Vietnam Exports Struggle Amid Covid Outbreaks
Companies that relocated production to Vietnam following President Donald Trump's imposition of China tariffs now find themselves fighting local restrictions due to recent COVID-19 outbreaks in Southeast Asia, Bloomberg reported Sept. 1. In particular, the southern provinces of Binh Duong…
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and Dong Nai further extended stay-at-home orders and curfews in their localities for another 15 days staring Sept. 1, the report said. In response, an effort has been made by the Vietnamese government to vaccinate workers at factories, including Samsung's in the north and Intel's in Ho Chi Minh City. Vietnamese manufacturers are seeking to ramp up the vaccination push ahead of the year-end holiday surge, Bloomberg said. Per data from IHS Markit and JPMorgan included in the report, many of Vietnam's export wins following the start of the pandemic have taken a dip, with the purchasing managers index for the country falling below 50, indicating a contraction in market conditions for manufacturers.