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

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.