“Vietnam is suffering some pain from the impact of Covid-19, but the outlook is looking one of the brightest in the region,” said Edward Teather, Asean economist at UBS Research.

"Retail sales, imports and industrial production were all actually up on the year in the month of June, which is better than you can say for most economies in the region,” he told CNBC’s on Monday.

Many economies contracted in the second quarter of 2020 compared to a year ago, but Vietnam’s gross domestic product grew slightly at an estimated 0.36%. 

Japan Nikkei BP hailed Vietnam’s success in the fight against Covid-19 as there have been 369 positive cases and no fatality. It attributed the success to technological application and data usage as well as prudent epidemic control policy.

German Business Insider e-magazine in its recent analysis believed Vietnam’s rapid economic recovery was possible thanks to its early response to Covid-19.