The Ministry of Industry and Trade (MOIT), in an effort to rescue Vietnam’s farm produce, has decided to organize online trade between Vietnamese sellers and Chinese businesses.
Vietnam has an opportunity to become the food supplier of the world, according to Truong Gia Binh, an influential businessman.
Vietnamese food inspired on COVID-19 has been praised by international media.
If Covid-19 is contained by Q2, exports will bounce back and the 7-8 percent export growth rate in 2020 will be within reach.
Covid-19 has led to a sharp increase in the demand for essential goods.
In order to export $42 billion worth of products as planned, exports to China need to grow by 10 percent and to ASEAN by 9 percent to offset the decline in exports to the US and EU.
The next-generation FTA with the EU is believed to pave the way for Vietnam to diversify export markets and ease reliance on China.
Enterprises have begun changing their production. Three or four enterprises which specialize in exporting woodchips have bought equipment to make MDF
The Viet Nam Flour Corporation (Vikybomi) has created new food products made from wheat flour and farm produce such as dragon fruit and watermelon amid a reduction in fruit exports to China.
Imports and exports of farm produce, especially fruit, to China in the next six to eight months will not be as high as in January 2019.
Thousands of trucks are still heading for the Vietnam-China border gates, though the exports are getting stuck because of the Covid-19 epidemic.
Mekong Delta farmers are facing natural calamities and saline intrusion, as well as the decline of the Chinese market amid the coronavirus outbreak.
Problems have arisen in the first days of the Year of the Rat: the sale of farm produce to China has declined because of the coronavirus.
The US has proposed to reduce the import tax on some of its agricultural products, including chicken, some fruits, wheat, potato, pork and dairy products.
Prices of Vietnamese fruit such as dragon fruit, durian, passion fruit, and jackfruit have fallen sharply as a result of the new Chinese policy on tightening control over farm imports.