A COVID-19 checkpoint is set up at the entrance to Hung Vuong ward, Phuc Yen city, Vinh Phuc province (Photo: Hoang Hung/VNA)

It said Vietnam effectively dealt with the pandemic through quick and decisive Government action and public compliance with precautionary measures, like social distancing. Factories churned out medical supplies, preventing shortages of personal protective equipment and ventilators. According to the article, Vietnam’s economy has been resilient, expanding 2.91 percent in 2020, one of the world’s highest growth rates, and is projected to grow 6.5 percent in 2021.

It said that the financial buffers created before the epidemic made Vietnam more resilient to shock. COVID-19 worsened liquidity, solvency, and financial stability concerns and bank exposure. But monetary and financial policies implemented by the Government have helped to reduce corporate defaults and risks to the general public, according to the newswire.