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Reporter Chatterley said: “Vietnam has had completely different measures to deal with the epidemic compared to many countries in the world.” The World Bank’s Chief Economist in Vietnam, Jacques Morisset, also shared with Young Intellectuals: “Although I am not Vietnamese, I am also very proud to see the international media. Please come continuously and report on the achievements of Vietnam.”
So what achievements have the international media recorded in the last year?
As Vietnam recovered from a nationwide social gap in April, Maybank Vice President Kim Eng shared on “Bloomberg Daybreak: Asia” that Vietnam would have the biggest advantage. in the recovery of the labor market, adapting quickly to new trends.
The famous American business magazine Forbes has also published an article with the statement “The Covid-19 pandemic cannot weaken the strength of Vietnam in outsourcing.” In particular, Forbes also claimed that Vietnam is a bright place for mental resilience and technological capability.
“A pandemic can disrupt the world, but Vietnam has all the necessary factors to stop viruses, stabilize the economy, develop technology and innovation.” Those are the findings of Ms. Anna Frazzetto, Harvey Nash’s Director of Digital Technology on Vietnam’s IT outsourcing industry cited by Forbes.
After the second pandemic wave, Nikkei Asia (Japan) has an article that explains the belief of the Vietnamese people towards the Government in the fight against the epidemic. In mid-September, Vietnam became known by the international media as an “Asian miracle” when a series of newspapers continuously reported on Vietnam’s achievements after the second epidemic wave.
Typically, Sputnik (Russia) has likened Vietnam’s economy to a “rising dawn” while the economies of Southeast Asian countries are “falling”.
The reason is that when some countries are caught in the “middle income trap”, that is, reduced competitiveness as a result of higher labor costs and living standards, Vietnam can quickly catch up with the more developed countries. in the region thanks to timely and effective policies in responding to the pandemic. At the same time, 40% of companies wishing to expand production in Southeast Asia chose Vietnam as a suitable destination for investment.
In the post-pandemic recovery period, all international experts provide positive growth forecasts for Vietnam. According to The Business Times (Singapore), Vietnam’s service industry (other than tourism) has gradually caught up with the recovery trend. In addition, the industrial and construction sectors will continue to lead the way in the country’s economic recovery.
As a result, the Asia Times also believes that Vietnam is an “exception” in the Covid-19 pandemic. In addition to data such as that of the World Bank (WB), which forecasts that Vietnam’s GDP will reach 2.8% in 2020, recovering to 6.7% in 2021, Vietnam is also in the first safe destination in the region of Asia and the Pacific had an outbreak period.
According to the Asia Times, Vietnam is one of the few bright spots in the gloomy global economic outlook. The favorable conditions for the transition of the productive chain of the companies also mean that Vietnam continues to take “firm steps” towards international economic integration.
The Asia Times concluded that Vietnam is one of the few countries that “gains more than it loses” after this global health crisis. If the current development momentum is maintained, Vietnam will become a “bright star” in the regional and global economy, a prerequisite for achieving the goal of becoming a high-income country. year 2045.
The East Asia Forum (Australia) also wrote an article: “Vietnam’s people and economy are ‘symbols of resilience’.” The document also describes the policies that the Government has adopted, such as increasing spending on public investment projects, especially in the implementation of Official Development Assistance (ODA) projects; Assistance programs for the private sector, such as investments in the country’s digital infrastructure.
As soon as the Vietnamese government concluded in writing to allow regular international commercial flights between Vietnam and some partners, the South China Morning Post (China) published a story expressing its belief that it would not do so. There may be “zero risk” when reopening international routes, Vietnam will still be able to control it to ensure socio-economic benefits and not have serious consequences for public health.
Soon after, Vietnam continued to promote cooperation with many countries around the world. The analyst of the Perth USAsia Center of the University of Western Australia, Mr. Kyle Springer affirmed that Vietnam is considered like the first candidate to the international “tourist bubble”.
