Vietnam’s manufacturing industry is suffering supply network issues owing to the coronavirus outbreak, which may delay production of Samsung Electronics’ new smartphones, the Ministry of Industry and Trade said Friday.
Vietnam Thursday relaxed some health-associated curbs on cross-border trade to improve economic activity; however, some strict measures are still in place.
Samsung, Vietnam’s most significant single international investor, is an example, the company stated. The pandemic would have an effect on its production of two new smartphone models, as a lot of the parts are procured from China.
Although the ministry has not reported any manufacturing facilities being shut down due to the virus, the largest problems facing automotive and electronics makers are securing alternative materials and items, including stock management.
“If the epidemic is not contained in the next 1-1.5 months, we will be in trouble. Local TV’s and smartphone’s production will sheerly fall,” stated the Industry Agency, citing a report by the Vietnam Electronics Business Association.
The federal government stated it will stick to this year’s economic development aim of 6.8% and lay out measures to soften the impact of the epidemic.
The Ministry of Health stated Friday that 15 out of 16 confirmed coronavirus cases in the nation had recovered, while 28 suspected cases had been being isolated in a hospital.