Speaking to Customs News, Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade) said that Vietnam is a favorable location for the convergence of supply chains. In the future, if the Government issues documents with certain criteria in the movement of workers, it will greatly facilitate businesses in restoring production.
Investment during the pandemic has proved challenging for investors across the globe. However, hopes for this top-performing Asian economy are growing as the Vietnam market has outperformed other international peers thanks to its GDP growth amid COVID-19 last year, according to the Bangkok Post.
Many enterprises in the processing and manufacturing industries with large export turnover such as textiles, footwear, wood, etc. are eagerly looking forward to returning to production, when many localities gradually reopen their economies after social distancing. However, complicated conditions, different policies in localities and labor shortage are major challenges that most businesses have to face.
After four months of constant decline, fruit and vegetable exports in September 2021 were "fresh" again. Notably, the deceleration of fruit and vegetable exports to the Chinese market has had a significant impact on fruit and vegetable exports in general.
The purchasing demand of the international market continues to grow along with meeting the necessary factors to reopen production, creating a solid basis for the rapid recovery of the Vietnamese furniture processing and exporting industry after being heavily affected by the pandemic.
Ho Chi Minh City and many southern provinces are gradually opening up the economy, enterprises have been returning to the "race track" to restore production, but have not been able to speed up.
Though the pandemic has seriously impacted the world and Viet Nam, it has accelerated the supply chain shift by diversifying, regionalising the production chain and scaling up global value chains.
Many useful experiences in agricultural exports to the EU market were shared by experts at the webinar "Exporting Agricultural Products to EU during Covid: Challenges and best practices”, held on the afternoon of October 13.
The Ministry of Industry and Trade assessed that the restructuring of the import market in 2011-2020 has not reached the goal. Vietnam has a trade deficit with many Asian markets, typically from China; while imports from "source technology" markets such as the EU and North America remain limited.
Import and export goods of Ho Chi Minh City’s enterprises in recent months have been on the decline. Ho Chi Minh City is worried that it will be difficult to maintain growth momentum to reach the export target this year.
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