Friday, July 24, 2020

Can Vietnam leverage its COVID-19 success for economic growth?

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Inshiya Nalawala

Article Title

Can Vietnam leverage its COVID-19 success for economic growth?

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Global Views 360

Publication Date

July 24, 2020

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A policeman helping a rider fix their mask

A policeman helping a rider fix their mask | Source: Đài Truyền Thanh TPST via Wikimedia

While the entire world is battling with COVID-19, Vietnam, in a country of over 100 million recorded just 330 cases as of early June 2020 and zero death in May 2020.

A professor at Nagasaki University’s Institute of Tropical Medicine Vietnam Research Station said that "Vietnam has no special test kits or drugs to treat the disease, but the government decided to do what it had to do at an early stage and put that plan straight into practice."

Vietnam was quick in its action. As soon as the first case was confirmed, the government had called upon measures for serious quarantine, implemented strict border control measures, and curbed unnecessary local movement. Close to a million people were isolated to halt the spread of further infections.

The strict measures helped Vietnam to quickly control the COVID situation and put the focus back on the economy. The mainstay of Vietnam's economy, garment export and tourism witnessed steep fall resulting in loss of employment to over 3.5 million people in the first half of 2020. Still Vietnam’s economy has expanded by 0.36% over last year in the same period unlike other countries in the region where it contracted as compared to last year. The annual GDP growth for Vietnam in 2020 is expected to be around 2.7% to 3% which again is the best in the region.

Vietnam , today is the safest country in the region to travel, work, or stay amidst the worldwide COVID pandemic. It is being favourably considered as an alternative destination by many companies who are looking to cut down their reliance on China in their supply chain.  The Free Trade Agreement (FTA) between the European Union and Vietnam which will be operational in August, may help Vietnam grow its exports.

Apart from export led growth, the tourism sector may also grow significantly as the other major tourist destinations in the region, Singapore and Thailand, are still battling with the pandemic, while Vietnam has successfully overcome the same.

The government is also looking to support the local business by slashing the corporate income tax to 30 percent which increased the liquidity for some sectors of economy. Special tax benefits and deferred tax payments(in some cases) are also in  line for small and medium enterprises (SMEs) which constitutes almost 97% of all the businesses in Vietnam. All these measures are expected to lead to a 7% GDP growth for Vietnam in 2021.

The miraculous recovery from the pandemic, government incentives to industry, and the willingness of many companies to relocate from China present such a perfect mix of opportunities for Vietnam to leap ahead and become the fastest-growing economies in SouthAsia. What remains is to see how fast and how effectively the country is able to act while this window of opportunity is open.

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February 4, 2021 5:06 PM

How can Science Communication save the day

Pierre-Simon Laplace, an exemplary French Mathematician, once quoted: “It is India that gave us the ingenious method of expressing all numbers by means of ten symbols, each symbol receiving a value of position as well as an absolute value; a profound and important idea which appears so simple to us now that we ignore its true merit.

I intentionally aimed to start this article with a quote by an excellent western mathematician, because we Indians need validation from westerners. We are quite capable of making high strides in science, technology, and innovation, but there is a lack of vision; lack of confidence.

ISRO Launching a satellite: Source: ISRO

The newly Independent India of 1947 had a vision: a vision to transform into a developed country using scientific interventions. We had some great revolutionaries who worked tirelessly to shape a bright future for our country. Dr. Vikaram Sarabhai founded the Indian Space Research Organization (ISRO) while Dr. Homi J Bhabha, the Department of Atomic Energy (DAE). There was a time when Dr Sarabhai convinced a Church to give land for a rocket launch station.

When India became Independent in 1947, people just wanted to earn enough to survive in the rapidly changing, bitter conditions. Today, when we are one of the economies of the world, we are fighting over temples and mosques, trying to rename cities, and dream of resurrecting some thousands of years old notion of India, the quest for scientific temperament is lost somewhere along the way.

Over the years, India’s spending on Research and Development has increased significantly in overall value but its share in GDP has remained stagnant at 0.6-0.9%. The research being done in India is quite good if we compare it to the funding received. However if we compare it with the developed countries, the gap is phenomenal.

India’s space program, atomic energy program, development of supercomputers, or development of light combat aircraft- Tejas shows that Indian scientists have given great results at a fraction of the costs of their western counterparts. Still the allocation of funds for the scientific research is well short of what is required to catapult India into the league of developed nations.

If we deep dive into the probable causes of underfunding of Indian scientific research in spite of giving good return on investment, it boils down to the lack of awareness about the same among the larger public as well as policymakers. As we know that the best way to receive funding is to create awareness about a valuable product. We don’t lack products; we lack dialogue. Science is hardly ever reported in India. It’s rarely a point of discourse. When there is no discourse around something, it leads to a lack of interest. This is also driving away the bright students from pure sciences to the technology and management which is more remunerative.  

Another issue that sprouts up from lack of discourse is the lack of belief in science. We have seen how in India, many public figures started spreading home remedies and terrible unchecked solutions like the benefits of Cow Urine during the COVID outbreak. The news channels, instead of discussing facts, talked about conspiracy theories. These news channels sometimes invited scientists for talks, but eventually, ruined everyone’s time for their TRP by asking them about the conspiracy theories.

Science literacy can reduce these pseudoscience tactics. Indians extensively believe in spirituality which is good for personal motivation and values, however the unscrupulous elements have often used it to spread misinformation and personal gains. It's imperative that we take a stand to promote scientific thought, and this is not at all an arduous task. Instead, the solution is straightforward: We need to communicate.

We need our own Neil DeGrasse Tysons, Carl Zimmers, Carl Sagans who can communicate with the common people about scientific development, in a simple language. This will help us to kick start our journey towards the Golden Era of Science without a baggage of baseless beliefs, pseudoscience, and untested products.

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