Vietnam’s pandemic response predicts strong bounce back

06:00 | 01/06/2020 Society

(VEN) - International media agencies have praised Vietnam’s success in the fight against the Covid-19 pandemic, suggesting that this presages fast economic recovery in the post-pandemic period.

vietnams pandemic response predicts strong bounce back

Prompt action, public mobilization

On May 6, the Czech newspaper Halo Noviny cited Vojtech Filip, first deputy chair of the Czech Parliament’s Chamber of Deputies and leader of the Communist Party of Bohemia and Moravia, as saying his country should be inspired by Vietnam’s defeat of the Coronavirus.

Filip said Vietnam has achieved success in Covid-19 prevention and control and had been free of Covid-19 community transmission and deaths for many weeks. As a result, the country has begun to ease emergency measures. He also said that with more than 96 million people and a long border with China and without advanced technologies like the Republic of Korea, Vietnam had nonetheless quickly responded to the pandemic by implementing a series of prompt and drastic measures.

The BBC News quoted David Hutt, a Southeast Asian political columnist writing for The Diplomat, as saying that the Communist Party of Vietnam had taken action in a responsible manner and given priority to saving people’s lives during the Covid-19 pandemic.

By being transparent and proactive in communicating with the public, the Communist Party of Vietnam and the government have been able to gain and maintain public confidence, he said.

Through drastic and prompt measures, as well as support for workers affected by the pandemic in an effort to leave no one behind, authorities ensured the public’s confidence in the government’s response and belief that it is being protected. Therefore, the crisis also bears witness to the unity of the entire nation, he added.

The Diplomat, a Washington-based online magazine covering politics, society, and culture in the Asia-Pacific region, also posted many articles praising Vietnam’s efforts in

Covid-19 prevention and control. It pointed specifically to the mobilization of the entire political system, including the military and public security forces, and the people in the fight against the pandemic.

Japan’s Nikkei Asian Review stated that the speed with which Vietnam claims to have flattened the infection curve demonstrates its skill and nimbleness.

vietnams pandemic response predicts strong bounce back

Prospects of new FDI wave

Hutt said if Vietnam is able to maintain positive results in the Covid-19 battle, the country may achieve a faster recovery than other Southeast Asian economies.

Vietnam’s success in the Covid-19 battle has made a good impression on foreign investors, indicating a new wave of foreign investment could soon be pouring into the country.

Vietnam is positioning itself as an attractive destination for trade and investment. Companies looking to diversify their manufacturing portfolio outside China are attracted to Vietnam thanks to its proximity to China, free trade agreements and the government’s ambition to establish Vietnam as a manufacturing hub for Southeast Asia.

Vietnam has built up a network of free trade agreements, allowing it to interact with the largest economies in the world. The diversification of trade partners is one of the best solutions for the Vietnamese economy to reduce risks and limit dependence on certain markets. The latest and most awaited trade deal is the EU-Vietnam Free Trade Agreement (EVFTA), expected to go into force this year.

In addition, Vietnam’s participation in global supply chains has contributed to improving the position of its goods and brand names.

With expectations of a breakthrough in expanding economic scale and increasing productivity thanks to technological and innovative progress, Vietnam has also promoted digital transformation - a leading factor in growth facilitation and digital economy development.

To maintain good economic growth, Vietnam needs to continue the fight against corruption, promote the development of the banking sector, diversify the national economy, ease dependence on exports, and make room for startups. Vietnam should also focus on some key sectors in order to improve labor productivity and national competitiveness.

Quynh Anh