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Michael Tatarski reports from Ho Chi Minh City on how Vietnam’s paint sector was hit hard by COVID-19 but is looking forward to medium-term green growth
COVID-19 made 2020 an incredibly disruptive year for the global manufacturing sector and Vietnam’s paint and coatings sector did not escape the pandemic impact. This was despite the fact that this south east Asian country had an apparently low impact from the disease, with a reported 9565 cases (as of June 9, 2021) and a reported 55 deaths from a population of 98M, albeit with a rash of new cases in June 2021. One result of this was that Vietnam was one of the few countries in the world to maintain overall economic growth in the face of the COVID-19 pandemic last year, with GDP growth at 2.9%. This, however, masked uneven performance, with government lockdowns knocking demand and the ability of projects to proceed through labour shortages and logistics challenges. The importance of the construction sector to Vietnam’s paints and coatings was a particular weak point, with this industry contracting.
Read the full report here: Vietnam 2021
