Hanoi to spend $24 million to stabilize prices
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Hanoi city is expected to spend VND500 billion (US$24 million) this year to help reduce spiraling prices after a record hike in petrol and electricity prices.
According to the city’s Department of Industry and Trade, a fund worth VND500 billion (US$24 million) this year is dedicated to running a price stabilization program for basic commodities.
The new program, around VND100 billion more than last year’s, will be maintained throughout the year and expanded to the outskirts, said Nguyen Van Dong, deputy director of the department.
Last year’s fund was channeled to Tet’s goods sold at supermarkets and shops in the central area.
