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Vietnam’s economy set to restart

Reuters . Hanoi
04 Sep 2021 00:00:00 | Update: 04 Sep 2021 01:42:42
Vietnam’s economy set to restart

Vietnam's coronavirus epicentre Ho Chi Minh City is proposing to emerge from a strict lockdown and resume economic activities from Sept. 15, shifting from its "Zero-Covid-19" strategy to living with the virus, according to a draft proposal.

The city of 9 million people is targeting a phased reopening of its economy and the full vaccination of its citizens by the end of this year, according to the draft seen by Reuters, which has yet to be endorsed.

Ho Chi Minh City last month deployed troops to enforce its lockdown and prohibited residents from leaving their homes to slow a spiralling rate of deaths. Just 2.9 per cent of Vietnam's 98 million population has been fully vaccinated.

The draft proposes that the city, a business hub flanked by crucial industrialised provinces, moves past a containment strategy to focus on reviving the economy while maintaining stringent health protocols.

The city aims to "promote economic recovery ... and move towards living with COVID-19," the draft proposal said.

The reopening would be gradual, and low-interest loans and tax cuts would be offered to affected firms, it said.

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