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| Saigon Co.op has worked ensure stabilized prices for its goods__Photo: VNA |
Although inflation has been controlled in accordance with the set target, state management agencies and enterprises have stayed vigilant and prepare price stabilization measures in the remainders of the year.
The Ministry of Industry and Trade (MoIT) said total retail sales of goods and consumer service revenue during January - June rose 8.6 percent to over VND 3 quadrillion (USD 118 billion). Localities with strong increases in the revenue included Quang Ninh (9.5 percent), Hai Phong (9 percent), Da Nang (7.8 percent), Can Tho (7.6 percent), Hanoi (6.6 percent) and Ho Chi Minh City (6.3 percent).
Despite positive recovery forecast for the market, fast moving consumer goods producers have faced challenges in stimulating consumer demand, Deputy Director of the VISSAN Joint Stock Company Phan Van Dung said, adding enterprises have strived to stabilize prices for essential goods from the outset of the year amidst rising input costs and weak spending.
According to Dung, in response to the minimum wage hike from July 1, VISSAN, a leading food processor in the country, worked with its suppliers to pen price stabilization measures and shared profits to stabilize the market. At the same time, it has joined hands with distributors and retailers to roll out consumption stimulus programs, and pledged to provide consumers with high-quality and safe products.
Dung said the National Assembly’s VAT cut to 8 percent from 10 percent is among the measures to support businesses’ price stabilization programs.
Meanwhile, director of the operation division of Co.opmart supermarket chain Nguyen Ngoc Thang held that distributors and retailers should enhance the supply of goods to respond to the market developments.
Saigon Co.op has signed long-term contracts with its partners to ensure stabilized prices for its goods, he said.
The Ministry of Finance’s Price Management Department said as unpredictable energy prices, rising rice prices, and spiking transport costs, among others will exert pressure on the price level, the ministry will continue working with competent ministries and sectors to propose the Government measures to control inflation rate and stabilize the macro-economy.- (VNA/VLLF)
