Despite effective management of the health emergency and good macroeconomic resilience, the pandemic dealt a severe blow to many Vietnamese workers. According to data released by the Ministry of Labour and Social Affairs, more than 30 million workers in Vietnam were affected by the pandemic-induced crisis.

The Vietnamese economy grew unexpectedly in the second quarter of this year, despite the impact of the pandemic that caused a global recession. According to data released by the General Statistics Office in Hanoi, Vietnam's GDP increased by 0.36% in April-June, compared to the same period last year. Once again the Vietnamese economy is proving to be resilient and dynamic.

Last 8th June, the National Assembly of Vietnam almost unanimously ratified the EU-Vietnam Free Trade Agreement (EVFTA). Italy, Hanoi's fourth largest EU partner and ninth EU direct investor in the country, will be particularly affected by the effects of the agreement

The administration of the Philippine capital is planning the purchase of 2,000 three-wheeled vehicles to be used in this new phase of cohabitation with the virus. The vehicles, produced by the Italian Piaggio, will be equipped with dividers to ensure social distance between passengers.

In the recently ratified agreement, there isn't only a trade component but also the investment protection part. Vietnam will have five years to adapt its legislation and ensure the protection of foreign investment in the country by setting up an ad hoc tribunal

Vietnamese Prime Minister Nguyen Xuan Phuc and his Malaysian counterpart Muhyiddin Yassin had a telephone conversation yesterday focusing on regional and international issues of common interest in the context of the pandemic. The two leaders agreed to further strengthen bilateral relations through trade and cooperation mechanisms.

Given the excellent management of the pandemic, the country has attracted the attention of the European and international community. However, it seems that international arrivals, especially from some European countries, could remain blocked until 2021. Nicolas Audier, President of the European Chamber of Commerce in Vietnam, argues that Hanoi should allow European citizens to enter the country, so as to maximize the entry into force of the free trade agreement with the EU.

With the aim of supporting the economy affected by the virus, Hanoi is pushing to increase public and private investment throughout the country. Prime Minister Nguyen Xuan Phuc has given the green light for a $9.3 billion investment in the tourism sector led by Vingroup, Vietnam's largest private conglomerate. Foreign financiers will also participate in the deal, considered one of the largest investments in recent years.

A group of investors led by the American fund KKR paid 650 million dollars for a stake in the real estate arm of the largest Vietnamese conglomerate Vingroup. KKR representatives stated that they, together with other investors, including the Singapore Temasek state investment fund, have acquired 6% of Vinhomes, Vingroup's real estate division. Vietnam thus confirms itself as one of the major beneficiaries of the diversification that many companies are pursuing in this uncertain environment.

According to Secretary of Defense Delfin Lorenzana, the Philippine government has decided to spend about $26 million to build new facilities on the disputed island of Thitu in the South China Sea. The decision will help strengthen the Philippines' maritime defence against Beijing's ambitions in the region

Indonesia has long been considered the de facto leader of ASEAN, however, the current Covid-19 pandemic has revealed new regional balances. Vietnam has grown a lot and emerged as an influential leader after having effectively managed the pandemic

Mitsubishi Motors Corporation plans to build a second automobile production plant in the Binh Dinh province. The plant would complete the investment already made in Vietnam by the Japanese company, which relies on the local economy competitiveness for the production of some cars and components

The Vietnamese Legislative Assembly ratified the Free Trade Agreement with the EU, the last step in the approval process after the votes of the European Parliament and the Council. The EU-Vietnam Free Trade Agreement could increase trade between EU countries and Vietnam by 23 billion by 2035, according to Confindustria's calculations.

The demand for electricity in Vietnam has increased significantly and the energy industry has grown rapidly over the last decade, a characteristics shared by many countries in Asia. The Diplomat Hanoi exhort to focus on renewable energy to meet the growing demand for energy, increase investments and tackle the problem of pollution

Only a few days after the end of the lockdown, FPT, a leading group in the Vietnamese technology industry, began the construction of the country's largest data center in Ho Chi Minh City. The company is confident that these investments will support Vietnam's economic development, directly proportional to the increasing demand for data.

In January 2021 four new faces will emerge from the thirteenth five-year Communist Party congress as those who will govern the 96 million inhabitants country. Although there have been exceptions over the last years, next year Vietnam's leadership will almost certainly return to be hold by four State offices.

The National Assembly of Vietnam is scheduled to hold its long-awaited final vote on the Free Trade Agreement with the European Union on Thursday. The agreement will be able to contribute to the economic recovery in the post-emergency period, as well as pushing the country towards significant reforms in terms of labour and the environment.

Also the Vietnamese car sector has suffered the heavy consequences of the pandemic. Furthermore, many companies in the country are in great difficulty due to unfavourable tax policies. It is therefore necessary for the Vietnamese government to think about more flexible policies to support its automotive industry at this delicate time.

During the trade war between Washington and Beijing, Vietnam managed to attract important trade flows into the country through its competitiveness. According to several experts, Vietnam has in fact been one of the major beneficiaries of the transformations initiated by the trade war. However, an interesting article by Asiatimes claims that Vietnam's growth won't be able to replace the "Made in China" brand, mainly because of the large Chinese population and the greater resources available to Beijing

Panasonic is shutting down a domestic appliance factory near Bangkok to consolidate production in a larger plant in Vietnam. During the trade war between Washington and Beijing, many companies had initially moved production from China to Thailand. Now they seem interested in moving to even more competitive countries like Vietnam and Indonesia.