Bac Ninh Province focuses on year-end market stabilization

After the Ministry of Industry and Trade held a conference on December 23 to review the sector’s activities in 2024 and develop its tasks in 2025, Bac Ninh Provincial People’s Committee Vice Chairman Dao Quang Khai instructed the Bac Ninh Department of Industry and Trade to focus on developing an implementation plan for 2025, aiming to effectively advise the Provincial People’s Committee on matters related to the industry and trade sector. In addition, the department will continue implementing measures to support small- and medium-sized enterprises’ involvement in supply and production chains. Priority will be given to stabilizing the market towards year’s end and during the 2025 Lunar New Year holiday to prevent sudden price hikes. The department will closely coordinate with the provincial Market Surveillance Department to intensify market control, combat smuggling, trade fraud, and counterfeit goods, and strictly handle violations.

The supply of goods and services in Bac Ninh Province is abundant and diverse

To ensure supply-demand balance and stabilize the market at the end of 2024 and during the 2025 Lunar New Year holiday, the Bac Ninh Department of Industry and Trade has issued Plan 1702/KH-SCT.

Under the plan, the province will ensure supply-demand balance for essential consumer goods, such as rice, livestock and poultry meat, poultry eggs, seafood, processed foods, white sugar, cooking oil, confectionery, beverages, fruits and vegetables, and petroleum products.

Goods will be supplied through two channels: 1) Traditional sales channels, including three shopping centers, over 350 convenience stores, and a network of grocery stores, supermarkets, and markets across the province; 2) Multimedia sales channels, including e-commerce platforms, websites, shopping applications, and social media.

According to a report by the Bac Ninh Department of Industry and Trade, preliminary assessments indicate that business and production activities in the province are thriving, with an abundant and diverse supply of goods and services, and social welfare ensured. Specifically, in 2024, the total retail sales of goods and services are estimated at VND101 trillion, an year-on-year increase of 10.5 percent, reaching 103.1 percent of the plan. Foreign trade activities remain stable, with the total import-export value estimated at US$75.9 billion, a year-on-year increase of one percent, achieving 100 percent of the plan. The export value is estimated at US$41.5 billion, up two percent, reaching 100 percent of the plan.

The Bac Ninh Department of Industry and Trade will guide, inspect, and supervise the preparation of goods for the Lunar New Year by trading companies, shopping centers, supermarkets, and markets across the province. It will also coordinate with localities to carry out trade promotion activities to support the sale of safe food products and specialties of the province, thereby creating a stable supply of goods during the Lunar New Year.

The Department of Industry and Trade also requires businesses producing and trading in essential goods to proactively plan production and supply for the Lunar New Year, stockpile materials, reduce costs, and prioritize the use of domestic materials to maintain stable production. Additionally, businesses must ensure adequate reserves of essential goods to avoid unreasonable price increases, and actively expand their distribution networks, particularly in rural areas, industrial parks, and industrial clusters./.