In 2019, the industry is estimated to have exports of US$39 billion, up 7.55% year-on-year and around US$1 billion lower than the target of US$40 billion.

The disruption of materials supply chain from major markets to Vietnam has led to a lower growth rate of the industrial production index in the first two months.

The Indian ambassador said both Indian and Vietnamese companies will find opportunities to support one another.

The FDI sector posted exports of US$26.2 billion in the January – February period, up 5% year-on-year and accounting for 67% of Vietnam’s exports.

Companies in the industry could lay off 30% of their employees in April and 50% in May due to the lack of orders.