Workers at a textile factory. Vietnamese enterprises have already started looking to alternative sources of raw materials to deal with a shortage of raw materials due to the epidemic in China. VNA/VNS Photo Thanh Vu The epidemic has had a significant impact on public health, transportation, tourism, education, and, importantly, trade and commerce, experts said. It has affected Vietnam’s trade not only with China but also other markets, and started hurting Vietnamese businesses. According to the Department of Import and Export under the Ministry of Industry and Trade, the impacts include prolonging delivery times and customs clearance due to the quarantine requirements on both sides. In addition, trade by road, rail and air with China has slumped. With Chinese goods not available, Vietnam has been unable to source imports, which has affected its production and exports to third markets. Many textile and footwear enterprises are therefore looking at raw material imports from other markets such as the Republic of Korea, India, Bangladesh, and Brazil. Pham Xuan Hong, president of HCM City’s Textile Association, said this would only be a temporary solution since China could not be replaced as the main supplier by anyone else due to its much lower costs. Truong… Read full this story
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