Enterprises in most sectors said import-export activities in the second half of the fourth quarter this year and the beginning of 2023 will face many tough situations compared to the third quarter this year, a news agency reported.

Vietnamese textile, garment and footwear firms are facing several difficulties, including reduced export orders, and that may continue till 2023 first half. Key export industries, including furniture, are projected to see a huge fall in orders. Many businesses have reduced staff and the scale of production to wind down in the last few months this year.

Manufacturing enterprises should focus on market expansion as current export markets are shrinking and demand is falling, Phan Thi Thanh Xuan, vice president and secretary general of the Vietnam Leather-Footwear and Handbag Association (LEFASO), said.

LEFASO is coordinating with the ministry of industry and trade to deploy trade promotion programmes to support businesses to access more markets.

Fibre2Fashion News Desk (DS)