Publication: Impacts of COVID-19 on Firms in Vietnam, Report No. 1: Results from the First Round of COVID-19 Business Pulse Survey
Loading...
Date
2020-09
ISSN
Published
2020-09
Author(s)
Editor(s)
Abstract
Vietnam reacted early to the spread of Coronavirus 2019 (COVID-19) by imposing social distancing measures and mobility restrictions, culminating in a national lockdown in April 2020. In order to understand the impact of COVID-19 on Vietnamese firms, the business plus survey (BPS) was implemented to access the various channels of impact of the pandemic on firms, their adjustment strategies, and public policy responses. The first round of the BPS was conducted in June 2020 and collected responses from 499 firms through a mix of phone and in-person interviews. The survey results indicated that the lockdown had a large temporary effect on the operational status of firms.
Link to Data Set
Citation
“Tan, Shawn; Tran, Trang. 2020. Impacts of COVID-19 on Firms in Vietnam, Report No. 1: Results from the First Round of COVID-19 Business Pulse Survey. © World Bank. http://hdl.handle.net/10986/34580 License: CC BY 3.0 IGO.”
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Impacts of COVID-19 on Firms in Vietnam, Report No. 2(World Bank, Washington, DC, 2020-11)Vietnam reacted early to the spread of COVID-19 by imposing social distancing measures and mobility restrictions. Firms are recovering on average with further reopening and lower revenue loss. Firms also reported lower incidence of reduced hours worked, reduced demand, and input disruptions. However, the extent of sales drop is still extensive (-36% relative to last year) and net employment has not recovered, staying significantly below the January level.Publication Impacts of COVID-19 on Firms in Malaysia(World Bank, Washington, DC, 2020-12)The COVID-19 Business Pulse Survey (BPS) is a rapid survey designed to measure the various channels of impact of COVID-19 on firms, firm adjustment strategies, and public policy responses. The World Bank, in collaboration with a private survey company, conducted the 1st round of the Malaysia BPS in October 2020. Firms were sampled randomly from an online business panel database, which consists of 100,000 plus companies in all sectors and sizes, across Peninsular and East Malaysia. A minimum sample size was obtained for sectors that are important to Malaysia’s economy and are sensitive to the COVID-19 crisis (export oriented activities: electronics, automotive, tourism related activities) while preserving the sectoral shares in the sampling frame. The survey was conducted online and yielded 1,500 responses from respondents in senior management positions at their company (i.e. owners, C-suite or Director level).Publication Unmasking the Impact of COVID-19 on Businesses(World Bank, Washington, DC, 2020-10)This paper provides a comprehensive assessment of the short-term impact of the COVID-19 pandemic on businesses worldwide with a focus on developing countries. The results are based on a novel data set collected by the World Bank Group and several partner institutions in 51 countries covering more than 100,000 businesses. The paper provides several stylized facts. First, the COVID-19 shock has been severe and widespread across firms, with persistent negative impact on sales. Second, the employment adjustment has operated mostly along the intensive margin (that is leave of absence and reduction in hours), with a small share of firms laying off workers. Third, smaller firms are disproportionately facing greater financial constraints. Fourth, firms are increasingly relying on digital solutions as a response to the shock. Fifth, there is great uncertainty about the future, especially among firms that have experienced a larger drop in sales, which is associated with job losses. These findings provide a better understanding of the magnitude and distribution of the shock, the main channels affecting businesses, and how firms are adjusting. The paper concludes by discussing some avenues for future research.Publication Productivity in the Time of COVID-19(World Bank, Washington, DC, 2021-04-26)Firms in the East Asia and Pacific (EAP) region have been hit hard by the COVID-19 (coronavirus) pandemic, with dramatic and widespread falls in sales and employment. Firm sales in some EAP countries were 38 to 58 percent lower in April or May 2020, compared to the same month in the previous year. Small and medium-sized enterprises (SMEs) have been particularly affected. The pandemic will have a lasting impact on productivity growth as firm indebtedness and increased uncertainty inhibit investment, and firm closures and unemployment lead to a loss of valuable intangible assets. Support for firms is needed but must be based