This paper investigates the impact of regional economic cooperation between Vietnam and its partners during the 2000-2015 period, focusing on the Greater Mekong Sub-region (GMS). Overall, the GMS represents a significant portion of Vietnam's trade portfolio. China is the dominant trading partner in the GMS, exhibiting strong influence over Vietnam's trade, especially its imports. However, using the gravity model of trade, we find that Vietnam has not benefited from GMS cooperation, as exemplified by its significant trade deficit, particularly with China. We further find that human capital enhancement and financial development are key factors to facilitate Vietnam's trade, and mitigate its trade deficit with other GMS member countries. To this end, this study provides some important policy implications for the Vietnamese government as well as policymakers in other countries, when trading with larger partners in the context of regional economic cooperation.

The COVID-19 pandemic has already produced considerable changes in all aspects of an economy. Being an economy with a high degree of trade openness, Vietnam has maintained extensive trade relations with many partners. In the context of a global pandemic, Vietnams economy has been severely affected. Therefore, this article focuses on analyzing the impact of the COVID-19 outbreak on the aspects such as gross domestic product (GDP) growth, foreign trade, tourism, unemployment rate, and enterprises operation, and raising some prospects of Vietnams economy.