Illustrative photo (thoibaotaichinhvietnam.vn)

Fancy Foods Company has received full orders for the year-end festive season, including the solar and lunar New Year holidays. Its Product Development Director  Nguyen Dang Thu Thao expected output to increase more than 30%.

“We expect purchasing power during Tet to double or even triple compared to last year. We have plans to stockpile raw materials and work on packaging to have the best prices,” said Thao.

This year’s solar and lunar New Year celebrations will fall 1.5 months apart, which means businesses will have two opportunities to stimulate demand from mid-November until the end of next February. Consumer spending habits are changing, with a preference for Vietnamese products having clear label of origins and reasonable prices.

Richy Southern Food Company has put into operation all three production lines to increase its Tet supply by 30% and ensure delivery schedules.

“We have prepared plans to secure input materials, applied technology, and optimized production processes to reduce waste. Recently, the Government extended the 2% VAT reductions, helping enterprises secure more capital for year-end production,” Deputy General Director Hoang Dang Anh Kiet said.

According to the Ho Chi Minh City Food and Foodstuff Association, this year’s list of Tet price-stabilization goods have been prepared earlier and in greater volume. Many businesses have committed to increasing supply and expanding product categories.

“All enterprises have reliable supply of raw materials to ensure steady year-end and Tet production. We plan to increase supply by 15 to 20%,” Ly Kim Chi, Chairwoman of the Association, said.

Along with business efforts, Ho Chi Minh City is launching a series of supply-demand connection and promotional programs until the end of the year, helping enterprises expand markets and boost consumption of Vietnamese goods.