AmCham Director said that despite Covid-19, Vietnam’s role in the supply chain is still increasing.

According to the CEO of the American Chamber of Commerce (AmCham) in Hanoi, Adam Sitkoff, Covid-19 has disrupted but not derailed Vietnam’s growing role in the global supply chain.

In the context of the recent sharp increase in the number of Covid-19 cases, Vietnam has encountered many obstacles in maintaining production and export activities – one of the key “fronts” of the battle to keep trade. international markets for a wide range of products, from apparel and computer chips to automobiles.

Although Covid-19 is causing obstacles to Vietnam’s role in the supply chain and the rate of full vaccination of Covid-19 vaccine in Vietnam is still less than 3% of the population, Mr. Sitkoff still believes that Vietnam will continue to attract investment, including investment moving out of China. He emphasized that Vietnam’s economy grew by 2.9% last year, the best growth rate in Asia.

In a report on September 7, ANZ bank made a similar view, saying that the long-term outlook for the Vietnamese economy remains positive, despite the current “deep decline” in domestic demand. .

“Apart from short-term challenges, Vietnam’s medium-term economic outlook remains favorable,” the ANZ report said. However, the report also warns of risks to the bank’s 5.2% growth forecast in 2021 for the Vietnamese economy.

*******************************************************************************Dong Du International Accounting & Legal Consulting Group Vietnam, A member of OneSMP Singapore, Southeast Asia Business Consulting Network, we specialize in accounting services, corporate tax advice, legal advice, business training, human resource consulting, product & market surveys…over 15 years up to now in  the Vietnam market. Currently, we have also built a team of foreign experts from Japan, Taiwan, Europe, Singapore, Thailand, Cambodia … to help customers inside and outside Vietnam to expand appropriate business opportunities as well as possible.


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