Local airlines could see a decline in revenue of up to VND65 trillion (US$2.7billion) due to the pandemic, much higher than an earlier estimate of VND30 trillion (US$1.27 billion).
Many retailers in phone and electronics segments focus on developing online channels to survive during the coronavirus pandemic period.
Once Vietnam's parliament ratifies the trade deal, it can enter into force 30 days after Vietnam and the EU have notified each other that legal procedures have been completed.
The magnitude of the impact of the coronavirus outbreak will depend on the length of disruptions, which is hard to predict, Moody’s noted.
From April 1, Grab and beGroup announced to suspend their operations, except for delivery and personal shopping services.
Based on newly-updated data, Vietnam could export around 6.5 – 6.7 million tons of rice in 2020 without any significant impact on food security.
Once Vietnam's National Assembly also ratifies the EVFTA, the agreement can enter into force, most likely in early summer 2020.
Passenger transport from/to Hanoi and Ho Chi Minh City will be halted from March 30 to April 15, except for inter-provincial passenger routes.
Air carriers will limit transport services from and to Hanoi, Ho Chi Minh City, Danang and Phu Quoc from March 30 until April 15.
Despite growing difficulties from the Covid-19 pandemic, there remain opportunities for enterprises to thrive.
Vietnam's trade turnover is expected to reach US$115.34 billion in the January – March period, down 0.7% year-on-year.
If Vietnam continues to export rice with the same pace as it did in the first two months of 2020, the country may face a shortage of essential food.
Rice exporters that have completed filling out customs declaration forms before March 24 could still go ahead as usual.
The US did not impose any restrictions on Vietnam’s exports, but the Covid-19 pandemic could impact the US – Vietnam trade outlook.
Hanoi has planned four scenarios to ensure sufficient supply of goods for people in isolation areas.
The bloc’s travel restriction, however, would not impact trade relations between Vietnam and the EU in the immediate future.
Vietnam Airlines will resume operation of the two routes upon receiving updated rulings from authorities.
The FDI sector posted exports of US$26.2 billion in the January – February period, up 5% year-on-year and accounting for 67% of Vietnam’s exports.
The demand on online shopping in Vietnam is increasing, bringing positive results to e-commerce platforms in Vietnam.
Only passengers meeting all immigration and health requirements are allowed to board Vietnam Airlines flights.