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 4:44 PM

World's largest graveyard of Dinosaurs found in South Africa

In a village in the eastern cape of South Africa lies one of the most significant dinosaur sites ever found in the world. The site was discovered when a shepherd, Dumangwe Thyobeka found a large bone on his way to his great-grandparents’ graves, in 2015. He then took the bones to a local dinosaur enthusiast, James Rhalene. Commenting on this discovery " Mr. Rhalene said, "Growing up we were told dinosaurs were a myth, I thought they were only tales our grandparents would tell around the fire at story time", and It wasn't until reading some books that I started to believe they may be real. I've been looking into the existence of dinosaurs since 1982. He added, "You can imagine my excitement at being part of this and discovering them in my own backyard. I am so proud. Books will be written about our small village; the world will come to know of us through this discovery.”

These bones are more than 200 million years old, of around the end of the Triassic era and the beginning of the Jurassic one. When the village elder, Sginyane Ralane came to know about the discovery, he reached out to universities in South Africa for looking into it. The news eventually reached Prof. Jonah Choiniere from the University of Witwatersrand in Johannesburg, and in 2018 Jonah and his colleagues started excavating the site. “It has been one of those places where you sometimes find yourself literally tripping over a dinosaur bone. There are very few other sites I've had the chance to work where we have this richness of fossils.” says Prof Paul Barett, a dinosaur expert at The Natural History Museum, UK, after he joined the team.

A reason why this area is abundant in fossils, Natural History Museum explains, is because of the ancient river systems in the area. The area is arid for most of the year now, and the rivers flow only seasonally. However, in the ancient times, there were vast river systems flowing year-round in the region, with wide, shallow rivers which would consequently form a layer of rock 210 million years old which is up to 500 meters thick in some regions. These rivers supported diverse wildlife, including ancestors of crocodiles, possibly those of turtles and mammals and fish, amphibians and reptile-like animals. The existence of such large rivers meant that dead animals nearby would be buried in sediment before they decomposed.  

This discovery is scientifically important for a number of reasons; the era from which these bones are found is a boundary in which a mass extinction occurred. Prof. Jonah is trying to understand how the animals from before that extinction survived and how they flourished after. In the Triassic era, there were multiple dominating animals, like the crocodiles, big mammal-like animals and dinosaurs. In the Jurassic era, however, the dinosaurs are clearly dominating. Why this happened is unclear, and the rocks and fossils from this site might help with that. There were also other animals along with dinosaurs in this site which make it noteworthy. Of the animals found, there were rauisuchians, which relate to modern-day crocodiles, and were dominant on land during the Triassic. The team also found cyclodonts and dicyclodonts, where the cyclodonts are the early ancestors to all mammals, and dicyclodonts are an even earlier branch of the mammalian family tree.

All of these have a significant impact on the community too; the team signed a memorandum of understanding with the local government with huge. After the signing, local officials visited the site at Qhemega. The team has been trying to use the heavy machinery they had brought for moving fossils for improving access in and to the village. They are also developing a curriculum in high schools to include topics about fossil sites and to add geography to the curriculum, to train the younger generation about the mapping used in excavation and in many other scientific fields especially relevant in the mineral-resource rich South Africa.

So far, this site has only provided benefits for everyone involved; new discoveries and confirming data for the scientific community, and economic access, increased opportunities and a matter for pride for the local community.

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