Strong virus response helps Vietnam’s economy weather pandemic – Business

A strong response to the coronavirus pandemic, surging exports and healthy public spending have helped Vietnam buck a global recession in 2020 and fast-track its recovery, with analysts predicting it will likely enjoy one of the highest growth rates in the world.

But the pain is not over for some sectors with containment measures and border disruptions hammering the country’s tourism industry, and leaving the once-booming aviation sector limping.

While many countries have suffered from high infection and mortality rates, Vietnam has recorded fewer than 1,500 coronavirus cases and 35 deaths thanks to mass quarantines, expansive contact-tracing and strict controls on movement, allowing factories to largely stay open and people to swiftly get back to work.

“The serious lockdown lasted for less than three months, so domestic activity was quickly back to normal by June,” Nguyen Xuan…