Chambers of Commerce call on Vietnam to reopen its economy soon

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Foreign chambers of commerce are urging the government to reopen the local economy to keep investments in the country.

The call came from AmCham, EuroCham, KoCham and the United States-Asean Business Council, which said that if Vietnam does not reopen its economy soon, foreign companies could shift their investments to d ‘other countries.

In a petition to the government, the chambers of commerce said at least 20% of their members had moved some manufacturing activities to another country like China, and more discussions are ongoing. Once the supply chain changed, it would be difficult for these companies to come back, they said.

They added that investments will not increase without a clear plan to reopen and recover in the country, and that new investors cannot arrive without reasonable immigration policies. Chambers stressed the need for an app or system to ensure consistent travel between localities, and a mechanism to issue “green cards” to foreigners who have been fully vaccinated.

The Four Chambers also said vaccines were key to economic recovery, with AmCham Vietnam calling on the US government to donate more vaccines to Vietnam.

READ: Vietnam launches digital transformation program

Vietnam manufactures nearly a third of American shoes and a fifth of American clothing, and plant closures in the country threaten to disrupt supply chains for the next holiday shopping season in the United States, according to Vn Express.


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