An anti-panic commodities trading floor has been established amid the Covid-19 pandemic to boost e-commerce and help people buy necessities at a stable price.

The interface of the VNShop trading floor provided by CIB Corporation

The trading floor vnshop.vn was launched last Saturday by CIB Corporation to help local authorities, manufacturing companies, logistic companies and consumers suffer less from false demand and supply fluctuations.

“During the pandemic, people have rushed to buy necessities, causing a higher demand for necessities than the real requirement,” said CEO and founder of CIB Albert Ma.

“The false supply and demand will impact the whole economy in even the short or long term. That’s the reason why we launched a trading floor managed by the Government via the Ministry of Industry and Trade.”

If there is any demand for necessities, consumers can pre-order online in a limited quantity. Those orders will be guaranteed by manufacturing enterprises to supply in a timely manner, with orders made under a specific passport or ID card.

“By keeping those demands transparent, society will avoid psychological panic during the Covid-19 outbreak. It can regulate real supply-demand to avoid social waste and the loss of medical workers and patients without medical equipment. Without the burden of false demand, enterprises can prevent themselves from over-investment after the end of natural disasters and epidemics.”

Source: VNS