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Survey of 68 Nations is Bright for Vietnam But in a Dim COVID-19 World

VOA News

   There is still growthin the Vietnamese economyandthere is
   stilloptimismconcerningthateconomy,butthe economic picturemust be
   viewed in the context of the worldwide COVID-19pandemic.

   Look at the two reports on Vietnam that came out in the first week of
   August, and one would be forgiven for a bit of whiplash. One report,
   from Nielsen, showed Vietnam is the second most optimistic out of 68
   nations surveyed. The other, from Vietnam's investment ministry, showed
   businessesclosingat a record pace. Both outcomes are based on true
   narratives, even if disparate, about the Southeast Asian nation,
   reflecting the wild swings of fortune brought on by the COVID-19
   pandemic.

   Though COVID-19is taking a toll on the economy, Vietnam climbed two
   spots in the Global Consumer Confidence Index released by Nielsen, a
   market research firm, on Aug. 5. The sanguine attitudes in the
   communist nation, even in the face of an unprecedented downturn, can be
   explained by three factors. First is that Hanoi quickly suppressed the
   disease like few states have done, reporting 964 infections and 24
   deaths for all of 2020.

   Second is that Vietnam's star looks somewhat bright because the rest of
   the universe isfairly dim. The confidence index has been measured each
   quarter since 2005, but this is the first time it has registered a
   double-digit fall in consumer confidence ratings on average around the
   world, from one quarter to the next.

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