Việt Nam’s manufacturing sector is coming under pressure from supply chain disruptions as a result of the Covid-19 outbreak in China. Photo doanhnhansaigon.vn HÀ NỘI — Fitch Solutions has revised down its 2020 real GDP growth forecast for Việt Nam to 6.3 per cent, from 6.8 per cent previously, in light of the worsening global Covid-19 outbreak. “We believe that the Covid-19 outbreak will heavily impact growth in the first half of the year, mainly due to disrupted supply chains in the region which would weigh heavily on manufacturing and weak tourist arrivals as well as general domestic fears of infection which would drag on services activity,” analysts of the global financial information services provider said in a report released on Tuesday. “That said, our forecasts currently factor in our assumption of a gradual subsiding of the virus outbreak in the second half of 2020, which underpins our view for a sharp rebound in trade activity as supply chains and tourism activity normalises.” Fitch forecast Việt Nam’s large manufacturing sector (accounting for 16 per cent of the country’s GDP) to come under pressure from supply chain disruptions as a result of the Covid-19 outbreak in China, which is a key source of raw materials and also a major… Read full this story
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