Vietnam’s economy is asia’s shining star at the time of the coronavirus

Vietnam is one of the countries that managed to manage the coronavirus pandemic on a medical point of view excellently. The country has so far confirmed just under 1,300 cases of the disease and nearly four dozen victims. This is mirrored in the favorable economic outlook for next year.

The economy of this nearly 100 million-strong country is the only Southeast Asian country to report growth in gross domestic product. According to the International Monetary Fund, the performance of the Vietnamese economy will increase by 2.4 percent. The Fund appreciates that the Vietnamese government has taken swift and effective steps to subdue the coronavirus epidemic, which means high hopes for the country’s economy to accelerate its growth in 2021.

The International Monetary Fund of Vietnam predicts that its economy will grow by 6.5 percent. Over the next year, both domestic and foreign demand for Vietnamese production is expected to stabilize, and Vietnamese companies are poised to take vaudly after those affected by the coronavirus pandemic so negatively that they are unable to meet demand.

Although Vietnam does not have such an advanced health infrastructure, it managed to manage the pandemic through a quick and effective government response and respect for social distance between people. The economy has also been boosted by anti-epidemic measures being taken in other countries, as people around the world have started to make large purchases online. And often goods that are produced just in Vietnam.


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