Vietnam needs a clear roadmap for economic reopening
Chairmen of leading foreign business associations in Vietnam, including American Chamber of Commerce in Vietnam (AmCham Vietnam), US-ASEAN Business Council, European Chamber of Commerce in Vietnam (EuroCham) and Republic of Korea Chamber of Commerce in Vietnams (KoCham), signed a petition to send to the Government to propose a strategy of “pandemic prevention and control in specific zones” in order to restore safe production and business activities in the new anti-pandemic state.
According to the business associations, the pandemic and anti-pandemic activities have caused more and more severe impacts to production activities. It is crucial for Vietnam to take action right now to maintain its regional and global competitiveness and not fall behind in the economic recovery.
Businesses need a clear roadmap for reopening right now. “Once production changes, it is very difficult to go back, especially when the production line has been expanded elsewhere,” voiced representatives of the associations.
Even existing enterprises also have most of their investment plans delayed due to current uncertainties. New potential investors cannot come Vietnam without reasonable policies for the entry of foreigners.
“To maintain competitiveness in the region and the world, including against Malaysia, Indonesia and Thailand, Vietnam must act now,” the petition stated.
Foreign-invested business associations also affirmed that vaccines are the key to safe reopening and economic recovery with priority to be given to frontline health workers, elderly, people with underlying diseases, shippers, sellers of food and essential medical products, workers in industrial zones and ports, especially in Ho Chi Minh City Minh and the southern region.
Setting up the “new normal” state from now
Enterprises with a proven record and clear plans need to be activated to reopen when eligible.
In addition to vaccination, business associations also emphasised the importance of the coordination between local governments to move towards a new normal. They said that it is significant to have coordination between policies across the country, including policy on transportation and the availability of rapid tests and policy on rapid detection of F0s to ensure safety for workers and minimise pandemic impacts.
In addition, the administrative management system needs to accept more businesses' digital documents to facilitate trade and investment during the pandemic and to enable innovation and growth of the digital economy.
According to the associations, food security is the most important issue, so vaccination should be prioritised to be given to traders at food markets and food supply chains so that they can resume business activities immediately.
They recommended the prompt opening of takeaway food stores as well as indoor and outdoor food stores that can adhere to social distancing regulations.
“Now is the time to plan the safe reopening of tourism. Vietnam will once again be a leading destination for both domestic and international tourism. We welcome the proposals for the tourism pilot model of Phu Quoc and the Ba Ria - Vung Tau green corridor and look forward to working together to reopen tourism in a safe and sustainable manner,” said representatives of the four associations.
