Priorities would be to avoid any disruption to the economy and a negative growth scenario as Vietnam’s major economic partners face severe impacts from the pandemic.

HSBC has raised its 2020 growth forecast for Vietnam to 3.0% from 1.6% previously, reflecting its renewed assumptions of Vietnam’s speedier economic rebound.

To build economic recovery and install supply chain resilience, HSBC advocates three reform planks: trade and investment flows; digital connectivity; and linking nation development projects to globally agreed sustainable development goals.

EVFTA provides a means of market diversification for EU and Vietnamese businesses.

While not a huge economy, Vietnam’s rapid recovery offers valuable insights for a world struggling with how to engineer an urgently-needed growth revival.

People’s mobility, on average, is almost back to normal in Vietnam.

Emerging economies are chasing companies to get more FDI, but companies are chasing Vietnam to move there, said HSBC.

With fewer concerns about currency and external stability, Vietnam’s central bank is likely to be more comfortable with delivering interest rate cuts to support growth.

In 2020, the country’s domestic demand is set to benefit from generally supportive financial conditions amid low inflation and robust capital flows.