ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Academic Writing

Submission date Date received (1st submission)

Re-submission date Date received (2nd submission)

Student name To Thi Khanh Hoa Student ID BH012551255

Class AE112.02 Assessor name Hoang Van Dung

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I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that
making a false declaration is a form of malpractice.

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Contents

1. Introduction.................................................................................................................................... 4

1.1. General introduction.........................................................................................................4

2. Assess the impact of covid 19 on Vietnam’s economy...................................................................4

2.1. The introduction of Covid-19.......... ..................................................................................4

2.2. The status of the Vietnam's economy from 2015-2019................................................... 5

2.3. In-text citation.................................................................................................................. 6

2.3.1. Covid pandemic affects exports.................................................................................7

2.3.2. Impact on the tourism industry.................................................................................7

2.3.3. Impact on the airline industry.....................................................................................7

2.4. Suggestion .........................................................................................................................8

3. Conclusion......................................................................................................................................10

4. Reference…………………………...………...………………………………………………………………………………...………11

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1. Introduction:
1.1. General introduction:

Vietnam's economy has achieved many important and comprehensive achievements in

almost all fields, creating many outstanding marks in the period 2017-2019. However, when the
Covid-19 epidemic appeared, it negatively affected the Vietnamese economy. The whole country
implemented social distancing under Directive No. 16 for a long time, causing a decline in the value
of exports and imports of goods and services, accompanied by a decrease in income, reduced
consumption and export and import activities stalled.

In order to limit the impact of this pandemic and contribute to the recovery and
development of the economy, I chose the topic "Assess the impact of the Covid-19 pandemic on
the Vietnam economy". To study the impact of the covid pandemic on aspects of the Vietnamese
economy, thereby providing solutions and recommendations for businesses and the government
to recover and develop the economy.

2. Assess the impact of covid 19 on Vietnam’s economy:

2.1. The introduction of Covid-19:
On March 11, the World Health Organization officially declared the outbreak of acute
respiratory infection (COVID-19) caused by a new strain of Corona virus (SARS-CoV-2) a global
pandemic bridge. Covid-19 is a new respiratory virus that causes acute respiratory infections in
humans and can be spread from person to person. This virus was identified during an outbreak
investigation that originated in a large seafood and animal market in Wuhan, Hubei province, China
( bao dien tu chinh phu, 2020).

2.2. The status of the Vietnam’s economy from 2015-2019:

According to the General Statistics Office, the gross domestic product (GDP) in 2015 is
estimated to increase by 6.68% compared to 2014, 0.48% higher than the target set by the
National Assembly of 6.2%. The industry and construction sector increased the most at 9.64%, the
industry increased by 9.39%, the construction sector increased by 10.82%, which is the highest
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increase since 2010. The service sector increased by 6. .33%, contributing 2.43 percentage points
to GDP growth. In this year's overall growth, the agriculture, forestry and fishery sector increased
by 2.41%, lower than the growth rate of 3.44% in 2014 (Ha Noi moi, 2015).
Gross domestic product (GDP) in 2016 is estimated to increase by 6.21% compared to 2015.
In which, in the first quarter, it increased by 5.48%; the second quarter increased by 5.78%; the
third quarter increased by 6.56%; Q4 increased by 6.68%. This year's growth rate is lower than
2015's 6.68% growth rate and not reaching the set growth target of 6.7%. In the same year, the
total investment capital of the whole society was estimated at 1,485.1 trillion VND, an increase of
8.7% compared to 2015 and equal to 33% of GDP (tap chi dien tu VnEconomy).
In the first three quarters of 2017, GDP growth reached 6.4% compared with 6.0% in the
same period a year ago. Average inflation tended to increase in the first 10 months of 2017 but
remained at a low level of 3.7%. Credit growth in the first 6 months of 2017 is estimated to
increase by 19.6% over the same period last year, bringing agriculture back on track to reach the
18-20% growth target set by the Government for the whole year. Since the increase in budget
revenue is higher than expected, the target is to reduce the budget deficit to 3.5% of GDP.
According to the data announced by the General Statistics Office, GDP in 2018 grew by 7.08%,
the highest in the past 10 years; foreign investment disbursement is more than 19 billion USD, the
highest ever; 132,000 newly established enterprises; The whole country welcomed nearly 15.6
million international visitors... This is the third consecutive year that inflation has been controlled
below 4%. Vietnam's export turnover of goods for the whole year of 2018 is estimated at about
244.72 billion USD, up 13.8% compared to 2017. State budget revenue is estimated at over 1.35
million billion dong, up about 3% compared to the estimate and increased by 5.5% compared to
2017 (Dang Cong San Viet Nam, 2019).
In 2019, Vietnam achieved 7.02% GDP growth in the context of the world economy facing
many difficulties, strategic competition in the region and in the world increasing. Import turnover
in 2019 is estimated at 253.5 billion USD, up 7%. The trade surplus in 2019 reached about $9.94
billion, the highest ever. Data from the General Statistics Office shows that in 2019, the whole
country had 138.1 thousand newly registered enterprises with a total registered capital of VND
1,730.2 trillion and a total registered labor force of VND 1,730. 1,254.4 thousand employees, an

