Vinatex to ask for permission to export anti-virus products

Business News

Vinatex to ask for permission to export anti-virus products

Friday, March 27,2020

AsemconnectVietnam - Vietnam National Garment and Textile Group (Vinatex) will ask for the Government’s permission to export anti-virus products as a measure to overcome difficulties caused by the novel coronavirus (COVID-19) pandemic.

Those include products like antiviral face masks, antibacterial medical clothing and non-woven disposable clothes.

Vinatex would enhance its search for export orders of anti-virus products.

Le Tien Truong, Vinatex’s director said at the group’s online conference with 22 of its member companies on Wednesday that the COVID-19 pandemic is weighing heavily on the garment and textile industry.

From the beginning of March, a number of orders were cancelled, Truong said, anticipating that April and May would be a difficult time for many companies, including losing financial liquidity due to high stockpiles or shortages of jobs for workers.

Vinatex said that although many factories in China resumed operation but due to dimmed global consumption demand, the industry would see significant decreases in prices, estimated at more than 20 per cent.

This was creating considerable pressure on local garment and textile producers, Truong said.

Vinatex estimated that if the COVID-19 pandemic was over in May and the economy started to recover from June, the industry would suffer a loss of VND11 trillion (US$474 million).

Source: Bizhub.vn

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