Vietnamese businesses have enough export orders till year-end

(VOVWORLD) - Despite the COVID-19 pandemic, many Vietnamese businesses have signed export orders from now till the end of this year. 
Vietnamese businesses have enough export orders till year-end  - ảnh 1Tra fish processing for export. (Photo: Vu Sinh/VNA)

Vietnam’s exports rose 30% to reach nearly 131 billion USD in the first five months of this year, according to the General Statistics Office.

22 export categories, including electronics, garments and textiles, footwear, and timber products, earned more than 1 billion USD each.

Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), said seafood exports rebounded from the same period last year.  

“The industry’s revenue dropped last year due to COVID-19, but the Government's epidemic containment measures this year have enabled fisheries and seafood exports to grow dramatically, 22% in April and 24% in May,” said Nam.

The Vietnam Leather, Footwear and Handbag Association reports that, thanks to COVID-19, orders have been shifting to Vietnam, offering domestic businesses opportunities to restore production and supply chains. Along with the flourishing market demand, prices of Vietnam's export goods have also increased. 

Than Duc Viet, CEO of Garment 10 Corporation, said domestic businesses have signed orders until the end of the third quarter, contrary to predictions made last year. 

Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association, said many textile firms have orders until the end of this year as a result  of Vietnam’s good epidemic control and political and macroeconomic stability. 

“This year, the garment and textile industry will likely reach its target of 39 billion USD in export turnover. Vietnam’s exports in the first half are estimated at 16 billion USD. Although the result is less than hoped, it reflects a great effort during the epidemic by all businesses in the field," said Giang.

"The good news is that many textile enterprises have signed orders until the end of the third quarter, or even the end of the year. The orders exceed the production capacity of some businesses,” he added.

Economists say that boosting vaccination will control the epidemic and soon bring businesses back to normal operation. 

Businesses, the Government, and the public must continue to consider epidemic prevention the central task of developing production, according to economist Dinh Trong Thinh.

“Various measures are needed to stimulate domestic demand so producers can feel secure in ramping up production. The expansion of import and export activities through implementing recent FTAs will give Vietnamese businesses, especially exporters, an opportunity to continue their production and access new markets,” said Thinh.