The Ministry of Industry and Trade (MoIT) has ordered departments of industry and trade in cities and provinces to take measures to ensure the sufficient supply of goods at affordable prices for the upcoming Lunar New Year, or Tet, holiday in late January.

Departments are instructed to closely watch market developments and consult with local authorities to prepare plans to stockpile essential items and implement measures to stabilize the market, according to a dispatch issued by Minister of Industry and Trade Nguyen Hong Dien on November 20.

They are also required to organize activities to connect distributors and suppliers of essential items, and to coordinate with localities to implement trade promotion programs and link supply and demand to boost the consumption of quality products. Special regional products and organic agricultural products will be prioritized for wide distribution, contributing to price stabilization and supporting farmers after recent natural disasters.

Departments are also responsible for coordinating with local market watch forces to enhance inspection and supervision to prevent any speculation of goods and unreasonable price increases during the holiday.

The ministry also asked production units, especially in the essential food and consumer goods sectors, to proactively plan the production and supply of goods to meet demand during Tet, to prevent shortages, price hikes, and speculation.

Electricity and petroleum enterprises are directed to develop plans to ensure a stable supply of electricity and petroleum for production and consumption during Tet.