Việt Nam has some great advantages while competing with regional countries in attracting capital flows moving out of China after the COVID-19 pandemic, experts have said.

The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year

Speaking at the Prime Minister’s conference with the business community on May 9, PM Nguyen Xuan Phuc once again emphasised that once the social distancing is eased and ‘the beat’ of society has returned to normal, the economy will be like a squeezed spring and it will be time for it to get ready to unwind. Therefore, ministries, sectors and localities must join hands in removing difficulties for enterprises towards reform, innovation, and a high level of responsibility.

Vietnamese businesses reeling under financial stress due to the COVID-19 pandemic have become vulnerable to foreign takeovers and need the Government's support, according to experts.

The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.

With a supply chain that over relies on only a few key partners, Vietnam’s textile and garment industry is among the country’s hardest hit by the COVID-19 pandemic.

COVID-19 put tourism in Southeast Asia on hold. ASEAN economies need their tourism sectors to get moving again once restrictions are lifted—but it will take time and a flexible approach.

With a limited state budget, Vietnam should mobilize social resources to support startups and large-scale enterprises, those considered capable of driving the economy forward.

With the resumption of key economic sectors' activities, such as manufacturing, services and retail, Vietnam’s economy is accelerating to get back to its normal state.

Some developing countries in Asia, including Vietnam, could still grow amid the COVID-19 pandemic due to an increase in domestic demands when the manufacturing sector recovers.