dc.contributor.author	World Bank
dc.date.accessioned	2021-01-04T20:09:56Z
dc.date.available	2021-01-04T20:09:56Z
dc.date.issued	2020-12-14
dc.description.abstract	In these early days of December 2020, most Vietnamese must wear a face mask. The cause is not only the fear of COVID-19 (coronavirus), but also of polluted air which, in the country’s major cities, is four times more polluted than the safety level recommended by international agencies. Regrettably, even if the government has done a superb job containing the biggest and most recent pandemic, Vietnam is vulnerable to many health and environmental disasters. Beyond air pollution, which is killing an estimated 60,000 people every year, the country is exposed to coastal erosion, drought, and saline intrusion and landslide. The recent series of tropical storms in the central region, with over 240 casualties and a quarter million damaged or destroyed homes, has been another painful reminder of this fragility. This edition of the Taking Stock, after describing the recent trends in the Vietnamese economy, asks why Vietnam has not been as effective in dealing with environmental and climate challenges as with the COVID-19 crisis, which are arguably different but have also many similarities. The successful experience in implementing the right measures at the right time during the COVID-19 crisis deserves more attention as it can inspire policymakers in their commitment to address the environmental and climate challenges. First, the successful management of the pandemic has demonstrated (again) that it is better to be ready and to act early and boldly. Second, beyond vision and capacity, the ability to inspire experimentation and innovation is an effective way to change individual and collective behaviors, which is fundamental in the effort to cope with health and climate threats. By all standards, Vietnam has managed the COVID 19 crisis very well. The number of infections and deaths has been minimal, with few community infections since mid-September. Despite strict social distancing measures and an unprecedented global recession, Vietnam’s economy is expected to grow at 2.8 percent in 2020. Although this performance is about 4.2 percentage points lower than the country’s recent performance, Vietnam will remain in positive growth territory, while the world economy is expected to contract by at least 4 percent. In East Asia, only two other countries—China and Myanmar—are expected to report positive GDP growth this year. Vietnam’s economic resilience is explained by the behavior of both its domestic economy and its externalsector. After three weeks of national lockdown in April, most industrial and service activities rebounded as domestic consumers and investors regained confidence. Not only has the private sector reacted positively to the gradual easing of social distancing and mobility measures, but the government has changed the course of its fiscal policy to support the recovery. After three years of fiscal consolidation, the authorities acted decisively and accelerated the disbursement of the public investment program, which increased by about 40 percent between January and September compared to the same period a year ago. Concurrently, like most central banks, the accommodative monetary policy and temporary financial relief measures of the State Bank of Vietnam provides breathing space to affected businesses and people.	en
dc.identifier	http://documents.worldbank.org/curated/en/521421607981204344/Taking-Stock-From-COVID-19-to-Climate-Change-How-Vietnam-Can-Become-the-Champion-of-Green-Recovery
dc.identifier.doi	10.1596/34961
dc.identifier.uri	https://hdl.handle.net/10986/34961
dc.language	English
dc.publisher	World Bank, Hanoi
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC RESILIENCE
dc.subject	ECONOMIC PROSPECTS
dc.subject	COVID-19
dc.subject	CORONAVIRUS
dc.subject	PANDEMIC IMPACT
dc.subject	EXTERNAL SECTOR
dc.subject	MONETARY POLICY
dc.subject	FISCAL TRENDS
dc.subject	FISCAL POLICY
dc.subject	RECOVERY
dc.subject	ECONOMIC OUTLOOK
dc.subject	RISKS
dc.subject	ENVIRONMENTAL CHALLENGE
dc.subject	CLIMATE CHANGE
dc.subject	GREEN GROWTH
dc.title	Taking Stock, December 2020	en
dc.title.subtitle	From COVID-19 to Climate Change - How Vietnam Can Become the Champion of Green Recovery	en
dc.type	Report	en
dc.type	Rapport	fr
dc.type	Informe	es
dspace.entity.type	Publication
okr.crossref.title	Taking Stock, December 2020
okr.date.disclosure	2020-12-20
okr.date.doiregistration	2025-05-07T12:02:13.208806Z
okr.doctype	Economic & Sector Work::Economic Updates and Modeling
okr.doctype	Economic & Sector Work
okr.docurl	http://documents.worldbank.org/curated/en/521421607981204344/Taking-Stock-From-COVID-19-to-Climate-Change-How-Vietnam-Can-Become-the-Champion-of-Green-Recovery
okr.guid	436501607981697037
okr.guid	521421607981204344
okr.identifier.externaldocumentum	090224b0880d0829_1_0
okr.identifier.internaldocumentum	32668557
okr.identifier.report	155045
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	http://documents.worldbank.org/curated/en/521421607981204344/pdf/Taking-Stock-From-COVID-19-to-Climate-Change-How-Vietnam-Can-Become-the-Champion-of-Green-Recovery.pdf	en
okr.region.administrative	East Asia and Pacific
okr.region.country	Viet Nam
okr.topic	Environment::Climate Change and Environment
okr.topic	Health, Nutrition and Population::Disease Control & Prevention
okr.topic	Macroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topic	Macroeconomics and Economic Growth::Economic Growth
okr.topic	Macroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.unit	World Bank Office: Hanoi (EACVF)

Publication: Taking Stock, December 2020: From COVID-19 to Climate Change - How Vietnam Can Become the Champion of Green Recovery

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Taking Stock, December 2020: From COVID-19 to Climate Change - How Vietnam Can Become the Champion of Green Recovery