Hanoi’s Department of Industry and Trade has designated 28 stores to date, including shopping malls, super markets, parks, among others, to sell goods and products from other provinces and cities in Hanoi during the upcoming 2021 Tet holiday, Vietnam’s biggest festive holiday of the year.

Vice Director of Hanoi's Department of Industry and Trade Tran Thi Phuong Lan at the meeting.

The move is part of broader efforts to support the distribution of goods and stimulate consumption in Hanoi, stated Vice Director of Hanoi’s Department of Industry and Trade Tran Thi Phuong Lan at a meeting on September 30.

Notably, the number of stores has doubled the amount required by the city’s leaders, added Mrs. Phuong. So far, six out of 62 provinces and cities have registered to bring their goods and products to these stores.

According to Mrs. Phuong, normally in Tet, Hanoi often holds goods weeks to support other localities. But this year, the city has stepped up its efforts to introduce local products in stores for better distribution.

Hanoi’s authorities would give utmost support for other provinces in distributing goods and products in the city, stated Mrs. Lan.

She also informed that Hanoi has plans to ensure sufficient supply of basic necessities for local people during festive holidays or in crisis events, especially the Covid-19 pandemic.

In the second and third quarters, the amount of goods stockpiled in inventories was estimated at VND388 trillion (US$16.73 billion).

During the first nine months of 2020, total goods retail sales and service revenues stood at VND2,185 trillion (US$94.04 billion), up 7.5% year-on-year, including revenues from trade at VND1,753 trillion (US$75.44 billion), up 7.9%; services worth VND389 trillion (US$16.74 billion), up 9.8%; hospitality and catering services worth VND37 trillion (US$1.6 billion), down 16.8%; tourism worth VND5 trillion (US$215.19 million), down 44.4%; retail worth VND421.7 trillion (US$18.15 billion), up 2%.

Hanoi’s consumer price index (CPI), the main gauge of inflation, expanded 3.3% year-on-year in the January – September period.