HCM City to spend $861 mln for market stabilization during Tet

Ho Chi Minh City will spend VND22 trillion ($861 million) for the market stabilization program on the occasion of Tet (Lunar New Year) holiday, according to the municipal Department of Industry and Trade.

Of which, over VND8 trillion ($313 million) will be spent in preparing for essential goods and food stuff with stable prices.

Local enterprises have prepared abundant supply of goods and are ready to increase the volume if necessary to meet people’s demand, according to the department.

Essential products account for 25-43% of the market share. On average, nearly 8,000 tons of rice, 5,000 tons of meat, 5,500 tons of poultry products and 10,000 tons of fruits and vegetables will be supplied to the market during this occasion.