Business News

The impact of the ongoing pandemic has been noted as particularly acute for Vietnam’s export-reliant economy. Aside from computers and machinery, most of Vietnam’s top products registered lower exports compared to the same period last year. However, figures indicate that Vietnamese goods are still in demand.

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There is a serious shortage of empty containers for exports from Việt Nam, Phan Minh Thông, general director of agriculture products exporter Phúc Sinh Joint Stock Company, said.

Nguyễn Duy Hồng, deputy director of Smartlog Supply Chain Solutions Corporation, said the growing logistics industry, especially in HCM City, offered a great opportunity for providers of logistics management systems, and domestic businesses generally could provide solutions more suited to addressing Việt Nam’s logistic problems than foreign ones.

The success story in Covid-19 fight could be the key for Viet Nam to win trust from the international community, including foreign investors, in the post-Coronavirus period.

Vietnam is facing many opportunities to accommodate shifting foreign direct investment (FDI) inflows as well as to increase the sustainability of supply chains. However, the country has difficulty participating deeply in the processing and manufacturing industry and is lagging behind other countries in the region in this respect.

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Vietnam’s export and import value in November decreased and the state budget revenue collected by customs agencies reached only over VND284 trillion (US$12.3 billion). Many challenges and pressures on the customs sector needed to be addressed to achieve the best result in the last month of this year.