16:54' 28/04/2008 (GMT+7)
VietNamNet Bridge – The city government has initiated several measures to curb inflation and keep prices in check on essential goods.
Among the measures is a request to companies to boost factory production, lower the cost of raw material inputs, and reduce the hoarding of essential goods.
The trade sector has asked Vissan, the country's largest producer of processed meat products, to keep prices stable until June.
Trade officials said the company had enough meat imports to meet increasing demand for processed foods until the end of the year.
The city's food companies have been urged to regularly stockpile around 2,000 tonnes of rice to ensure food security.
The city's Union of Trading Co-operatives, its supermarkets and trading centres have arranged to cut prices on commodities to ensure that prices remain lower than the market price.
The city will also not increase fees for hospitals and public transport such as buses and ferries.
The city will also earmark VND1tril (US$62.5mil) from the local budget to help enterprises boost production and market products to reduce the price of daily essentials by 5-10%.
Recent price hikes
In the last few days, the price of essential consumer goods, such as paper and cement, has increased sharply.
The price of paper has soared to more than VND17mil a tonne, a record level.
The construction industry is now facing a hike in cement prices. For example, the price of a 50-kilo bag of Ha Tien cement rose by 20% to VND67,000.
Despite the price hike, a cement shortage remains because of the construction boom in recent months.
Phan Thi Kim Hoa, marketing manager of Ha Tien 1 Cement Company, blamed the recent hike on the increase in cost of materials, transport fees and building materials.
Prices of daily essentials such as rice, meat and milk have risen, leading to financial hardship for low-income residents and the poor.
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