Vietnam's economy in the first half of 2020

Vietnam's economy in the first half of 2020

Vietnam's economy in the first half of 2020

Following concrete achievements in 2019, Viet Nam enters the year of 2020 with major expectations and inspiration. However, the outbreak of COVID-19 pandemic compelled Viet Nam, as well as other countries, to implement unprecedented measures (such as social distancing, border closing, etc.). These measures are necessary and have significantly contributed to the success of Viet Nam in combating the pandemic, yet also resulted in adverse consequences to the economy. In such context, the Government has promptly imposed measures to alleviate difficulties for enterprises and people. The enterprises and people themselves were also supportive of the measures and actively adapted to “new normal” context. In addition, studies and debates have increased on the approach to and design of economic recovery program and, in longer term, post-COVID19 economic paradigm.

This Report, titled Viet Nam’s Economy in the First Half of 2020 – Enabling Regulatory Approach for the New Normal, serves several objectives, including: (i) to update, and review macroeconomic development and policy changes in the first 6 months of 2020 with evidence-based analysis and perspectives of experts/Central Institute for Economic Management; (ii) to update the macroeconomic outlook for 2020; (iii) to provide in-depth analysis of selected economic issues, namely economic responses to COVID-19 outbreak in Viet Nam and new contents of Enterprise Law; and (iv) to make recommendations on economic reforms (including institutional reforms) and on macroeconomic policies in 2020.

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