Exports grew spectacularly as Vietnam entered the new normal after the COVID-19 pandemic. (Photo: Vietnam+) Hanoi (VNA) - March 15, 2023 marks one year of entering the "new normal" when the Government decided to fully open the economy from the successes of the COVID-19 vaccination campaign.
The decision to fully reopen from March 15, 2022, is of great significance to accelerating the program of economic recovery and development. This comes after two years of implementing social distancing measures to control the COVID-19 pandemic.
Moreover, the resumption of supply chains, which are likened to "blood vessels" for trade flows, has created a strong boost for trade, promoting Vietnam's import and export with other countries.
Bounce back strong
Looking back on two years of struggling to adapt to COVID-19 prevention and control measures, the General Director of Garment 10 Corporation Than Duc Viet shared that Garment 10 has its headquarters in Long Bien district (Hanoi). It also has factories in 7 other provinces and cities, so during the isolation period when the fourth outbreak of the pandemic occurred, it affected the production activities of the company.
During the period of 2020-2021, the pandemic caused production to cycle between a "closed and open state." To adapt to the “new normal” situation, Garment 10's strategy is to be proactive and flexible and apply remote working technology, especially for export orders to the US, Europe and Japan.
Employees of Ha Tay Textile Chemical Co. Ltd, take measures to prevent pandemics in production lines. (Photo: Vietnam+) In Vietnam, the textile and garment industry not only contributes to economic development but also ensures social security.
After 20 years, Vietnam's textile and garment export turnover has increased from 1.96 billion USD in 2001 to over 40.4 billion USD in 2021, accounting for 12% of the total export turnover of the country.
Enterprises take advantage of opportunities to promote exports. (Photo: Vietnam+) In 2022, despite many difficulties in the world and the domestic economy, the textile and garment industry still achieved the export target of 44 billion USD, up 8.8% from 2021.
Maintain the pillar of development
Along with investment and domestic consumption, exports - one of the three main pillars of Vietnam's economy - made a strong leap in the past year despite the negative impact of the pandemic and the political turmoil in several countries.
According to Minister of Industry and Trade Nguyen Hong Dien, 2022 was a year with many unprecedented difficulties and challenges due to the complicated developments of the world economy. However, with the effective policies of the Government and the outstanding efforts of the business community, Vietnam's economy has recovered strongly, achieving many important targets.
Notably, import and export continued to grow, setting a new record with a total turnover of about 732 billion USD, maintaining a trade surplus for the 7th consecutive year, bringing Vietnam into the group of leading economies in terms of international trade. Among them, exports increased by 10.5%, reaching about 371.5 billion USD, exceeding the planned targets assigned by the National Assembly and the Government.
In the context of the international market facing many difficulties and the domestic economy being strongly affected by the pandemic, the total import and export turnover still reached a new record and double-digit growth in exports is a miracle, said the economist Vu Dinh Anh.
The pandemic is under control and has left many valuable lessons learned. Important perspectives are the flexibility in operating policies and the creativity and adaptability of businesses to restore supply chains./.