as far as possible on objective criteria, related not only to past performance or current pain but to the potential for firms, including new firms, to thrive in the future. To avoid unduly prolonging assistance, governments should build exit strategies into the design of support measures and commit to phasing support out by linking it to observable macroeconomic indicators of recovery.Publication Impacts of COVID-19 on Firms in Malaysia(World Bank, Washington, DC, 2021-07)The COVID-19 Business Pulse Survey (BPS) is a rapid survey designed to measure the various channels of impact of COVID-19 on firms, firm adjustment strategies, and public policy responses. The World Bank, in collaboration with a private survey company, conducted the 3rd round of survey in July 2021, following the 1st round in October 2020 and 2nd round of the Malaysia BPS in Mid-January to February 2021. Firms were sampled randomly from an online business panel database, which consists of 100,000+ companies in all sectors and sizes, across Peninsular and East Malaysia. A minimum sample size was obtained for sectors that are important to Malaysia’s economy and are sensitive to the COVID-19 crisis (export-oriented activities: electronics, automotive, tourism related activities) while preserving the sectoral shares in the sampling frame. The survey was conducted online and yielded 1,500 responses from respondents in senior management positions at their company (i.e. owners, C-suite or Director level).
Users also downloaded
Showing related downloaded files
Publication The Journey Ahead(Washington, DC: World Bank, 2024-10-31)The Journey Ahead: Supporting Successful Migration in Europe and Central Asia provides an in-depth analysis of international migration in Europe and Central Asia (ECA) and the implications for policy making. By identifying challenges and opportunities associated with migration in the region, it aims to inform a more nuanced, evidencebased debate on the costs and benefits of cross-border mobility. Using data-driven insights and new analysis, the report shows that migration has been an engine of prosperity and has helped address some of ECA’s demographic and socioeconomic disparities. Yet, migration’s full economic potential remains untapped. The report identifies multiple barriers keeping migration from achieving its full potential. Crucially, it argues that policies in both origin and destination countries can help maximize the development impacts of migration and effectively manage the economic, social, and political costs. Drawing from a wide range of literature, country experiences, and novel analysis, The Journey Ahead presents actionable policy options to enhance the benefits of migration for destination and origin countries and migrants themselves. Some measures can be taken unilaterally by countries, whereas others require close bilateral or regional coordination. The recommendations are tailored to different types of migration— forced displacement as well as high-skilled and low-skilled economic migration—and from the perspectives of both sending and receiving countries. This report serves as a comprehensive resource for governments, development partners, and other stakeholders throughout Europe and Central Asia, where the richness and diversity of migration experiences provide valuable insights for policy makers in other regions of the world.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.Publication Lebanon Economic Monitor, Fall 2022(Washington, DC, 2022-11)The economy continues to contract, albeit at a somewhat slower pace. Public finances improved in 2021, but only because spending collapsed faster than revenue generation. Testament to the continued atrophy of Lebanon’s economy, the Lebanese Pound continues to depreciate sharply. The sharp deterioration in the currency continues to drive surging inflation, in triple digits since July 2020, impacting the poor and vulnerable the most. An unprecedented institutional vacuum will likely further delay any agreement on crisis resolution and much needed reforms; this includes prior actions as part of the April 2022 International Monetary Fund (IMF) staff-level agreement (SLA). Divergent views among key stakeholders on how to distribute the financial losses remains the main bottleneck for reaching an agreement on a comprehensive reform agenda. Lebanon needs to urgently adopt a domestic, equitable, and comprehensive solution that is predicated on: (i) addressing upfront the balance sheet impairments, (ii) restoring liquidity, and (iii) adhering to sound global practices of bail-in solutions based on a hierarchy of creditors (starting with banks’ shareholders) that protects small depositors.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.