Some 528 enterprises, or 0.06 per cent of Vietnam’s total, have been hit hard by falling orders, according to the Ministry of Labor, Invalids and Social Affairs.

Of these, 65.3 per cent are foreign enterprises and the remainder private firms.

These businesses operate mainly in the fields of garments and textiles, footwear, wood processing, and supporting industries.

Weakening demand has put 637,000 workers at risk, with 53,000 losing their jobs, or 8.4 per cent. More than 359,000 workers saw their hours cut, and over 22,600 workers were made redundant.