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

© Reuters. Pham Minh Chinh, Vietnam’s prime minister, attends an August 25th, 2021 meeting at Hanoi’s Government Office in Hanoi. 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.

It is now seeking co-existence with the virus, despite having one of most impressive containment records until April.

Due to restrictions on movement and the outbreak, some of its factories were forced to close.

Chinh said that safe areas can relax COVID restrictions, revive social activities and business around September 30.

He said that “Fighting pandemics is more than just putting up restrictions and physical barriers.”

As Vietnam sees a decline in daily deaths from the virus, this decision was taken. On Saturday it reported 9682 cases, the lowest number of infections in Vietnam for three consecutive days. With 18,400 deaths, the country has now recorded 746 600 cases.

Foreign investors in Vietnam have warned the government that its strict lockdown rules in the south has forced some companies to move production elsewhere.

According to state media, Vietnam’s Gross Domestic Product could increase between 3.5% and 4.0% in this year. This is well above the 6.5% government target.

Vietnam has a population exceeding 98 million and is increasing its vaccination programme. Although the number of daily immunizations has reached 700,000 per day, Vietnam’s 7.61% vaccination rate remains one of its lowest.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.