COVID-19 has significantly affected many economies throughout the world, but there are some brighter signs in Vietnam. Declared as a pandemic in early February, effective health policies and early action have mitigated the impact of COVID-19 in Vietnam and the country has maintained low numbers of cumulative cases and deaths compared to other comparators.
The first lockdown began on April 1st and was nationwide, lasting 15 days. These lockdowns were extended to some provinces for longer duration, then eased into social distancing measures. By mid-May, social distancing measures were also lifted. At the end of Q2, the Vietnamese economy was proving to be resilient, with its GDP expected to grow by about 2 percent in 2020, while the GDP of most other ASEAN economies are expected to contract.
However, a second outbreak in Danang increased the uncertainty about the duration of the pandemic. As the pandemic continues, the resiliency of households and businesses will be strained, and additional outbreaks are unpredictable. While Vietnam stood out as a good performer early, uncertainties remain regarding longer-term impacts and how the country will ultimately emerge from COVID-19.
Thus, it is important to conduct continued monitoring and assessment of this uncertain situation to better inform policy decisions on how to mitigate the impact of COVID-19 on firms and households as well as supporting a robust economic recovery.
This website hosts data, results, and analysis from the World Bank’s household and firm high-frequency phone surveys.
Firm COVID-19 Monitoring Survey
In order to understand the impacts of COVID-19 on Vietnamese firms, the World Bank designed a Business Pulse Survey (BPS) to assess the various channels of impact of the pandemic on firms, their adjustment strategies, and public policy responses.
The first round of the BPS was implemented in Vietnam in June 2020 and collected responses from 499 firms through a mix of phone and in-person interviews. Four subsequent rounds will be conducted in September 2020, November 2020, January 2021, and March 2021. The firm surveys are being collected by the General Statistics Office of Vietnam, under the supervision of the World Bank.
Household COVID-19 Monitoring Survey
To monitor the social and economic effects on households amid the pandemic, the World Bank designed and conducted its COVID-19 High-Frequency Phone Surveys of Households in Vietnam. This monitoring data helps gather insights on household well-being as post-lockdown reopening unfolds, and to highlight the effects on the most vulnerable members of Vietnamese society.
The first round of the Vietnam household high-frequency phone survey was conducted between June 5 to July 8, 2020. Over 6,000 households were contacted from all provinces in the country. Subsequent rounds are being conducted in July, September, and November 2020. The household surveys are collected by the Mekong Development Research Institute, under the supervision of the World Bank.
The firm and household surveys are being funded with the generous support from the Australian Department of Foreign Affairs and Trade, and the World Bank Trust Fund for Statistical Capacity Building.
A vendor arranges the products in her storefront Vendor. Hanoi, Vietnam. Photo: Simone D. McCourtie / World Bank
Laboratory in Hanoi where tests on Avian Flu are being conducted. Photo: Simone D. McCourtie / World Bank
Sifting seeds in a field along Red River in Northern Vietnam. Photo: Quy-Toan Do/World Bank
Computer lab at Hanoi University. Photo: Simone D. McCourtie/World Bank