Vietnam economic outlook during the COVID-19 pandemic: A review

This study reviews the effects of the COVID-19 outbreak on the development of Vietnam’s economy and the change of the Vietnam government’s policies to adapt to critical challenges. The COVID-19 pandemic seriously has been impacting all economies around the world including Vietnam. To bring the pandemic under control, Vietnam performed the same strategies that had been successful in ending earlier outbreaks: targeted lockdowns, travel bans, business closures, mass quarantines, and widespread testing. However, the Vietnam government has also flexibly taken decisive steps to reduce both the health and economic fallout. Vietnamese economy increased by nearly 3% in 2020, ranked one of the fastest-growing economies in the world, backed by the early rebound of domestic activities and robust export performance thanks to their drastic and appropriate actions.