Though Vietnam has done exceptionally well in quickly containing COVID-19, the pandemic has taken unprecedented toll on its economy. However, it is notable room for the country to further accelerate reforms and climb up global value chain to meet its long-term development goals, heard at a forum on September 29.

The Vietnam Trade Office in Malaysia and the Vietnam Malaysia Business Association (VMBIZ) on September 23 signed a memorandum of understanding (MOU) on enhancing cooperation to boost trade and investment between the two countries’ businesses.

As Covid-19 lockdown measures have forced employees to work from home and companies to upgrade their tech, demand for digital services globally has boomed. At the same time, demand for other service sectors, such as transport and tourism, has tumbled. According to a new report, the post-pandemic recovery and growth of cross-border trade in services, estimated to contribute more than half (55%) of all global trade flows, is expected to rely on digitalisation and the adoption of new technology.

The COVID-19 pandemic which is expected to be prolonged and drawn out at least until a vaccine is readily available, has rekindled the call for ASEAN, a market of nearly 700 million people and growing middle class, to further forge and foster regional integration.

In life, economic and health gains are not always equal. This is true for individuals but also for countries. While Vietnam has managed to contain the COVID-19 outbreak so far, its economy has been hurt in recent months.

How energy sectors react to COVID-19 depends upon the questions they ask and the insights they gain. In Asia, which has long been an engine of global growth and a key player in conventional fuels and renewables, the question is usually something like, ‘what effect will the collapse in oil prices have on energy economies?’

The number of job cuts in Vietnam could rise in the second half of the year as manufacturing companies see orders plummet over coronavirus impacts.

The coronavirus pandemic has accelerated in G20 countries a trend towards policies designed to safeguard national security interests against threats associated with international investment, according to a joint report launched by UNCTAD, the Organization for Economic Co-operation and Development (OECD) and the World Trade Organization (WTO) on 29 June.

ASEAN nations should reevaluate its economy post-pandemic to one that is more resilient, digitally enabled, inclusive and sustainable, says the regional bloc secretary general Datuk Lim Jock Hoi.

OVID-19 is exposing the vulnerability of global value chains (GVCs). GVCs contribute to rapid economic growth by enabling multinational corporations to increase their efficiency through fragmented, task-based specialisation.