HCMC offers interest-free loans in price stablization effort

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Ho Chi Minh City authorities will spend VND380.6 billion (US$20.1 million) on a program to stablize prices of eight essential products until the end of March next year.

Under the program, 14 companies in the city will receive interest free loans so that they can lower the retail prices of the products, including rice, sugar, cooking oil and meat, by 10 percent starting Monday.

But the city's Industry and Trade Department noted that the amount of goods prepared under the program will only be able to meet around 20 percent of consumers' demand.

The 14 companies participating in the price stablizing program include the HCMC Food Company, Saigon Agriculturel Incorporation and Saigon Co.op, a major supermarket chain.

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