The Ministry of Industry and Trade (MoIT) recently issued Directive No.15 on the implementation of measures to ensure essential consumer goods during the upcoming Lunar New Year (Tet) holiday and to stabilise the market.

The Departments of Industry and Trade nationwide have been ordered to outline production and business plans while making evaluations on the supply and demand of essential items, so as to make a timely response to prevent a shortage of goods or price hikes during Tet.

They should recommend the provincial People’s Committees set up plans to stock shelves for the holiday or in case of epidemic, as well as join hands with branches of the State Bank of Vietnam to help businesses access preferential loans to produce essential goods for the holiday.

They have been asked to coordinate with the Departments of Agriculture and Rural Development and competent agencies to keep a close watch on weather and disease developments and to assess the ability to supply pork and other essential goods to the market.

The MoIT has requested local corporations to introduce import measures, if necessary, to stabilise the market.

Under the Directive, the Domestic Markets Department is to work with localities to promote the campaign “Vietnamese people prioritise Vietnamese goods”, aiming to support local production and increase supplies of price-stabilised goods in remote and mountainous areas. They are also urged to introduce safe food as well as local staples to consumers around the country.

Along with urging companies to enhance domestic trade promotions and stimulus programmes to boost consumer spending, the department is to create favourable conditions for them to join the market stabilisation programme in order to expand their distribution networks in mountainous, island, and remote localities.

The ministry also directs petrol trading companies to ensure sufficient reserves for the market, and to coordinate with competent agencies to enhance control of gasoline quality.

It will inspect and supervise power corporations to assure electricity supply for production and daily use.

The Vietnam Directorate of Market Surveillance is responsible for examining food safety and quality, and preventing speculation and price hikes in contradiction of existing laws.

Due attention will also be paid to raising public awareness of the State’s market stabilisation and food safety policies.