Hanoi spends VND6 trillion stocking goods for Tet
Businesses in Hanoi are stockpiling around VND6 trillion (US$288 million) worth of good in preparation for the upcoming lunar New Year (Tet) festival, which falls in early February 2013.
According to the Hanoi Department of Industry and Trade, retail sales during Tet are forecast to surge 18-20% compared to other months.
About a third of the VND6 trillion will be used to stock essentials goods for market stabilisation programmes.
Consumers can purchase goods at 710 fixed price stabilisation outlets and 1,500 other outlets including retail shops and canteens at industrial zones, schools and companies.
The city will also operate 200 mobile shops to bring price stabilised goods to residents in rural areas and workers at industrial parks.
Major supermarket chains in Hanoi including Metro, Big C, Co.opMart, Fivimart and Intimex will allocate VND2.3 trillion (US$110.4 million) for storing Tet goods while the Northern Food Corporation has stocked 3,000 tonnes of rice worth VND560 million (US$26.88 million).
Brewer Habeco plans to sell 50 million litres of beer and three million litres of wine and spirits to meet the growing demand for beverages during the lunar New Year.
The Department of Industry and Trade has also asked Hanoi-based retailers to increase their stocks by 10-15% to prevent a shortage of commodities during the Tet festival.