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
Notice for businesses exporting watermelons to China
09:40 | 25/04/2024 Customs
Take advantage of e-commerce leverage for export
13:25 | 20/04/2024 Import-Export
Implementing unprecedented fiscal policies to actively support people and businesses
16:25 | 17/04/2024 Finance
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Latest News
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
More News
PM chairs meeting of national committee for digital transformation
13:42 | 24/04/2024 Headlines
Seize the golden opportunity as retail giants look for supplies in Vietnam
10:34 | 24/04/2024 Headlines
Government’s action programme cracks down on illegal fishing
13:53 | 23/04/2024 Headlines
PM calls on ASEAN to pen strategic development vision
13:50 | 23/04/2024 Headlines
Forum to discuss new initiatives on ASEAN future vision: Deputy FM
15:13 | 22/04/2024 Headlines
Green transformation and ESG practice to participate in the global competition
18:11 | 21/04/2024 Headlines
Factors influencing Vietnam’s FMCG market
18:06 | 21/04/2024 Headlines
Shrimp exports to major markets bounce back
17:57 | 21/04/2024 Headlines
Quang Ninh aims to become international tourism hub
17:56 | 21/04/2024 Headlines
Your care
Standard Chartered revises down Vietnam’s GDP growth forecast in 2024 to 6%
13:51 | 25/04/2024 Headlines
Investor confidence gains traction on improved business climate
13:46 | 25/04/2024 Headlines
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
PM chairs meeting of national committee for digital transformation
13:42 | 24/04/2024 Headlines