Vietnamese businesses launch price stabilisation programme

Businesses participating in Ho Chi Minh City's (HCMC) price stabilisation programme carried out their pledges to reduce the prices of eight essential commodities on the initiative's opening day June 21.

The eight commodities include red meat, poultry, poultry eggs, processed foods, rice, sugar, cooking oil, fruits and vegetables. Participating companies have received interest-free loans from the city in order to cut the specific goods' prices by 10% from normal market prices.

HCMC has spent nearly VND381 billion (US$20 million) on loans for the programme that aims to stabilise prices through March 31, 2011.

Besides supermarkets, Vissan meat sellers also lowered prices in line with the price stabilisation programme. Other businesses have also reduced prices they had registered, but have yet to advertise the reductions well.

Some businesses like Huynh Gia Huynh De, Phu An Sinh, Ba Huan, Saigon Co.op, Vissan and Satra plan to sell the goods for their new prices at export processing zones, industrial zones and remote areas.