The US is a large market for Việt Nam’s garment and textile industry. VNA/VNS Photo HCM CITY – Raw material imports from China are no longer the concern for many Vietnamese industries, and it is now the frequent cancellation of orders by US and EU customers, according to the Ministry of Industry and Trade. In the last couple of months many Vietnamese businesses lacked raw materials that used to come from China after that country closed down to combat the Covid-19 outbreak. But now, according to the ministry, 72 per cent of China’s small and medium-sized enterprises and all large ones have resumed normal operations. As a result, the supply of imported raw materials and components for manufacturing industries in Việt Nam has mostly recovered. In the textile and footwear industries, for instance, supply of raw materials is back to 60-80 per cent of normal. However, when this problem began to be resolved by the end of March, Covid-19 broke out in the EU and the US, causing consumer demand for clothes and footwear to slump. The production capacity of these industries is far higher than domestic demand since they are mainly geared for exports, especially to these two markets…. Read full this story
- China raw materials supply resumes, but Vietnam’s export markets close borders
- China raw materials supply resumes, but Viet Nam’s export markets close borders
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