The Bien Hoa Confectionery Corporation, or Bibica, plans to supply about 1,250 tonnes of confectionery, up 10 per cent over the previous Tet.— File Photo

HCM CITY (Biz Hub) — Enterprises in HCM City have basically completed plans to prepare goods for the upcoming Tet (Lunar New Year) holiday, which falls on January 31, 2014, according to the municipal Department of Industry and Trade.

Le Ngoc Dao, the department's deputy director, said that firms have speeded up production and started stockpiling nine commodity groups that fall under the city's price stabilisation programme.

The department has also encouraged enterprises to increase reserves of other goods like beverages, beers and confectionery, Dao said.

Supply from enterprises taking part in the city's price stabilisation programme will account for 30-40 per cent of goods in the market, three wholesale markets will cover another 40-50 per cent and other enterprises (those not participating in the programme) will comprise the rest, she said.

Many enterprises have said they plan to increase supply for this Tet.

Vissan Company, one of the country's biggest meat processing companies, plans to invest VND600 billion (US$28.4 million) to store meat and processed food for the upcoming festival, 20 per cent more than last Tet.

The Bien Hoa Confectionery Corporation, or Bibica, plans to supply about 1,250 tonnes of confectionery, up 10 per cent over the previous Tet.

Many poultry and egg providers like Ba Huan, Vinh Thanh Dat, Pham Ton and San Ha have said they have increased investments to raise supplies by up to 30 per cent for this Tet.

The enterprises have assured that commodity prices would be stable from now until the holiday. They have also said that they would launch promotion campaigns as the festival nears, as also opening more sales points in crowded residential areas to facilitate purchases of Tet goods.

According to the department, the number of outlets selling price-stabilised goods has increased strongly over the last few years, reaching 7,500 as of September this year from just 2,000 in 2008.

Foreign invested supermarkets have also participated in the city's price stabilisation programme, working with their distributors to stock essential goods and offer good prices to customers. — VNS