A strong COVID-19 response, surging exports and healthy public spending 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 with border disruptions and containment measures hammering the country’s tourism industry.
While many countries have suffered from high infection and mortality rates, Vietnam recorded fewer than 1,500 cases and 35 deaths thanks to mass quarantines, expansive contact-tracing and strict controls on movement, allowing factories to stay open and people to get back to work.
Demand for items made in Vietnam — such as home electronics, office furniture, computers and televisions — soared during the pandemic as people were forced to stay home during lockdowns.
While it will fall short of its 6.8 percent growth target this year, the economy is still expected to expand 2.4 percent.