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increase of 5.2% in the number of enterprises, an increase of 17.1% in the registered capital and an
increase of 13.3% in the number of employees over the previous year (Minh Ngoc, 2020).

2.3. The impact of Covid-19 on Vietnam’s economy:

2.3.1. Covid pandemic affects exports:
Data from the General Department of Customs shows that Vietnam's exports to the world in
2020 will reach 282.65 billion USD, 7.0% higher than export turnover in 2019. Vietnam's exports in
the quarter I/2021 was 23.7% higher than the same period in 2020. After that, when the number of
cases and deaths from COVID-19 increased rapidly, Vietnam's exports fluctuated sharply. Vietnam's
exports in 2020 focused on phones and components ($51.18 billion), computers and electronic
products ($44.58 billion), and textiles (29.81 billion USD) and machinery and equipment products
(27.19 billion USD). According to Vietnam's Ministry of Industry and Trade (2021), rice exports in
2020 will reach 6.25 million tons with a value of US$3.12 billion, down 1.9% in volume but up
11.2% in value over the previous year. 2019, with the average price of the whole year reaching
about 499 USD/ton, an increase of 13.3%, equivalent to an increase of 59 USD/ton compared to
2019 (Nguyen Quyet, 2021).

2.3.2. Impact on the tourism industry:

Vietnam has not opened to international tourism since March 2020. The number of
international visitors to Vietnam in 2020 decreased by 78.7% compared to the previous year, of
which more than 96% were international visitors in the first quarter of 2020. Domestic tourists in
2020 decreased by 34.1% (reaching 56 million arrivals), total revenue reached VND 312,000 billion,
down about 58.7% over the same period in 2019. In the first 6 months of 2021, reaching 30.5
million turns, total revenue was estimated at 134,000 billion VND, down 24.2% over the same
period last year. Some localities implemented social distancing, so domestic tourism dropped
sharply such as Hanoi down 44.3%, Ho Chi Minh City down 53.6%, Quang Ninh down 36.6%...(Dang
cong san Viet Nam,2021).

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 2.3.3. Impact on the airline industry:
According to the report of the International Civil Aviation Organization (ICAO) on the
situation of aviation activities in 2020, the number of international and domestic passengers
decreased by 1.38 and 1.32 billion respectively, down 74%. and 50% compared to 2019. Total
industry revenue decreased by 500 billion USD. The audited financial statements for 2020 of
published airlines such as Vietnam Airlines and Vietjet Air all showed a sharp decrease in revenue
and profit. Specifically, Vietnam Airlines has a pre-tax loss of VND 8,743 billion. In which, passenger
transport efficiency (excluding revenue from non-passenger transportation) lost 10,975 billion VND,
10,989 billion VND higher than the same period last year. Average revenue of a domestic
passenger is 997 thousand VND/pax, down 34.5% compared to 2019. Vietjet Air has a pre-tax loss
of 1,780 billion VND, in which passenger transport efficiency (excluding expenses) revenue other
than effective passenger transport) loss of 4,311 billion dong, up 3,896 billion dong over the same
period. The average revenue of a domestic passenger is 450,000 VND/pax, down 34% over the
same period (Vien chien luoc va chinh sach tai chinh, 2021).

