The Ministry of Industry and Trade (MoIT) has issued a directive urging agencies to promote domestic consumption and ensure an adequate supply of goods during the Tết (Lunar New Year) holiday and the first quarter of the year.
Despite global political instability and inflation risks, Vietnam’s economy saw positive recovery last year, largely driven by growth in the industrial and trade sectors. To sustain this momentum, the MoIT has directed provincial and municipal departments, as well as corporations, businesses, and industry associations, to develop robust production and business plans alongside strategic supply chain management.
The ministry’s directive emphasizes the importance of addressing potential market fluctuations and ensuring stable prices during the holiday. Local departments are tasked with monitoring supply and demand for essential goods, particularly those with high demand or price volatility, and proactively implementing solutions to prevent shortages or unexpected price hikes.
Additionally, the MoIT encourages collaboration with businesses to forecast consumer demand and establish reserves of essential goods. It also calls for cooperation with banks to help small and medium-sized enterprises (SMEs) access preferential loans to bolster their production capacities.
The ministry has urged nationwide promotional programs to stimulate the consumption of Vietnamese goods, especially safe agricultural products, regional specialties, and items under the One Commune–One Product (OCOP) initiative. Petroleum companies are also asked to maintain adequate stock and ensure a stable supply in line with business regulations.
Trade associations are encouraged to coordinate with the MoIT to balance the supply of high-demand items, such as food, candies, alcoholic beverages, soft drinks, clothing, and footwear, during Tết. Furthermore, they are urged to support SMEs in accessing financial policies, reducing production costs, and expanding distribution networks—especially in rural and remote areas—to ensure that all consumers have access to quality goods at fair prices.
This initiative seeks to boost local consumption and stabilize the market during the festive season, reinforcing Vietnam’s economic recovery and promoting domestic products.
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