July 30, 2021 17:48 | About us
Language: Tiếng Việt | ພາ​ສາ​ລາວ | ខ្មែរ | русский | 中文

Report: Nearly 90 percent of Vietnamese firms feel impact of COVID-19

Rosy Huong Rosy Huong

huongthhd@gmail.com

March 13, 2021 | 08:36

Around 87 percent of Vietnamese enterprises have been affected by COVID-19, while the remainders said they have seen no impact from the pandemic.

nz embassy care support female workers tackling covid 19 impacts NZ Embassy, CARE support female workers tackling COVID-19 impacts
5 most unique travel trends hit in 2020 amid covid 19 pandemic 5 most unique travel trends hit in 2020 amid Covid-19 pandemic
koica partners with world vision to reduce covid 19 impact on ethnic minority groups KOICA partners with World Vision to reduce COVID-19 impact on ethnic minority groups
5919-vcci
The report on the impact of the COVID-19 pandemic on business in Vietnam was released by the Vietnam Chamber of Commerce and Industry (VCCI) and the World Bank in Vietnam on March 12: Photo: Cong Thuong (Industry&Trade) newspaper

Around 87 percent of Vietnamese enterprises have been affected by COVID-19, while the remainders said they have seen no impact from the pandemic, according to a report announced on March 12.

The report on the impact of the COVID-19 pandemic on business in Vietnam was released by the Vietnam Chamber of Commerce and Industry (VCCI) and the World Bank in Vietnam. It was based on a survey of over 10,000 enterprises across the country.

Businesses that have operated for less than three years and micro, small-sized enterprises, as well as those operating in garment-textile, communications and electricity equipment production have been hardest hit by the epidemic, the survey found.

FDI firms in such sectors as real estate, information-communications, agriculture and fishery have also felt the strong impact.

0217-garment-textile
Around 87 percent of Vietnamese enterprises have been affected by COVID-19. Photo: VNA

The respondents said COVID-19 makes it hard for them to access customers, affects their capital and workforce, and disrupts their supply chains, with up to 65 percent of private firms and 62 percent of FDI businesses experiencing a fall in revenue last year.

They, however, lauded the Government’s incentives and companionship amidst the pandemic, notably fiscal policies. Seventy percent of them described such support policies as useful.

Businesses emphasised the need to enhance administrative reform and improve the efficiency of law enforcement in order to create an optimal business environment and support the sustainable recovery of enterprises.

VCCI Chairman Vu Tien Loc said through the pandemic, businesses would learn how to overcome difficulties and maintain their operation. Many have actively adjusted strategies, stepped up restructuring and worker training, and paid more attention to the domestic market, support industries and supply chains./.

vietnamese businesses keep suffering from covid 19 impact

Vietnamese businesses keep suffering from Covid-19 impact

The complicated developments related to Covid-19 pandemic both globally and domestically have caused challenges for the local business community. Many have endured negative growth over ...

miserable grabbiker carried 8 month old son along his work under baking heat of hcmc

Miserable grabbiker carried 8-month-old son along his work under baking heat of HCMC

Making both ends meet while the old mother still has to sell lottery tickets to earn their living, Mr. Hieu - a GrabBike driver - ...

31 million vietnamese workers severely hit by covid 19

31 million Vietnamese workers severely hit by COVID-19

As many as 30.8 million Vietnamese workers either go unemployed or paid less in the wake of the economic fallout from coronavirus pandemic. The figure is ...

Rosy Huong