As the official count of confirmed cases of COVID-19 — the respiratory illness causes by coronavirus — continues to climb, Vietnam is feeling the economic impact.
Many factories such as Tan Hoang Gia Trading Co., which typically imports plywood from China, have been unable to get materials from the country. With borders partially closed, companies that export to China have struggled to sell their goods.
Chinese visitors, who typically make up about a third of tourists to the country, are scarce. And, at least a few businesses are trying to bar any Chinese customers from entering, out of fear of the coronavirus spreading.
On February 14, the Vietnamese government announced it would not lower its economic growth target for 2020. As of Monday, there are 16 confirmed cases of COVID-19 in Vietnam; globally, there have been more than 76,000 total cases and more than 2,200 deaths.
Source: Business Insider