Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said that Vietnam is focusing on four measures to bolster wood and wooden product export growth this year.

There are many “golden” opportunities for Vietnam to grab to restart the economy following the impact of the novel coronavirus disease (COVID-19) pandemic, said Tran Hoang Ngan, head of the Ho Chi Minh City Institute for Development Studies.

Vietnamese consumers are some of the most optimistic, among Asian countries surveyed, that their country will weather the challenges of the COVID-19, according to a McKinsey’s mid-April consumer survey.

To develop the support industry for the leather and footwear sector, the State should have policies to encourage the development of new materials, according to the Việt Nam Leather and Footwear Association (Lefaso).

According to the General Statistics Office of Vietnam, in the first four months of this year, there were 2,523 times of capital contribution and purchase of shares of foreign investors with a total value of nearly US$2 billion, an increase of 52.6 percent over the same period last year.

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday it was "very likely" the Fund would cut global growth forecasts further as the coronavirus pandemic was hitting many economies harder than previously projected.

The pandemic’s impact on the economy is the equivalent of scrambling the pieces of a puzzle and then trying to put it back together in a new shape.

In the face of difficulties caused by COVID-19, the business community is in need of support to revive its operations, and the Government has acted quickly to assist enterprises in overcoming this challenging period.

International media has continuously praised Vietnam for its successful containment of COVID-19, which can make it a reliable destination for investors seeking to resume production.

The export market shares of wood and wooden products of Vietnam are mainly in the US, Japan, Europe, and China, accounting for more than 85 percent of the total export value of the industry. However, these markets are struggling due to the pandemic so many importers have temporarily suspended import orders.