Vietnam's GDP growth in the second quarter is forecasted at about 2.0 % over the same period and even a recession if a bad scenario occurs. Expected to recover from Q3 2020. Exports fell from about 25% in Q2 and recovered to a decline of 15% in the following quarters of 2020. If the pandemic lasts for a long time, the impact on the economy will be very serious. If by the end of April, 49.2% of enterprises can still operate; 31.9% cut production scale; 18.1% suspend operations; and 0.8% likely to go bankrupt. If by the end of June, September or the end of the year, the bankruptcy rate will be 6.1%, 19.3% and 39.3%. There should be a reasonable choice of policies as well as support objects. The impact of the epidemic on economic sectors varies greatly. Some industries are heavily affected, businesses are likely to go bankrupt (aviation, tourism, commerce, services). Some industries still have good growth opportunities. It is necessary to develop many different economic policy scenarios from short to long term to respond to the epidemic situation in both Vietnam and other countries around the world. Vietnam's very high level of connectivity with global value chains and the social distancing measures adopted by other countries, leading to the fact that the pandemic can be controlled in Vietnam, cannot make the economy recover. immediately if it continues in other countries. If the domestic epidemic can be controlled in April or at most by the end of the second quarter, the policy response should be "supportive". If the epidemic lasts longer, the government needs to consider stronger interventions with a "rescue" nature. The proposed policy solutions need to take into account the delay in the promulgation and implementation process to ensure timeliness and effectiveness.