Hanoi reserves goods worth nearly VND40 trillion for Tet demand

Tuesday, 2020-12-29 17:44:37
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The purchasing power by the year’s end and the Tet 2021 is predicted to soar by 15-20%. (Illustrative image)
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NDO – Producers and retail enterprises in Hanoi are estimated to have reserved VND39.4 trillion (US$1.71 billion) worth of goods to serve consumption demand during the Lunar New Year 2021 (Tet), an increase of 5% over that of 2020, according to Deputy Director of theHanoi Department of Industry and Trade Tran Thi Phuong Lan.

Lan said that enterprises have built a plan for the consumption of essential goods for Tet which is expected to rise 7-22% compared to Tet 2020.

The supply of goods is abundant, which will meet consumption demand, Lan noted.

The Hanoi Department of Industry and Trade has asked enterprises to actively stockpile goods to prevent hoardingof goods, the increasing prices and the market instability during Tet holiday.

According to the department, the purchasing power by the year’s end and the Tet 2021 is predicted to soar by 15-20% with the demand focused on food and foodstuffs.

Hanoi Trade Joint Stock Corporation (Hapro) - a subsidiary of BRG Group said that Hapro has stockpiled a large amount of consumer goods, foods, and dry foodsworth nearly VND1 trillion (US$43.4 million) for Tet,while Co.op Mart supermarket chain said it has finished the stockpiling of goods to serve the demand in the three months before, during and after the Lunar New Year with a total value up to VND5 trillion (US$217.18 million), up 20% compared to 2020.