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Vietnam to relax COVID-19 restrictions to revive pandemic-hit economy

Economic IndicatorsSep 25, 2021 10:10AM ET
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© Reuters. Vietnam's Prime Minister Pham Minh Chinh attends a meeting with U.S. Vice President Kamala Harris at the Government office in Hanoi, Vietnam, August 25, 2021. Manan Vatsyayana/Pool via REUTERS

HANOI (Reuters) - Vietnam plans to ease coronavirus curbs and allow businesses to restart production from next week to prop up an economy which has suffered under lengthy lockdowns, Prime Minister Pham Minh Chinh said on Saturday.

The country, which until late April had maintained one of the world's best containment records, is seeking to co-exist with the virus instead of trying to maintain a COVID-zero policy.

The current outbreak and related restrictions on movement have impacted its manufacturing-led economy, forcing the closure of some factories.

"Around Sept. 30, safe localities can ease COVID restrictions and revive business and social activities," Chinh told a government meeting.

"Fighting the pandemic is not just setting up physical barriers and restrictions," he said, adding the pandemic was more or less under control.

The decision comes as Vietnam has seen a drop in the daily death rate from the virus. It reported 9,682 new cases on Saturday, marking the third consecutive day the rate of infection has been below 10,000. The country has recorded over 746,600 cases in total, with 18,400 fatalities.

Foreign investors in Vietnam have warned the government that its strict lockdown rules in the south has forced some companies to move production https://www.reuters.com/business/european-investors-warn-shift-away-vietnam-over-restrictions-2021-09-10 elsewhere.

Vietnam's gross domestic product could grow between 3.5%-4.0% this year, well below the government's earlier target of 6.5%, the country's Minister of Planning and Investment Nguyen Chi Dung was cited by state media as saying.

Vietnam, with a population of 98 million, is accelerating its vaccine programme. Although daily inoculations have reached 700,000, its vaccination rate of 7.61% is one of the region's lowest.

Vietnam to relax COVID-19 restrictions to revive pandemic-hit economy
 

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Comments (4)
Mike Mike
Mike Mike Sep 26, 2021 5:59PM ET
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This filthy place has more people die from std than covid.
king michael
king michael Sep 25, 2021 1:47PM ET
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Are Vietnamese labor really cheap? Most American work in retail and other service area make just $10 - $15 an hour minus 30% income tax, 8.5% shopping tax, property tax, medical tax, gas tax, ....... and end up always debt in credit card.
Millennial Metals
Millennial Metals Sep 25, 2021 1:02PM ET
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Vietnam is more capitalist than the USA
Jose Maderno
Jose Maderno Sep 25, 2021 10:20AM ET
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The shoe companies are all upset... the slaves in China had much fewer restrictions other than bad publicity.  Phil needs his cheap labor!  Now!!!
Emmanuel Ekuban
Emmanuel Ekuban Sep 25, 2021 10:20AM ET
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okay
Emmanuel Ekuban
Emmanuel Ekuban Sep 25, 2021 10:20AM ET
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how's the labor force
 
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