Ensuring supply and demand balance, stabilizing the market at the end of the year and Lunar New Year

According to the Ministry of Industry and Trade, total retail sales of goods in the first 9 months of 2023 increased by 9.7% over the same period last year, basically reaching the average level of the period before the COVID-19 pandemic. The average consumer price index in the first 9 months compared to the same period in 2021 increased by 3.16% (still within the target limit assigned by the National Assembly of less than 4%). The above results show that the domestic goods market has had positive changes, supporting the overall economic growth of the whole country. However, due to many difficulties in the production sector, it has affected people's income and thus affected people's purchasing power and life.

The Ministry of Industry and Trade assessed that in the coming time, the world commodity market will continue to fluctuate due to the impact of political instability issues that continue to increase in many regions, prices of essential energy commodities tend to increase; food prices are high; exchange rates and interest rates are high; goods circulation and trade are hindered due to the impact of political instability, regional division... The above factors will affect the economy in general and the domestic market in particular.

To ensure the balance of supply and demand of essential goods, stabilize the commodity market at the end of 2023 and the Lunar New Year of Giap Thin in 2024, and at the same time create a premise for implementing the Government's macroeconomic targets for 2024, the Ministry of Industry and Trade requests the Departments of Industry and Trade of provinces and centrally run cities, units under the Ministry, corporations, general companies, companies, and industry associations to soon have production and business plans, plans for goods supply and handling of unusual market fluctuations.

Accordingly, the Departments of Industry and Trade of provinces and centrally run cities monitor and evaluate the supply and demand of goods, especially essential goods, goods with high demand or high price fluctuations in the area in recent times to proactively develop plans or propose to competent authorities measures to ensure supply and demand balance, stabilize the market, and avoid shortages or disruptions in goods sources that cause sudden price increases during the end of the year and Lunar New Year.

At the same time, proactively advise the Provincial People's Committee on plans to prepare goods sources and reserve essential goods for Tet; implement market stabilization measures according to the provisions of law; coordinate with the banking sector to support and connect enterprises producing and distributing essential goods for Tet with credit institutions in the area to access loans with preferential interest rates, reserve goods to stabilize the market before, during and after Tet.

The Departments of Industry and Trade coordinate with the Department of Agriculture and Rural Development and relevant units to closely monitor the production situation, weather and disease developments, assess production capacity, and supply sources of essential agricultural and food products for the market at the end of the year and during the Lunar New Year; proactively develop plans or propose plans to ensure supply and stabilize the market of essential agricultural and food products at the end of the year and during the 2024 Lunar New Year.

At the same time, take the lead in coordinating with relevant Departments, Boards and sectors to organize activities to connect distribution businesses and essential food suppliers, creating a source of goods to stabilize the market for Tet; coordinate with localities to implement trade promotion activities, connecting supply and demand to support the consumption of safe food products, regional specialties, and combine to create a source of goods for Tet. Promote the implementation of activities to implement the Campaign "Vietnamese people prioritize using Vietnamese goods", the Program to bring Vietnamese goods to rural areas, industrial zones and clusters combined with fairs, promotions, discounts, and consumer stimulus programs.

Along with that, organize sales trips to rural, remote and isolated areas, prepare well the source of policy goods, support goods and essential consumer goods, goods for Tet to supply early and fully to people in rural, mountainous, remote and isolated areas, islands and pay special attention to the work of supplying goods to areas damaged by natural disasters with sufficient quantity, reasonable price, and guaranteed quality.

Urge businesses to implement domestic trade promotion activities and consumer stimulus programs; have a mechanism to prioritize and facilitate businesses participating in the Price Stabilization Program to expand their distribution network to densely populated areas, industrial parks, suburban districts, remote areas, island areas... to increase access to stabilized goods for people with low and middle incomes...

For corporations, general companies, and companies producing and trading essential goods and services, goods for Tet, proactively have plans to produce and supply goods for Tet; reserve materials, raw materials, and fuels reasonably, reduce costs, prioritize the use of domestically produced raw materials, in order to maintain stable production to ensure the supply of goods to the market at reasonable prices, good quality, beautiful designs, and able to compete with imported goods; strictly implement regulations on circulation reserves and national reserves to provide sufficient and timely sources of goods to the market when necessary.

Units producing goods for Tet consumption have appropriate plans to minimize the use of production near Tet, causing market instability; closely monitor sales in the distribution system to prevent shortages and artificial price increases due to distributors and agents speculating on goods and raising prices, etc.

Units under the Ministry of Industry and Trade and the Domestic Market Department closely monitor market developments and prices of essential goods, and coordinate with relevant ministries, branches, localities and units under the Ministry of Industry and Trade to assess supply and demand of goods, especially essential food products, agricultural materials, and energy in the late 2023 and the Lunar New Year 2024 to proactively develop plans or propose to the Government measures to ensure adequate supply of goods, stabilize the market, and meet the needs of production and life....

The Import-Export Department continues to implement measures to support businesses in boosting exports, especially agricultural products for harvest at the end of the year; closely monitor the import-export situation to coordinate with relevant units to take timely and appropriate management measures to prioritize ensuring the supply of essential goods for the domestic market at the end of the year and during the Lunar New Year.

The General Department of Market Management has developed a Plan for the peak period against smuggling, trade fraud and counterfeit goods in the last months of 2023; before, during and after the Lunar New Year 2024. In particular, directing the Market Management force nationwide to focus on strengthening market inspection and control and strictly handling violations of speculation, hoarding, price listing, e-commerce, trading, transporting, storing prohibited goods, smuggled goods, goods of unknown origin, counterfeit goods, goods infringing intellectual property, poor quality goods, etc.