Today: 30/05/2020 02:05:24 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

US, EU partners’ import suspension: Enterprises in Bac Giang seek new ways

(BGO) - Not only lacking raw materials, many export businesses in Bac Giang province are also facing many difficulties as partners in the US and European Union (EU) have suspended importing goods to control the Covid-19 pandemic. To limit losses, some businesses, especially those operating in textile-garment, electronics and agricultural product sectors have sought new directions for themselves.

Cutting many orders

Since the Lunar New Year, the Paerl Global Vietnam Co., Ltd. (Bac Giang city), specialised at manufacturing garment products, has asked its workers to take alternate leave due to lack of raw materials. On March 25, the company continued to cut 830 jobs because it could not export goods to the EU market or has exported goods but failed to get payments as partners are facing financial difficulties.

US, EU partners, import suspension, Bac Giang province, local enterprises, seek new ways, Covid-19 pandemic

Due to difficulties in import and export, the Hands Hands Vietnam Co., Ltd. (Tan Yen district) has cut many jobs.

The company is looking for other markets to recover and maintain production but conditions are not favorable due to the effects of the Covid-19 pandemic.

Similarly, since partners in the EU market announced that they will stop importing goods for a long time to prevent and control the pandemic, from March 23, the Fine Industry and Trade Vietnam Co., Ltd. (Tan Yen district), specialized at manufacturing and processing electronic components, has urged 40 workers to leave their jobs. The remaining nearly 100 employees had to take temporary leave.

According to statistics from the provincial Confederation of Labor, there are currently 20 import-export enterprises affected by the Covid-19 and all of them had to cut jobs and let their workers off alternatively to adjust production. Of those, 11 enterprises are greatly impacted as they are unable to export goods, including the Fine Industry and Trade Vietnam Co., Ltd (Tan Yen), the Paerl Global Vietnam Co., Ltd., the Hung Phat Garment Joint Stock Company HPG, and the Ryusel Co., Ltd. (Bac Giang city)...

Promoting e-commerce transactions

According to Tran Quang Tan, Director of the provincial Department of Industry and Trade, EU and US countries only close their borders to humans to control the spread of the disease, not trade. However, this activity has partially affected the import and export activities of foreign enterprises.

In Bac Giang, most export markets of textile enterprises are EU countries and the US. Their export turnover in March still reached over 997 million USD but in the coming time this activity might be adversely affected.

US, EU partners, import suspension, Bac Giang province, local enterprises, seek new ways, Covid-19 pandemic

In Bac Giang, most export markets of textile enterprises are EU countries and the US. Their export turnover in March still reached over 997 million USD but in the coming time this activity might be adversely affected.

Tran Quang Tan, Director of the provincial Department of Industry and Trade.

In the immediate future, in order to minimise losses due to the impact of the Covid-19 pandemic, businesses need to be active and proactive in seeking new markets and export orders for disease prevention products, such as masks and protective clothes; seek consensus of employees on sharing common difficulties; apply flexible and rotating working regimes and reduce working hours to ensure production, employment and income for workers, thus assuring social security.

According to specialized agencies, in the coming time, in order to solve difficulties, enterprises in the province need to closely monitor and firmly grasp the Covid-19 control situation to have appropriate production and business plans. 

They should seek ways to ship goods back to markets of countries with good epidemic control such as China, the Republic of Korea and Japan, while actively negotiating with partners to ensure that goods meet standards and are disinfected, meeting all export requirements of the US and EU markets.

Another effective measure is to diversify forms of trade promotion and find new partners to export goods via prestigious e-commerce platforms in the world such as Lazada and Amazon when the pandemic is developing complicatedly at present.

The application of e-commerce business creates favorable conditions for both small and medium enterprises to easily find global markets, thereby quickly restoring production. The provincial Department of Industry and Trade and relevant specialized agencies will continue to focus on capturing, analyzing and accurately forecasting domestic and foreign market demands and situation, providing timely information for enterprises, and supporting businesses in finding new markets.

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Hoang Phuong

US, EU partners, import suspension, Bac Giang province, local enterprises, seek new ways, Covid-19 pandemic
 
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