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Wednesday, October 20, 2021

Vietnam could suffer huge export losses without relaxation of restrictions

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HCMC – If Vietnam maintains social distancing and restriction measures for too long, more enterprises will have to suspend operations, which will result in huge export losses, said deputy head of the Ministry of Industry and Trade’s Import-Export Department Tran Thanh Hai.

For example, as 19 southern localities, which account for 45% of the country’s total export value, have been practicing social distancing, the export losses have been some VND9 trillion per day, Lao Dong newspaper reported.

Besides these localities and Hanoi, some other localities have applied anti-pandemic measures to some extent, causing difficulties for enterprises.

Many enterprises are also tired of inconsistent regulations in a district or province.

Hai explained that there have been many regulations, and regulations are being continuously amended, while officials at the lower levels are not being updated with the new ones in time.

As some localities have brought the pandemic under control and the vaccination coverage has increased, it is necessary to resume economic activities to help enterprises restart their operations.

Although statistics on the losses of enterprises and the local economy amid the pandemic have yet to be worked out, the losses with the export revenue have been huge.

As the Covid-19 pandemic still exists, the country should find ways to live safely with it, Hai added.

When economic activities are resumed, safety must be the first priority. Accordingly, laborers must be vaccinated against Covid-19 or test negative for the coronavirus.

However, enterprises may face a shortage of laborers. Therefore, they should resume activities step by step based on their business models and scale.

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