Ministry of Industry and Trade requests to prevent hoarding and price increases during Tet holiday

The Ministry of Industry and Trade requires localities and businesses to ensure supply-demand balance, stabilize the market, and prevent shortages and disruptions in supply that cause sudden price increases before, during, and after the Lunar New Year 2025.

Ministry of Industry and Trade has just issued a directive to implement solutions to stimulate consumption, promote domestic market development during the Lunar New Year and the first quarter of 2025.

Ministry of Industry and Trade Request the Department of Industry and Trade to closely monitor market developments, supply and demand of essential goods, especially goods with high demand or high price fluctuations in the area.

Units need to ensure supply-demand balance, stabilize the market, avoid shortages and disruptions in supply that cause sudden price increases before, during and after Tet, deploy plans to prepare supply sources and organize large-scale, synchronous nationwide promotional programs to encourage people to buy Vietnamese goods.

At the same time, the Ministry of Industry and Trade also requested corporations and general companies to deploy production and supply plans, ensuring the supply of essential goods at reasonable prices, good quality, beautiful designs, and the ability to compete with imported goods.

The Ministry of Industry and Trade requires localities to prevent hoarding and price increases during Tet.

"Enterprises closely monitor sales in the distribution system to prevent shortages and virtual price hikes caused by distributors and agents speculating on goods and raising prices," the Ministry of Industry and Trade stated.

Associations and industries review supply and demand of essential goods, especially those with high demand during Tet, such as food, confectionery, beer, alcohol, soft drinks, clothing, footwear and other consumer products.

Regarding Vietnam Electricity Group, the Ministry of Industry and Trade requires it to proactively establish a direct operation method for power supply, coordinate with the National Power System and Electricity Market Operation Company Limited to provide enough electricity for production and consumption during the Lunar New Year and the first quarter of 2025.

The General Department of Market Management needs to strengthen market inspection and control, focusing on essential goods and goods with high consumer demand during Tet such as electronics, refrigeration, clothing, footwear, confectionery, sugar, fruit, tobacco, alcohol, beer, soft drinks, poultry...

This unit needs to strictly handle violations of speculation, hoarding, failure to post prices, trading, transporting, storing prohibited goods, smuggled goods, goods of unknown origin, counterfeit goods, goods infringing intellectual property, and poor quality goods.

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