This article is no longer valid as of March 2022, since COVID restrictions have generally been lifted and lockdowns have become only a problem of the past.
Ho Chi Minh City plans to restart economic activities from September 30 after a two-month-long extensive lockdown, transitioning from ‘Zero COVID-19′ policy to ‘living with the virus’ policy. By the end of this year, this city of nine million people is expected to reopen entirely and the people to be fully vaccinated. This relaxation in the lockdown restrictions and travel ease are highly favorable for foreign investors to enter the country and make the best of its untapped market potential.
Investing in Vietnam? Check out Cekindo’s Company Incorporation Services
This article will discuss the updates on the ease of lockdown restrictions in Ho Chi Minh City from September 2021.
Current updates on Covid-19 in Ho Chi Minh City
There have been 241,110 coronavirus infections and 9,974 deaths in Ho Chi Minh City, accounting for half of the country’s cases and 80% of the deaths. Only 3% of Vietnam’s 98 million people have received both doses of their vaccination.
The great majority of these cases have occurred in recent months, putting an end to expectations that Vietnam might repeat its success from 2020 when rigorous contact tracing and quarantining led to one of the finest COVID-19 containment records in the world.
To stem the rising number of deaths, Ho Chi Minh City sent the military last month to help enforce restrictions and assist in delivering food.
However, now that the authorities have realized that coronavirus is here to stay, the Vietnamese government has released plans to ease business restrictions in Ho Chi Minh City post-September 30 in its bid to shift to a ‘living with the virus’ policy.
Ease of Restrictions in Ho Chi Minh City: 2021 Updates
According to the official draft, Ho Chi Minh City, Vietnam’s largest city and corporate hub bordered by industrialized provinces, intends to boost economic recovery and progress toward the new “living with COVID” status. Moreover, the reopening would be gradual, and impacted businesses would be provided low-interest loans and tax breaks.
Restriction on Eateries
Lockdown restrictions no longer apply to any restaurant in Ho Chi Minh City.
Starting March 2022, the government has officially lifted quarantine requirements on incoming visitors to Vietnam. In order to enter the country, visitors only need to have a valid vaccination certificate, as well as a visa (travel, business, investor or otherwise).
Integration with global manufacturing has kept Vietnam’s economy stable during the pandemic. Moreover, the country’s GDP increased by 2.9% in 2020, despite the fact that most nations were in recession. As per World Bank’s latest projections, 2021’s growth might be even quicker – by 4.8%.
How Can Cekindo Help?
With the ease of lockdown restrictions, doing business or making investments in Ho Chi Minh City has gotten relatively easier in the midst of the pandemic. Having market entry professionals, like Cekindo, by your side, can save you a great deal of time as well as provide you a hassle-free experience. Cekindo provides a wide spectrum of ancillary services related to company registration, like legal consultancy, license and other documents acquisition, tax and accounting, and HR services. Due to the global pandemic our services are now run entirely online and your business needs can be executed from wherever you are in the world.