Hanoi is committed to ensuring sufficient supplies of goods and products under any circumstances, including in a Covid-19 outbreak.

Vice Director of the municipal Department of Industry and Trade Tran Thi Phuong Lan gave the remark amid public concern that the Covid-19 outbreak ahead of the Tet holidays could cause a shortage of essentials and subsequent price hikes.

Customers at a super market in Hanoi. Photo: Pham Hung

“The local authorities have been cooperating with retailers in the city to stockpile basic necessities worth VND39.4 trillion (US$1.7 billion), up 5% against the last year,” Mrs. Lan continued.

“Hanoi has also expanded the list of goods to be included in the price stabilization program,” she stated.

Director of the Co.opmart Ha Dong (Ha Dong district) Nguyen Thi Kim Dung said to better meet demands of locals during Tet, the Co.opmart chains have spent VND5 trillion (US$218.2 million), up 20% year-on-year, to stock up necessities in three months before, during and after the Tet holidays.

Central Retail’s Head of Communications Nguyen Thi Bich Van added in  anticipation of 50% increase in customers’ demand for fresh meat and seafood, Big C super markets are working with suppliers to build up the inventory, in which that of pork would increase by 20%, and poultry by 25% against last year’s festive period.

To prevent unreasonable price hikes, since last July, the Hanoi People’s Committee has issued action plan No.138/KH-UBND detailing measures to stabilize prices of essential goods in Hanoi, especially those subject to high consumption demand during the Tet such as rice, pork, beef, chicken and vegetable.

In response to the program, major retailers, including Vinmart, Big C and Hapro have committed not to raising prices of essentials during Tet, even in case of market volatility.

Tran Duy Dong, Director of Domestic Market Department under the Ministry of Industry and Trade, expected there would be no shortage of goods supplies during the Tet, saying “the efficient implementation of price stabilization programs in provinces/cities, especially in Hanoi, is key.”