HCMC – Many provinces and cities in Vietnam will launch price stabilization programs in in the lead up to the Lunar New Year 2023 holiday at a total cost of trillions of Vietnamese dong.

The Lunar New Year holiday is a special time for family reunion, which always drives up the demand for essential goods like food. The holiday will start in the fourth week of January next year.

The central highlands province of Dak Lak plans to stock up on essential goods worth over VND1.5 trillion as the demand is expected to rise 20% on this occasion.

In the province, 10 enterprises are stockpiling various consumer goods worth over VND420 billion, mainly focusing on fuels and foods such as pork, poultry, eggs, cooking oil, seasoning, processed foods, vegetables and fruits.

Previously, the Kon Tum Department of Industry and Trade sought the nod from the People’s Committee to carry out a program to stabilize the market and encourage local people to prioritize domestic goods.

WinMart and Co.opmart in Kon Tum decided to participate in the program with a total volume of goods valued at around VND53.73 billion.

Currently, HCMC has nearly 11,000 selling points for the price stabilization program, of which 4,209 will provide customers with essential food products and 1,711 will sell milk and dairy products.

According to the city’s plan, the volume of goods prepared for stabilizing the market could satisfy 25-43% of the market demand for the Lunar New Year 2023.

Binh Thuan Province estimated that the total value of essential items for this program would reach VND357 billion, including VND33 billion for instant foods, VND14 billion for food products and VND77.5 billion for processed foods.