Vietnamese companies hit by Covid-19 impacts are branching into new businesses to ensure cash flow and survive the pandemic.

Vietnam is expected to make breakthroughs in exporting aquatic products in the coming time thanks to its good performance of biological safety, and benefits brought by free trade agreements (FTAs), according to the Ministry of Agriculture and Rural Development.

The production and consumption of agricultural products will encounter many difficulties amid the complicated developments of the COVID-19 pandemic, particularly in terms of fruit in harvest season such as lychee and longan.

Statistics released by the Ministry of Industry and Trade (MoIT) indicate that total import and export turnover over the four-month period surged by 29.5% to US$206.51 billion compared to the same period from last year, with the country posting a trade surplus of US$1.29 billion.

Huge opportunities exist for Vietnam and the United States to enjoy a boost in trade co-operation and build closer linkages in the supply chains of goods in the post-COVID-19 pandemic period, said experts at a seminar on April 28 in Ho Chi Minh City.

In the early stages of the COVID-19 pandemic, there was a series of overreactions about the viability of global value chains (GVCs), with some mixed feeling about China.

The COVID-19 pandemic has rocked the global economy and created unprecedented trade uncertainty and challenges for all sectors, but from the crisis may come opportunity for Vietnam’s agricultural trade, experts have said.

As the COVID-19 pandemic continues to develop in an unpredictable fashion despite vaccination campaigns being carried out around the world, experts have said that Việt Nam needs to identify and adopt a long-term plan for post-pandemic economic recovery.

Many Vietnamese exporters have seen a sudden increase in profits during the COVID-19 pandemic.

The rapid suppression of the new COVID-19 outbreak in late January 2021 has helped maintain Vietnam’s positive outlook for economic recovery this year, the World Bank (WB) has said.