The spending by Da Nang’s consumers is likely to increase by 10 - 15% for the Tet Festival 2016 as compared with the same period last year.  Therefore, the city’s authorities are encouraging local businesses and wholesale distributors to boost their production and trading activities to ensure that there will be sufficient Tet goods for local residents and that they will be sold at reasonable prices.  The intention is to match the increasing demand for essential goods in the lead up to Tet, and to prevent local traders from raising their prices and overcharging their customers using product shortage as an excuse.

The city will encourage businesses participating in its market price stabilisation programme to access zero interest loans over a 60-day term from local credit organisations to stockpile enough Tet goods.  To date, such local businesses and retailers as Dac Vinh Company, BigC Mall, Vincom, Metro, Vissan, and Lotte already have Tet goods in store worth about 192 billion VND.  In addition, traders at 8 local markets have already spent an estimated 500 billion VND in total on stockpiling.  In addition, the Da Nang branch of the General Department of State Reserves 1,000 tonnes of rice in store, valued at 12 billion VND, whilst the Da Nang Food Company has stockpiled 400 tonnes of rice.

Shoppers at a local supermarket

Apart from implementing the market price stabilisation programme in the inner-city, sales programmes will be organised before Tet in nearby industrial parks and rural and mountainous areas to ensure social welfare, which is one of the city’s key annual tasks.  The intention is to bring high-quality products, with a clear source of origin, to local workers and rural residents at reasonable prices to help them celebrate Tet.

In particular, the Coop Mart Trade and Service Company will be responsible for selling goods to workers at the Hoa Khanh and An Don industrial parks and to people who live in the Hoa Phu and Hoa Bac mountainous communes in Hoa Vang District.  On sale will be essential goods including milk products, various kinds of beverages, canned food, cakes, candies, jams, clothes, and cosmetics. 

According to Dac Vinh Company Director Pham Dac Vinh, his company’s pork products will be sold, at 10 - 15% below market price, at 13 locations in busy areas of the city from 2 - 7 February. 

The city authorities have asked local relevant agencies to increase their  checks to control local markets before, during, and after Tet.  Strict penalties will be imposed on anyone who sells fake or counterfeit goods, or increases the prices of products on sale at these venues.