Ho Chi Minh City to Allow Interest-Free Loans to Local Businesses for Tet

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Dec. 9 – The Ho Chi Minh City government will allow VND409 billion worth of zero-interest loans to nine food producers and retailers to maintain food prices for the coming Tet holidays.

The companies said they would not allow more than a 10 percent increase in food prices during the New Year Lunar holiday, which happens mid-January of 2009.

During the past Tet holidays, food prices have climbed by up to 50 percent.The companies availing of the loans are Saigon Co.Op, Vissan, Huynh Gia Huynh De, Phu An Sinh, and Saigon Agriculture Incorporation.