Vietnam’s clothing exports are expected to rise 7.4% this year to $43.5 billion as factories maintain production despite rising coronavirus infections, the country’s textile and clothing association told Reuters.

Among the world’s largest manufacturers of brands such as Nike, Zara and H&M, Vietnam recently lifted most of its COVID-19 restrictions, which disrupted production and hampered global supply chains last year.

“The pandemic will have a milder impact on the garment and textile industry in Vietnam this year due to high vaccination coverage,” Truong Van Cam, vice president of the Vietnam Textile and Apparel Association, said in an interview this week.

###: How to set up an import/export business in Vietnam as foreign investors.

Daily coronavirus infections in the Southeast Asian country hit a record high of 31,800 on Tuesday, but companies and experts said the risk of a repeat of last year’s lockdowns is lower now that millions of factory workers have been vaccinated and the Omicron variant appears to be less severe. read more

Cam said last year pandemic-related closures affected up to 1.2 million garment workers, or 65% of the industry workforce. Almost all of them are now back to work, he added.

“Thanks to the country’s flexible policies to deal with the pandemic while restoring business activity, especially from the fourth quarter of 2021, the garment and textile industry has been able to significantly reduce supply chain disruptions,” he said.

Vietnam has registered 2.57 million cases of COVID-19 and about 39,000 deaths. According to official data, more than 76% of the population of 98 million people have received at least two doses of vaccine.

The tourism ministry has proposed to fully reopen the country to foreign tourists from March 15, three months ahead of schedule.

Reuters



Source: Vietnam Insider

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