Macro Update - Restrictions to contain COVID-19 disrupt economic activity

Rapid virus spread led to the implementation of Directive 16 in 19 southern provinces and Hanoi. As of the end of July, COVID-19 cases in Vietnam jumped to 145,686 from only 15,065 at the end of June. The rapid spread required the Government to announce the implementation of Directive 16 in 19 southern provinces, Hanoi and several other areas for two weeks. At the beginning of August, the Government extended the implementation of Directive 16 for another two weeks, which should continue to disrupt economic activity in these provinces and cities.

Vietnam received nearly 11.5 million doses of COVID-19 vaccines in July; vaccination process accelerates. 11.5 million doses of COVID-19 vaccines arrived Vietnam in July and around 2.0 million doses arrived in the first week of August, lifting the total number of doses delivered to Vietnam to around 18 million. As of August 5, 8.1 million doses of COVID-19 vaccines were given to more than 7.2 million people (equivalent to nearly 7.4% of Vietnam’s total population). Of the total, 2.0 million doses were administered in HCMC — the financial hub of Vietnam targets to have 70% of population over 18 to receive least one dose by the end of August.

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