MoIT will continue support for businesses after epidemic: Minister
| |
Local businesses have received support from the State during the coronavirus epidemic and the supports would be maintained after the epidemic (Photo: baodansinh.vn) |
If the epidemic is controlled in the second quarter, local businesses should take advantage from Q3 at home and abroad and focus resources to resume their business, he said.
The minister added that the ministry would work to create favourable conditions for local firms.
Since the coronavirus outbreak started, the ministry had evaluated the impacts of the disease on Vietnam's economic and trade activities and had proposed solutions to other Government bodies to help businesses, he said.
During the minsiter’s visit to Garment 10 Corporation, Than Duc Viet, the company's general director, said the corporation’s major products were shirts, suits and trousers. The epidemic had caused a lack of raw material for those products.
This had led to an interruption in production, he said. Therefore, the corporation’s total revenue this year was expected to fall by 10 percent against last year while revenue in the first quarter was also estimated to drop by 10 percent year-on-year.
Nguyen Thanh Tung, general director of the Ha Tay Chemical-Weave Co, Ltd, said his company’s main products were vulcanised shoes with a localisation rate of more than 70 percent, with the remaining raw materials imported mainly from China. The epidemic had forced the company to seek other suppliers at home and abroad.
If the epidemic was prolonged, the firm might run out of material for production, he said.
The minister said, in the long term, Vietnam needed to develop the support industry for the textile, garment, leather and footwear industries. Local enterprises could not depend solely on raw material imports.
Related News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Binh Duong Customs notifies businesses of regulations on labeling and origin of goods
10:20 | 29/03/2023 Customs
Binh Dinh introduces economic, trade potential to Belgian businesses
20:44 | 25/03/2023 Import-Export
Latest News
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Vietnam commits to building prosperous, fair, healthy Mekong River basin: PM
16:09 | 05/04/2023 Headlines
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
More News
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines
State visit to Vietnam by Australian Governor-General to deepen the two’s goodwill, trust: expert
14:10 | 03/04/2023 Headlines
Vietnam"s economy to grow by 6.6% this year: OECD
17:45 | 02/04/2023 Headlines
Bright outlook for Vietnamese tourism in new situation
16:52 | 02/04/2023 Headlines
Vietnam, US hold 12th Political, Security, Defence Dialogue
20:25 | 01/04/2023 Headlines
Vietnam calls for comprehensive, all-society approach to waste management
14:32 | 31/03/2023 Headlines
Many factors support foreign capital flow
13:40 | 30/03/2023 Headlines
Foreign SMEs pour capital into Vietnam
13:37 | 30/03/2023 Headlines
Leaders of aviation firms to be disciplined if employees committed wrongdoings
15:38 | 29/03/2023 Headlines
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Vietnam commits to building prosperous, fair, healthy Mekong River basin: PM
16:09 | 05/04/2023 Headlines
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines