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Thursday, July 25, 2024

Order shortfall raises concerns among businesses

The Saigon Times

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HCMC – HCMC, the nation’s economic center, has seen 51 producers in 17 processing zones and industrial parks reporting an order shortfall, which has forced many of them to resort to mass layoffs.

According to the authority of the processing zones and industrial parks in HCMC, 51 businesses with almost 6,000 workers have suffered from the order shortfall, reported VOV, the national radio station of Vietnam.

The jewelry and high-end products sectors, including garments, footwear and woodwork, are most affected.

The order shortfall is attributed to the Russia-Ukraine military conflict, political, social and security instability, and rising fuel prices.

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