn providing steady supplts to the market with affordable price.
Taking into consideration preliminary achievements, Hanoi People’s Committee has issued Plan No. 145/KH-UBND to carry out the 2017 price stabilizationprogram on essential goods in Hanoi. Specifically, the City will continue promoting the Bank – Enterprises connectivity program to support enterprises in accessing loan with low interest rate. With this being said, commercial banks will set aside a credit amount of 150 trillion VND to support enterprises expanding production, with a view to stabilize the market at the end of 2017. In addition, Hanoi will include more goods into the price stabilization program alongside the “Buy Vietnamese Goods Campaign” to attract more enterprises participating in the price stabilization fund.
Goods subject to price stabilization sale program is being sold in 12,200 spots in Hanoi, in which 711 spots in traditional markets with the participation of big manufacturers. Besides, the network also consists of 379 supermarkets, 160 convenience stores and 612 grocery stores.
Customers buying goods subject to price stabilization at Hapro Dong Anh supermarket.
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The Chairwoman of the Vietnam Association of Retailers Dinh Thi My Loan said involving social resources in stabilizing prices has ensured the supply and demand.
Implementing consistent measures
Despite the high participation of enterprises in the price stabilization funds, not many has pushed forward with their price stabilization sale program, even some goods are more expansive than the market price. It is therefore requiring the Department of Industry and Trade to increase its efforts and efficiency in management.
With this regard, former Vice Director of Hanoi Trade DepartmentVu Vinh Phu said that enterprises taking part in the price stabilization program need to expand their selling network to rural areas, industrial parks and green markets. At the same time, it is necessary to increase coordination among manufacturers, distributors and local governments to establish sustainable production – supply chain, in turn providing steady supplts to the market with affordable price.
Taking into consideration preliminary achievements, Hanoi People’s Committee has issued Plan No. 145/KH-UBND to carry out the 2017 price stabilizationprogram on essential goods in Hanoi. Specifically, the City will continue promoting the Bank – Enterprises connectivity program to support enterprises in accessing loan with low interest rate. With this being said, commercial banks will set aside a credit amount of 150 trillion VND to support enterprises expanding production, with a view to stabilize the market at the end of 2017. In addition, Hanoi will include more goods into the price stabilization program alongside the “Buy Vietnamese Goods Campaign” to attract more enterprises participating in the price stabilization fund.
Goods subject to price stabilization sale program is being sold in 12,200 spots in Hanoi, in which 711 spots in traditional markets with the participation of big manufacturers. Besides, the network also consists of 379 supermarkets, 160 convenience stores and 612 grocery stores.
