Illustrative image (Photo: VNA) Hanoi (VNA) - Vietnam has been successful in controlling COVID-19 in 2020 andis likely to keep the situation contained next year, said Joseph Incalcaterra, chief economist for ASEAN at the HSBC Global Research, on an articlerecently published on www.dailymirror.uk.
Incalcaterra said Vietnam together withSingapore are two Southeast Asian countries that will be able to keep thepandemic under control and smoothly roll out vaccines.
He praised Vietnam’s handling of thevirus, and said its response to the pandemic allowed the country to maintainits reputation as a “very good destination” for foreign direct investment (FDI).The country has been seen as an alternative manufacturing hub for companies,given that FDI this year remains very resilient into Vietnam.
Overall, however, Southeast Asia may notbenefit from a vaccine in the near future, given the logistical difficulties inrural parts of the region.
“We really don’t have great visibilityon the short-term recovery, given how deep the damage is,” he added.
According to him, until the virus is under control, it is hard to see thisinvestment engine regain its momentum. Meanwhile, ambitious infrastructureprogrammes pursued by countries to make the region a “reliable manufacturingproduction base” have been installed, which he said, is the biggest short-termhindrance to growth in Southeast Asia./.
