Some sectors to benefit, others to suffer from China’s reopening: Report
China has officially announced the easing of COVID-19 prevention measures which have been imposed for three year, and experts have said this is expected to kickstart the country's economic recovery, opening opportunities for some Vietnamese sectors in the medium term.
Workers make garment products at the Far Eastern New Apparel Vietnam Co in the southern province of Binh Phuoc. (Photo: VNA)
Hanoi (VNS/VNA) — China has officially announced🌠 theeasing of COVID-19 prevention measures which have been imposed foౠr three year,and experts have said this is expected to kickstart the country's economicrecovery, opening opportunities for some Vietnamese sectors in the medium term.
In a recent report, Agribank Securities Company (Agriseco) saidVietnamese businesses will benefit when China opens its doors and resumesflights between the two countries. According to Agriseco Research, business groups that can benefitinclude mechanical engineering, textiles, footwear, electronics, pangasiusprocessing, and automobiles. On the other hand, the prices of some inputmaterials may increase again when demand recovers, such as iron and steel,cement, and base metals. In addition to the groups that benefit, Agriseco's report alsoshows disadvantaged groups. For example, experts recommend that investorsfollow China's output recovery in the fertiliser and chemical industry. Agriseco analysts point out that when China opens up its economy,it can restore production and remove export restrictions, causing fertiliserprices to continue to fall in 2023. China is the world's leading fertiliserexporter. However, the country's production cuts created opportunities forVietnamese businesses to increase their exports strongly in the past two years.Businesses like PetroVietnam Fertiliser & Chemicals Corporation (DPM) andPetroVietnam Ca Mau Fertiliser JSC (DCM) have record growth in business resultsin 2022. These advantages may be lost if China restores production. With the above assessment, Agriseco forecasts that the businessresults of fertiliser enterprises may go backwards in 2023 as fertiliser pricescontinue to cool down, and there may be a decline in export activities. Agriseco Research believes that the business results of chemicalenterprises will likely go backwards in 2023 due to the cooling of chemicalprices and the restoration of production in China, making export activitiesmore competitive./.
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Workers make garment products at the Far Eastern New Apparel Vietnam Co in the southern province of Binh Phuoc. (Photo: VNA) 
