Vietnam'S Textile Industry Has Been Hit Hard By The Epidemic

At present, the epidemic situation in Vietnam is severe, and a total of 19 provinces and cities have entered the state of action restriction. Affected by the epidemic situation, 97% of textile enterprises in South Vietnam have suspended production. Most of the first batch of factories have been shut down since 0:00 on July 15. They need to comply with the principle of "three on the spot", produce on the spot, eat on the spot and rest on the spot, and then go back to work after being checked and approved by the local CDC officials. The second wave of regulations will be implemented from July 19 to July 31, and the control will not be lifted until there are no new cases for 14 consecutive days or when the local government of Vietnam issues another notice.

Although the export orders of Vietnam's textile industry have been received in the third quarter, it is difficult for enterprises to balance production activities, ensure employees' employment and obtain profits. The delay of payment for 2 to 3 months or even 6 months for brand customers is beyond the capacity of enterprises. Moreover, in the face of the huge risk brought by the increasingly complex epidemic situation, some brand customers have moved their orders out of Vietnam, and even have the trend of returning to the Chinese market.