Shawn Khong, head at Citi Vietnam Commercial Bank What were the main highlights coming out of the survey? Over 35 per cent of respondents indicated a significant negative impact to their business due to the pandemic, including more than a 25 per cent decline in sales turnover or to their bottom line when compared to the prior year. Many of these companies are from the retail, digital/e-commerce, travel, logistics, and professional service industries that were impacted by a slowdown in consumption. Manufacturers, especially in the electronics, garments, and footwear supply chains saw delays or cancellation of orders especially from the US and Europe. The survey results are broadly consistent with what has been widely reported in recent news coverage on the adverse impact that the pandemic had on businesses in Vietnam. On the upside we were happy to know that 85 per cent of survey respondents have their staff fully back in the office. Of the remainder, many planned to have at least 70 per cent of their staff returning to site by the end of last month. Nearly 40 per cent of survey respondents expressed a preference to minimise face-to-face meetings with external parties at this moment, while nearly… Read full this story
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