Hanoi (VNA) - TheGeneral Statistics Office (GSO) forecast if the coronavirus epidemic is stampedout in the first quarter this year, Vietnam’s industrial production value inthe first quarter would increase by 2.68 percent year-on-year, lower thangrowth rate of 9 percent in the first quarter of 2019 and 10.45 percent in thefirst quarter of 2018.

Production value of themanufacturing and processing sector, accounting for a large segment in thedomestic industrial production, is estimated to increase only 2.38 percent. Ifthere had been no epidemic, the processing and manufacturing sector wasexpected to surge by 10.47 percent.

In addition, other industrialproducts would also lose production value due to an extended epidemic includingtextiles, garment, leather and shoes that need imports of raw materials fromChina such as yarn, fabric, cotton, thread, needle, leather, and otherequipment and accessories for the textile, leather and garment sectors.

To stabilise domesticproduction, GSO General Director Nguyen Bich Lam said the GSO had proposed theGovernment monitor trade activities, especially key export products andmarkets, and then solve problems of producers and traders of those products.

In addition, the Government andministries should support businesses in sectors that had suffered losses fromthe coronavirus epidemic, especially the textile, leather, electronics,automotive, steel and food processing sectors.

The State should supportbusinesses in getting loans, training workers and expanding distributionsystems.

Meanwhile, localities shouldtake recommendations from enterprises to help them during the current difficulttime. 

According to Minister ofPlanning and Investment Nguyen Chi Dung, localities should implement importantpublic investment projects for local socio-economic development. 

The State should focus onimproving the business environment to encourage private economic development,he said./.