Impacts Of The 4th Covid Wave On The Vietnamese Economy And Foreign Direct Investment

Abstract

April 27, 2021 is a very memorable day for Vietnamese people when the COVID-19 pandemic returned, and found its way to Ho Chi Minh City - the most populous city and the largest economic center of the country, where about 20 million people live and work, accounting for more than 1/5 of the population, 22.5% of GDP, 27.5% of the national budget. In just a short period of time, the number of infected people nationwide has reached 826,837 with 20,223 deaths. From a country considered to be the world's example of Covid 19 prevention, Vietnam has ranked 121 out of 121 in the global anti-Covid ranking. This paper presents an overall picture of Covid 19 through 4 phases and the effects of the pandemic phase 4 on the overall Vietnam’s economy including GDP growth, employment, income, and some typical industries and on foreign direct investment in particular. The study also describes the Vietnamese government’s response to the COVID-19 crisis, covering health emergency responses, as well as macroeconomic support measures aimed at mitigating socio-economic impacts.