On September 27, The Telegraph (UK) reported that “Vietnam can now be proud to have won Covid-19 twice.” At that time, Vietnam had gone 3 weeks without infection in the community, ending the second epidemic wave. Author Michael Tatarski concluded: “The atmosphere of trust has returned on the streets of Vietnam after successfully preventing the first outbreak in March and April.”
Regarding the shift of production chains outside of China, Nikkei Asia also reported that by 2030, Vietnam will be one of the key laptop manufacturing hubs.
Specifically, by 2030, half of all the world’s laptops will be made by countries in Southeast Asia. In particular, Vietnam and Thailand will become key production centers.
In early October, Bloomberg published an article based on data from the Korea Institute of Industrial Economics and Trade with the title “A series of Korean companies bringing factories from China to Vietnam despite the government’s call for the country.” .
Specifically, the Korean government earlier this year expanded its subsidy program to encourage information technology and services companies to regain their production lines. However, only about 80 of the thousands of companies affiliated with China announced that they would bring production lines to Korea. Instead, companies are looking to relocate factories to Southeast Asia, primarily Vietnam.
For example, Samsung Electronics Co., one of the major Korean companies, after downscaling production in China, has expanded smartphone manufacturing plants in Vietnam and India.
Hyundai Motor also increased car production in Vietnam while shutting down production lines in Beijing. Experts note that this trend may involve other small businesses.
Shortly afterwards, the New York Times published an article claiming that Vietnam was the “Asian miracle” of the new generation, after Japan and Korea. According to the New York Times, during the boom of the past, most countries considered “Asian miracles” saw annual export growth of nearly 20%, twice the average of many low- and middle-income countries at the time. . For the past three decades, Vietnam has maintained a similar pace. Even in 2010, when world trade declined, Vietnam’s exports still increased by 16% annually. This is the fastest growth rate in the world so far.
In addition, Vietnam also focuses on attracting foreign investment. In the last 5 years, Vietnam’s average foreign direct investment (FDI) has reached more than 6% of GDP, the highest rate compared to other emerging countries. Most of them are destined for the construction of manufacturing plants and related infrastructure, mainly from other Asian countries, including Korea, Japan and China.
The “old miracles” are building new things.
Can Vietnam maintain this success, despite possible challenges such as population, world trade …? The answer is possible. In the past five years, no major country has seen export growth faster than Vietnam, the newspaper confirmed.
More recently, Forbes once again mentioned Vietnam as a “potential land” for companies wanting to exploit the e-commerce market. Specifically, Vietnam’s Internet penetration rate of 65% is the premise for the development of e-commerce. According to data from Redseer research, by 2026, the total value of goods (GMV) of Vietnam’s e-commerce industry can reach 50 billion USD.
Thanks to the wave of investment in Vietnam by a number of giant tech corporations, Vietnam has also been called an “Asian tiger” by the Nikkei Asia newspaper.
In the context of the increasingly revolutionary global digital economy, the South China Morning Post claimed that Vietnam is one of the “model markets” in the development of the digital economy in Southeast Asia. While some Internet economies in Malaysia, Thailand, Singapore, and the Philippines are growing 20-30% per year, in the case of Vietnam and Indonesia, this is 40% per year.
Over the past year, the international media has repeatedly mentioned Vietnam as a symbol of new and positive things in the gloomy global economic outlook. Vietnam is gradually asserting its position in the international arena with the image of a “sunrise” (Russian newspaper), “shining star” (Asia Times), “Asian miracle” (New York Times), “Asian tiger” (Nikkei Asia) or “potential land” (Forbes).
ASEAN Presidents of the Year 2020
Vietnam has been with ASEAN for a quarter of a century and by 2020, Vietnam is honored to take on the role of ASEAN President. In mid-October, The ASEAN Post published an article showing the basis for Vietnam to become the “locomotive” of ASEAN.
According to the ASEAN Post, Vietnam has made “great strides” as a leader, especially with its success in responding to the Covid-19 pandemic, climate change, and policies aimed at political stability. In general, Vietnam is assuming a good role as the new leader of ASEAN.
