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Many sectors will recover quickly due to high market demand: experts

Experts have said that once the COVID-19 pandemic ends, higher market demand would support many sectors in quickly resuming their business.
Many sectors will recover quickly due to high market demand: experts ảnh 1A restaurant in Hue city. The F&B industry is one of sectors that are expected to recover quickly after the pandemic ends. (Photo: dantri.com.vn)

Hanoi (VNS/VNA)
- Experts have said that once the COVID-19 pandemic ends, higher marketdemand would support many sectors in quickly resuming their business.

Economicexpert Nguyen Duc Thanh said after the COVID-19 pandemic, themost heavily affected industries will recover soon, excluding the transport andaviation industries. The two industries would gradually gain growth again.

Themarket demand will arrange which sectors to recover first, Thanh told zing.vn. Therefore, the State shouldgive priority for only essential sectors serving the State.

Accordingto Thanh, the domestic market afterthe pandemic will witness many changes.

Hesaid most of the product lines are suffering negative impacts from COVID-19,including a group of products needing direct transactions with customers, suchas transportation, aviation, brokerage, private education, hotel and restaurantservices. The other group is export products that have faced suspension orrestrictions.

Thesectors with less impact from the pandemic include small-scale manufacturingand construction, or research, he said.

Meanwhile,many other sectors have gained growth during the pandemic, such as onlinetransactions and trading electronic products for entertainment or working athome, he said.

Meanwhile,Pham Viet Anh, a consultant on strategy andbusiness growth, said the service sector has often accounted for about 50 percentof GDP and created jobs for more than 30 percent of the labour force.

However,the businesses of this sector mainly are small and medium-sized enterprises ormicro ones with vulnerability during the COVID-19 pandemic, he said.

Therefore,if the sector is supported to recover, it would create a general developmentmomentum for the economy as well as bring jobs and income for a large number ofemployees, ensuring social security after the pandemic ends.

Ofwhich, people will have high demand for services such as food and beverage(F&B) and tourism after the period of social isolation due to COVID-19, hesaid. Therefore, when the social distancing ended, restaurants, cafes, hotelsand travel firms were expected to recover more quickly than other industrialsectors and agriculture that have dependence on the global supply chain.

Forthe F&B industry, Anh said the State needs to allow enterprises to resumetheir operation soon with conditions of ensuring prevention and control ofCOVID-19.

Meanwhile,domestic tourism needs to be stimulated soon because foreign tourism marketsstill depend on the situation of COVID-19, he said.

Nguyen Dinh Bich, an expert in research and analysis ofthe farm produce market, said boosting exports and stabilising the domesticmarket would help the agriculture sector to recover quickly after the pandemic.

Atpresent, there are many difficulties in exporting farm produce, so the localenterprises need to prioritise the domestic market, said the Dinh Hung Dung, deputy general director of LavifoodGroup./.
VNA

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