There are some countries that have dealt with the pandemic better than others. Both in the first wave and in the second wave. Like New Zealand, which according to Bloomberg data is the best country to be in right now. There is, however, another country, poorer and with a long history, that has "excelled" in dealing with the pandemic and is looking to the future with great optimism. And this is Vietnam.
The dynamic response to the pandemic has led analysts and the IMF to predict that this year, Vietnam's economy will grow, which will almost triple in 2021. The country of Southeast Asia has only 1.420 cases and 35 deaths. The last death was reported on September 3, while the active cases in the country at the moment are only 110.
The measures used by Vietnam were, of course, quarantine and travel bans, but the lockdown lasted only 3 months. What made the difference in a country with fewer resources than others is the rapid preparation of tests and a policy that combined them with the rapid and immediate tracking of contacts, which allowed cases to be brought under control and measures taken to work from home.
So he managed to keep the factories open, which worked safely and allowed people to return to work. At first there was a fear that the demand for clothing, shoes and technology would fall. However, the Vietnamese market does not depend solely on another. Thus exports to China increased by 15%, to the US by 23%, while exports of electronics increased by a total of 26%.
So even though the growth target was set at 6,8%, the fact that Vietnam will grow by 2,4% at a time when the world economy is in recession can only be positive for the Vietnamese. Tourism may have been hit, but Vietnam remained in a much better position compared to e.g. with neighboring Thailand, which is expected to decline 7,1% this year.
The communist government made injections into the economy, with investment in the public sector increasing by 34%, making it the highest in the last nine years. In fact, the investment was not limited to businesses but also infrastructure projects, such as bridges and roads, projects that created jobs for many people. According to Adam McCarthy, chief financial officer of Mekong Economics based in Hanoi, "the way the pandemic has been handled has made Vietnam famous all over the world. "Vietnam's 'triumph' this year could bring huge benefits in the years to come."
Source: Sigmalive