79 companies have signed up for HCM City’s year-long price stabilisation programmes that began last April (Photo: VNA)HCM City (VNS/VNA) – Ho Chi Minh City’sretail sales and services grew by 12.2 percent year-on-year in the first halfto nearly 600 trillion VND (25.8 billion USD), according to its Department ofIndustry and Trade.
It said the retail market outlook for therest of the year was positive with supply remaining abundant and prices steady.
It forecast full-year growth of 13 – 14 percent,which is the target.
The city is home to 239 markets, 205supermarkets, 46 shopping malls, and 2,360 convenience stores.
Vietnamese supermarkets and conveniencestores dominate the market, accounting for 73.6 percent and 67 percent of thetotal number.
The strong retail growth is fosteringproduction and distribution of all kinds of products.
To keep prices steady in the second half ofthe year and during the Lunar New Year holidays in early 2020, the city hadlaunched four year-long price stabilisation programmes covering essential foodsand foodstuffs, school supplies, dairy products, and medicines starting lastApril.
For instance, under the programme foressential foods and foodstuffs, 10 groups of products, including rice, sugar,cooking oil, poultry and cattle meat, poultry eggs, processed foods, fruits andvegetables, seafood, and spices, are sold at fixed prices.
They meet 25-35 percent of demand, risingto 30-40 percent during the Lunar New Year.
The school supplies programme includes fourgroups of items that are in high demand -- notebooks, uniforms, schoolbags andbackpacks, and shoes.
It will meet 35-50 percent of demand.
The two remaining programmes stabilise theprices of cover formula and milk for pregnant women, milk powder and milkfortified with micronutrients and medicines, active ingredients, and items suchas bandages and syringes, with the latter meeting 50 percent of the demand foressential drugs.
All the products are sold at 5-15 percentlower than market prices.
Twelve banks and credit organisations havesigned up for the programmes and they will lend 19.65 trillion VND (861.8million USD) to participating companies at interest rates of 5.5-7 percent forshort-term loans and 9-10 percent for medium- and long-term loans.
The city has also focused on buildingtrademarks and enhancing the prestige of the programmes and businesses andproducts participating in them.–VNS/VNA
VNA
