With Vietnam successfully bringing the novel coronavirus (COVID-19) epidemic under control, local firms have begun to receive new export orders whilst others have been striving to seize upon the fresh opportunities to recover, according to insiders.

A number of commodities have successfully been able to maintain
their growth momentum during four-month period 

According to the General Statistics Office (GSO), during first four months of the year, the country’s export turnover of goods increased by 4.7% to nearly US$83 billion in comparison with the same period last year, with trade surplus estimated to reach US$3 billion.

Meanwhile, the agricultural sector’s export value throughout the reviewed period dropped by 4.9% on-year to US$11.9 billion, yet still managed to record a trade surplus of US$2.8 billion.

Elsewhere, a number of commodities which have successfully been able to maintain their growth momentum, including, timber and wood products, coffee, cashew nut, vegetables, rattan, along with bamboo products.

Nguyen Quang Hoa, director of Duong Vu Co.Ltd, an enterprise that specialises in exporting sticky rice from the Mekong Delta province of Long An states that as of April 24, sticky rice will be permitted to be exported based on market demand.

Hoa elaborated that the country had put a temporary stop to the export of rice, including sticky rice, for a period of one month, leading to a scarcity in consumption markets such as China, the Philippines, and Malaysia.

Phan Minh Thong, general director of Phuc Sinh Joint Stock Company, noted that the company’s major export products- coffee and pepper- have both achieved a growth rate of approximately 20% in contrast to the same period last year.

Despite the coffee industry enduring a sharp decline in terms of sales volume in coffee chains, restaurants, and hotels due to the negative impact of the COVID-19, the quantity of coffee distributed in the supermarkets of importers and via online sales channels has enjoyed a significant increase, according to Thong.

He can attribute these positive signs to the efforts made by domestic businesses and the support provided by the government in facilitating a continuing circulation of goods amid the complicated nature of the impacts of the COVID-19.

Ong Hang Van, deputy general director of Truong Giang Seafood Joint Stock Company in the Mekong Delta province of Dong Thap, revealed that the company’s export orders in April witnessed a 1.5-fold increase when compared to the first three months of the year.

Van expressed that although seafood exports to both the United States and China have enjoyed strong growth during the epidemic period, the price of aquatic exports has fallen due to foreign partners pushing the price lower.

Based on this, he therefore advised businesses to wait until June to boost their exports in order to enjoy higher export prices and to be alert to keep tabs on updates in terms of the evolving market situation.

The apparel and textile sector has been one of the industries hardest hit by the impact of the COVID-19 pandemic with orders from the EU and US markets coming to a standstill as consumers prioritise the need to purchase essential goods.

Pham Van Viet, deputy chairman of the Ho Chi Minh City Association of Garments, Textiles, Embroidery, & Knitwear, said due to the temporary suspension of large-scale orders from major markets, local firms have turned to places such as Japan, the Republic of Korea, and other ASEAN member states.

In addition to this, they have also shifted to produce face masks and protective clothing in an effort to help create jobs for Vietnamese workers during this challenging time.

Viet has advised businesses to restructure their operations and to prepare for the post-pandemic period with the EU and US markets anticipated to bounce back by the end of September or by the end of the year.

According to a representative of Vietnam Pulp and Paper Association, in a bid to remove difficulties caused by the epidemic, paper enterprises have taken advantage of machine maintenance, strived to transform their respective business models, and are in the process of seeking new customers.

The representative went on to propose devising flexible policies aimed at helping enterprises enjoy access to capital sources and maintain production, thus contributing to reviving the economy in the near future.