Demand for goods and services in February 2011 may rise slightly due to an increase in the purchasing power among people who like to celebrate the Lunar New Year (Tet) Festival along with other festivals.
According to the Ministry of Finance, total overseas remittances in 2010 rose sharply, by 25.6 percent to US$8.3 billion over the previous year and more would come before or during the Tet holiday.
However, the increasing number of foreign visitors to Vietnam and over 500,000 Vietnamese returning from overseas to enjoy Tet will drive prices up.
The Ministry has taken effective measures to control rice hikes to ensure electricity and coal supplies for households and businesses to maintain activities.
The ministry has also decided to control the price of petrol, some essential goods and services.
It has urged local authorities to help stabilize market price by preventing the illegal smuggling of goods through borders.
Prices in February may rise
Demand for goods and services in February 2011 may rise slightly due to an increase in the purchasing power among people who like to celebrate the Lunar New Year (Tet) Festival along with other festivals.
Source: VOV
