In an effort to offset falling exports resulting from the virus outbreak, Vietnam will facilitate enterprises to take advantage of the free trade agreement with the European Union,

Efforts are being made to look for new markets for the country’s agricultural produce and seafood, whose exports have been hit by the epidemic. Vietnamese trade missions abroad are also required to support local enterprises to connect with foreign partners that can supply medical equipment and materials.

Several industries in Vietnam like automobile, garment, footwear and electronics are facing raw material shortages due to the outbreak in China and other countries. Vietnam’s raw material imports from China have dwindled. If the disease persists, supply and transport chains will be in trouble and in the worst case scenario manufacturing will have to stop or be delayed. So for instance leather factories may have to shut down if they can’t source the material from China. Production of rubber and plastic in Vietnam is largely dependent on China with 70 per cent of materials imported from the country. China accounts for 55 per cent of Vietnam’s fiber imports. China has shut down manufacturing in many cities to contain the virus. So textile companies in Vietnam have to tap other markets to meet production targets.