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When the job prospects remain dim in the export dependent economy, comsumers opt not to take revenge shopping even when they are freed from the lockdown.

One Month after the Lock Down Order Removed, Some Businesses May Never Recover
It has been a month since the Vietnam removed the lockdown order, lives in big cities and town throughout Vietnam have gradually gone back to normal. 
In the big cities, restaurants, retailers and all other kinds of businesses are allowed to open, except for karaokes and pubs. However, when the job prospects remain dim in the export dependent economy, comsumers opt not to take revenge shopping even when they are freed from the lockdown.
According to the information shared by some big supermarkets, the retail sales has gone up but not too strong and mostly customers choose to buy the essential items. In the luxury segment, the sales is still endlessly going down. 
In the tourism sector, there have been some better signs as many people travel domestically after the Covid-19 pandemic. Some hotels in Da Nang, Nha Trang reported the hotel occupancy rate of more than 60% and even almost 90% during some high season weekends. 
But at the same time, there is the very struggling part of the economy. If someone strolls along the business streets in Hanoi and Ho Chi Minh city, it it easy to see that many stores are still closed. After several months of poor business performance, many business owners could not find ways to survive and thus have to close permanently.
In some foreigner and tourist oriented services, the businesses stay silent. When Vietnam still closes the country with almost all the countries and territories, it is easy to understand why those kinds of businesses can not run. Currently, some stores try to make ends meet thanks to the working foreigners in Vietnam. If this situation can not get better soon, some business like this may lose all motivations to keep running and have to close for good.
In the latest interview with Bloomberg Vietnam, Vietnam Prime Minister Nguyen Xuan Phuc said the export-dependent economy could sustain growth of 4-5% this year as the government looks to attract more foreign investment from businesses seeking to readjust their supply chains.
The 4-5% GDP growth in the Prime Minister’s expectation seems to be very optimistic when compared to the expectations of growth from other institutions and banks.
A few days ago, Maybank Kim Eng released the report, in which Maybank Kim Eng economist predicted that Vietnam can enjoy 3.6% GDP growth this year. 

DIEP NGUYEN