Business

Ministry orders close monitoring on market developments

SGGP
The Ministry of Finance, on May 14, sent an official dispatch to the People's Committees of provinces and cities on strengthening the work on management and information of market price in the locality.
Ministry orders close monitoring on market developments  ảnh 1 People in Ho Chi Minh City comply with Covid-19 prevention measures when shopping at supermarkets. (Photo: SGGP)
The ministry requested localities to closely monitor price movements in the area to promptly take measures to stabilize prices, especially for essential consumer goods and services and input materials for production; closely coordinate with ministries and agencies in circulating and distributing goods to prevent local price fever. Localities were also requested to summarize difficulties and problems and promptly report them to the Steering Committee on Price Management via the Ministry of Finance.

At the same time, the Ministry of Finance also suggested localities to strengthen the management of price declaration and listing, especially for medical supplies for Covid-19 prevention and control and essential goods in the area; strictly control price-forming factors for goods and services priced by the State, goods, and services using the State budget to purchase, goods, public services, and public non-business services; strengthen the work of specialized and thematic inspections of prices and supervision of market prices; strictly handle violations of the law on price.

On May 14, quick statistics of major supermarket networks in Ho Chi Minh City showed that sales in the first days of May rose by 15-20 percent compared to the same period in April this year. The groups of goods with the strongest consumption in recent days were necessities, such as rice, cooking oil, sugar, seasonings, fresh and processed foods, Covid-19 prevention products, fruits, and cosmetic products. Especially, at some supermarkets, footfall increased sharply during the weekends. According to Mr. Dinh Quang Khoi, Marketing Manager of MM Mega Market, the purchasing power has climbed because retailers have been running a series of discount programs, so many groups of goods are at the best prices of the year.

It is recorded that in the past few days, at most supermarkets, goods were still full on the shelves. Retail networks in HCMC have been stockpiling essential goods and increased the level of Covid-19 prevention in the entire network to ensure a safe shopping environment for customers. For essential goods, such as sugar, rice, cooking oil, salt, fish sauce, cooking oil, meat, eggs, dry food, and especially Covid-19 prevention products, retail systems have reserved goods to ensure a continuous supply for the next 3-6 months.

Recently, the Ministry of Industry and Trade issued Directive No.07 on the implementation of solutions to ensure the balance of supply and demand and stabilize the market; fight against acts of speculation and hoarding, and violations of commercial activities when the Covid-19 pandemic is complicated.

By Quang Minh, Hai Ha – Translated by Bao Nghi

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