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?

Publisher

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 4:46 PM

Plant- Microbial fuel cell: Generating electricity from green, living plants

Humans are capable of discovering and creating great things with the help of science and one such impressive discovery is that green, living plants can generate electricity. It may seem unbelievable, but not impossible.

One must be wondering how this technology works. Well, the answer is quite simple; photosynthesis. Plants excrete organic matter into the soil as a result of photosynthesis. Only some of the organic matter is used by plants and the rest is released in the soil. This released organic matter is broken down by bacteria. In the breakdown process, electrons are released as a waste product. Since the movement of electrons produces electricity, these electrons, which are of no use to the plant, can be harvested. The best part about this innovation is that the plants from which energy is being generated are not affected in any way.

This idea was first put into use by a Dutch start-up called Plant-e. This company was launched in September 2009 and is successful in launching and selling many environment- friendly products like DIY kits to the public for experimentation purposes and modular systems which could be easily installed on green roofs for abundant electricity production. Plant-e is involved in various projects, within The Netherlands, like automatic lighting systems in gardens and many more.

This technology works with the plants which thrive in moist soils and where the water is present in abundance. Therefore marshlands, paddy fields and deltas are some of the most suitable places for setting up plant batteries as a huge amount of water is present in those areas. Hence, the use of this technology is limited to certain geographic areas containing moist soils and cannot be used in arid regions. It may, however, promote the growth of more trees and plants which will gradually reverse the malicious effects of global warming.

Another obstacle in widespread adoption of this technology in today’s time is the high cost of installation of the system. The initial adopters of this technology are those who are attracted by the efficiency and eco-friendly nature of the plant batteries and willing to pay a premium for it.

The concept of plant batteries can be further taken into rural areas where most of the population still does not have access to adequate electricity. It is estimated that plant-MFC technology can cover upto 20% of European Union’s primary future electricity needs. Also, plants are almost 100% efficient at converting photons from sunlight into electrons which indicates a bright future for this technology. However, more research needs to be done in this field.

Another innovation in the field of green electricity is using algae , which often grows in ponds and rivers, for generating electricity. The basic concept which explains the working is similar to the way plants are able to produce electricity; photosynthesis.

Various other ventures in the field of renewable energy also include vegetable batteries, meaning, electric power generated from fruits and vegetables like lemons, tomatoes and potatoes, have been investigated. According to experiments, at least 3 to 4 vegetables are required just to light a small LED bulb. Moreover, it leads to poisoning of the vegetables and those food products need to be thrown away, without being useful for consumption purposes. It is therefore not a viable option for energy production.

Plant based electricity generation is still an evolving technology which has immense potential for producing energy in an environmentally sustainable way. It will realise full potential when the installation cost is attractive enough for the farmers to prefer it over the electricity grids or fossil fuel based personal electricity generator sets.

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