Ho Chi Minh City authorities are working with local businesses to ensure the supply of essential goods under the city’s market stabilization program for the Tet (Lunar New Year) holiday, according to the municipal Department of Industry and Trade.

Under the market stabilization program for the year, 45 businesses have registered to provide essential goods and foods with stabilized prices. These goods account for 25-43 per cent of market demand.

The total value of goods prepared by enterprises is estimated to reach VND8.5 trillion ($354 million).

The businesses committed to not increase prices in the month before Tet or the month after the holiday.

They will also prepare plans to supply more products and organize mobile trading points to prevent the shortage of commodities during the occasion.

Three wholesale markets in the city provide an average 7,600 tons of agricultural products each day, which is expected to increase by 80 per cent to 13,000-15,000 tons a day during the pre-Tet period.