2.4.Suggestion:
To remove difficulties, promote production and business development and economic
recovery, the Politburo, the National Assembly, the National Assembly Standing Committee, the
Government, the Prime Minister, ministries and branches have issued many guidelines, policies
and solutions with a total of measures to promptly respond to the epidemic, such as: Reducing
interest rates; debt restructuring; reduction, extension of tax payment, social insurance;
exemption or reduction of fees for some public services; reduced, extended payment of land
rent, ... and especially launched an unprecedented 62 trillion dong welfare package.
Firstly, improve the efficiency of the inspection and review of legal documents to detect
conflicting, overlapping and inadequate contents that are no longer consistent with reality, thereby
expeditiously handling them according to their competence or propose competent agencies to
handle according to the provisions of law, meet the requirements of clearing bottlenecks, support
and promote investment, production and business activities.
Second, in the context of the current Covid-19 pandemic, creating a healthy business
environment is important to ensure economic recovery and restore investor confidence.

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 Third, it is necessary to regularly review budget revenues, especially tax, fee, mineral
extraction, current and land use levy for unpaid projects.
Fourth, synchronously implementing measures to speed up the disbursement of public
investment capital is the most important measure to promote economic growth, especially key
projects and new construction projects.
Fifth, it is necessary to review and have appropriate support policies for people in difficult
circumstances due to the impact of the epidemic, especially to strengthen direct support for
vulnerable groups such as informal workers and the unemployed. Karma; Support housing rental
costs for employees working in enterprises in economic zones, industrial parks, and export
processing zones.
Sixth, support the recovery of production and business activities of enterprises (especially
small and micro enterprises), cooperatives, and business households by continuing to implement
tax exemption, tax reduction and family tax policies. tax deadlines, fees, charges, debt
restructuring policies; Manage appropriate credit growth, continue to restructure debt, keep the
debt group unchanged.

3. Conclusion:
This article is about how the corona virus has affected the lives of Vietnamese people. The
article is about what happened before the virus, what happened after the virus and what
governments and different types of jobs did to deal with it.

4. References:
Person (2021) Who Tuyên BỐ covid-19 LÀ đại dịch toàn cầu, baochinhphu.vn. Available at:
https://baochinhphu.vn/who-tuyen-bo-covid-19-la-dai-dich-toan-cau-102269461.htm (Accessed: 30 May
2023).

10 SỰ Kiện Kinh TẾ Việt Nam đáng Chú ý Năm 2015 (no date) hanoimoi.com.vn. Available at:
https://hanoimoi.com.vn/tin-tuc/Kinh-te/820087/10-su-kien-kinh-te-viet-nam-dang-chu-y-nam-2015
(Accessed: 31 May 2023).

Tbktvn (2016) 10 Su Kien Kinh Te - xa hoi noi bat nam 2016, Nhịp sống kinh tế Việt Nam & Thế giới.
Available at: https://vneconomy.vn/10-su-kien-kinh-te-xa-hoi-noi-bat-nam-2016.htm (Accessed: 31 May
2023).

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10 Su kien kinh te noi bat 2018 (no date) https://dangcongsan.vn. Available at:
https://dangcongsan.vn/kinh-te/10-su-kien-kinh-te-noi-bat-nam-2018-509282.html (Accessed: 31 May
2023).

Giải Pháp nào để du Lịch Việt Nam vượt Khó Trong đại Dịch? (2021) https://dangcongsan.vn. Available at:
https://dangcongsan.vn/phong-chong-dich-covid-19/giai-phap-nao-de-du-lich-viet-nam-vuot-kho-trong-dai-
dich-590353.html (Accessed: 31 May 2023).

Tầm nhìn dài Hạn Phục Hồi Ngành Hàng Không 09/06/2021 08:15:00 4757 (2021) Chi tiết tin. Available at:
https://mof.gov.vn/webcenter/portal/vclvcstc/pages_r/l/chi-tiet-tin?dDocName=MOFUCM201502
(Accessed: 31 May 2023).

Những Thành Tựu Kinh TẾ Nổi Bật Trong Năm 2019 (2020) Những thành tựu kinh tế nổi bật trong năm 2019
- Báo điện tử VnMedia - Tin nóng Việt Nam và thế giới. Available at: https://vnmedia.vn/kinh-
te/202001/nhung-thanh-tuu-kinh-te-noi-bat-trong-nam-2019-cb102bd/ (Accessed: 01 June 2023).

Giải Pháp giúp Phục Hồi Kinh tế Việt Nam Sau đại Dịch Covid-19 07/03/2022 13:15:00 26577 (no date)
Chi tiết tin. Available at: https://mof.gov.vn/webcenter/portal/vclvcstc/pages_r/l/chi-tiet-
tin?dDocName=MOFUCM225403 (Accessed: 01 June 2023).

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