City Authorizes Funds for Food Price Stabilization

A field of rice in the Mekong Delta region  (Photo:KK)

The city has authorized VND400 billion (US$25 million) for an effort to stabilize the price of foods including rice, pork, beef, poultry, seafood, vegetables and grain, according to a press release from the Ho Chi Minh City People’s Committee.

The money will be transferred to the city’s Investment Fund for Urban Development to provide zero-interest loans to state-owned companies. Participating enterprises must submit their business plans for approval.

By Tuan Son – Translated by Kim Khanh

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