The total value of Hanoi's goods for the upcoming Lunar New Year or Tet holiday is estimated to increase by 15% compared to the previous Tet to VND39.5 trillion ($1.59 billion).

Local consumers are shopping at Hanoi's OCOP showroom. Photos: Hoai Nam/ The Hanoi Times

The increase is estimated based on residents' shopping demand at the end of 2022 and the Lunar New Year in 2023. It is expected to be higher than the previous year, according to the Hanoi Department of Industry and Trade.

As the Covid-19 pandemic is well under control, the recovery of the capital city's economy is on the right track, and people's lives have been improved. The city department has predicted that increasing the supply of essential commodities such as rice, beef, pork, chicken, seafood, chicken eggs, duck eggs, processed foods, vegetables, fresh fruits, and others is necessary.

Tran Thi Phuong Lan, acting director of the Hanoi Department of Industry and Trade, said: "To meet consumption demand until the end of the year, the department has asked production facilities to increase their output by at least 30%."

She said Hanoi has 28 commercial centers, 132 supermarkets, 453 traditional markets, 2,000 convenience stores, and tens of thousands of grocery stores in districts and towns.

In addition, 128 chains are selling agricultural and food products, 159 chains linking production to consumption of agro-forestry products, 926 chains and suppliers of agro-forestry-fishery products in 43 provinces and cities, and 60 showrooms selling products under the One Commune One Product (OCOP) program.

Besides, the city has 35 businesses operating in Omni-channels, including e-commerce platforms, supermarkets, distribution systems, and websites.

Hanoi is expected to host more than 40 fairs and other promotional events in districts, towns, and industrial zones during the upcoming Tet festival.

Functional forces will enhance the inspection and supervision of the origin of goods in the market.

Lan said the diverse distribution network is quite suitable for consumption. She stressed the need to coordinate with relevant units to control food safety, smuggling, commercial fraud, counterfeit goods, goods infringing intellectual property, and price management.

Director of the northern region of Saigon's Co.op supermarket system Le Van Liem said their stocks are increasing by 30-50%, depending on the product group, to meet the Tet shopping needs. "Especially in Hanoi and the northern market, Co.opmart currently has more than 50 price stabilization stores," he added.

Deputy General Director of BRG Retail Co. Nguyen Thuy Duong said they have worked with major suppliers to stabilize prices for key products, which account for 32% of the total volume of goods for Tet and will be sold in some 69 supermarkets and stores.