Businesses help each other mitigate Covid-19 hardship

Mar 3rd at 07:59
03-03-2020 07:59:16+07:00

Businesses help each other mitigate Covid-19 hardship

Businesses are supporting one another by buying goods from each other to help mitigate the worst effects of the Covid-19 epidemic.

 

It has been more than 10 days since ABC bakery on Nguyen Trai Street in District 5 HCM City invented a new kind of bread from dragon fruit, huge quantities of which were going unsold due to the outbreak. Customers queue up to buy it.

Kao Sieu Luc, general director of ABC Bakery, told Thanh Nien (Youth) newspaper that his company has bought 30 tonnes of the fruit in two weeks.

It had planned on buying 100-200kg of dragon fruit a day, but, thanks to the demand, had ended up buying two tonnes instead, he said.

The bakery is next planning to make bread using watermelon and banana, and then more new products using agricultural products such as taro and durian, he added.

The price of dragon fruit has increased from VND10,000 (US$0.43) to VND40,000 but the company would still sign long-term contracts with farmers to buy their output, he said.

Nguyen Quoc Trinh, head of the Long An Province Dragon Fruit Association, said: "It will help farmers not depend on the China market like they used to."

Business groups and authorities are helping link farmers and businesses.

Besides the agricultural sector, the garment industry is also facing difficulties.

The HCM City Textile and Garment - Embroidery Association has helped companies sign contracts to supply anti-bacterial cloth masks to the city Union of Trading Cooperatives (Saigon Co.op) and the Pharmacity Drugstore chain.

bizhub



RELATED STOCK CODE (1)

NEWS SAME CATEGORY

Robust growth predicted for Vietnam’s power sector despite near-term headwinds

Fitch Solutions predicted power consumption in Vietnam to grow by an annual average of 6.5% between 2020 and 2029, which still remains one of the fastest growth...

Samsung starts building $220 million R&D centre in Vietnam

Samsung Electronics has started building a $220 million research and development centre in Vietnam, the South Korean tech giant’s local unit said on Monday.

Viet Nam develops modern supply system for farm products

Viet Nam is working to develop a system of modern agricultural product supply centres to promote the consumption of farm produce, enhance food safety and hygiene...

Vietnam suffers first decline in 4 years in manufacturing activiy on Covid-19

Covid-19 has severely hampered the Vietnamese manufacturing sector in February, both on the demand and supply side.

Ministry proposes new electricity tariffs

The Ministry of Industry and Trade has proposed a new retail electricity tariff which is divided into five rates instead of six. In this option, 98.2 per cent of...

Local wood firms need to seek alternative materials suppliers to cope with COVID-19

Local wood processing enterprises need to expand supply chains with a focus on seeking suppliers from domestic and overseas markets to ease disruptions from China...

Vietnam plans to adjust electricity pricing to encourage efficiency

The new calculation would make it more expensive for customers who use more than 700 kWh per month.

Ministry works on national strategy on industrial development through 2030

The Ministry of Industry and Trade (MoIT) is drafting the National Strategy on Industrial Development through 2030 with a vision to 2045 to submit to the Government...

Logistics industry problems persist: conference

The logistics industry in Viet Nam, especially HCM City, continues to face challenges like red tape and traffic congestion near border gates despite progress made...

US supports Vietnam in sustainable livestock practice

The program built the capacity of livestock experts and extension officers to enhance sustainable intensification of the sector.


MOST READ


Back To Top