Amid a slowdown in private investments and consumption, expert suggested public spending is essential to spur economic growth and ensure decent living standards for the people.

The mechanism is based on sharing of experience and best practices, extending mutual technical support in the prevention, containment and control of transmission.

A majority of people in 10 of the 15 countries polled by Ipsos disagree that the economy will recover quickly once the Covid-19 pandemic lockdown is lifted, suggesting a lasting impact.

As Vietnam is among a handful of countries that are effectively containing the pandemic, it has a golden chance to step out of the economic deceleration much sooner than other economies.

Hanoi is determined to ensure quick containment of the pandemic so that the economy could start the recovery process as soon as possible, said Hanoi's Party chief Vuong Dinh Hue.