Le Dang Doanh meets entrepreneurs from Business Association of High-Quality Vietnamese Products At a seminar about the effects of the EU-Vietnam Free Trade Agreement (EVFTA) and COVID-19 on the Vietnamese economy, Le Dang Doanh, former director of the Central Institute for Economic Management, said that the outbreak presents both opportunities and challenges for businesses. According to statistics from the General Statistics Office of Vietnam, in February 2020, the country’s export and import turnovers accounted for 21.1 and 40.1 per cent of the total trade turnover, respectively. China accounts for the largest portion of the turnover. Doanh said that domestic businesses should change course and restructure their operations. Finding the silver lining, several businesses have rolled out campaigns to help farmers hit by COVID-19 by buying up their dragon fruit, durian, and watermelon harvest to produce bread, rice paper, pizza, or noodles. Some of these products could even become new Vietnamese specialities. In addition, Doanh urged export companies to discover new markets for their products. “To avoid reliance on the Chinese market, I think this is the right time for us to think long and hard about changing course,” he said. For example, he suggested Mongolia as a potential market for… Read full this story
- AFL's missed opportunity on rule changes
- Will San Antonio Spurs Change Course And Trade Mid-Season?
- Five-year deal in hand, Matt Kalil out to change course from his first five NFL years
- Back to School: Chris Paul attends Harvard Business School course
- As MLS culture evolves, teams change course with DP investments
- Lauri Markkanen's development could change course of Bulls' massive rebuild
- How Raptors' second unit changed course of season — and why it matters against Cavs
- Jose Mourinho completely changes course with Manchester United star
- Yankees, Blue Jays change course since last meeting (Jun 01, 2017)
- Bed Bath & Beyond Changes, Closures: Can MD's 19 Stores Survive?
COVID-19 an opportunity for Vietnamese businesses to change course have 297 words, post on www.vir.com.vn at February 29, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.