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 4:47 PM

Alija Izetbegović: Journey from prison to Bosnian Presidency

In a world that still holds up the burden of racisms and prejudice, the struggle of vanquishing differences between various religious sects and political groups that emerged vibrantly back in the late 20th century sets an exemplary path for leaders today to follow.

The legendary Bosnian leader, Alija Izetbegović, who dedicated his entire life in the process of protecting human rights of Bosnian Muslims who were subjected to brutal crimes and violence by the neighboring countries, with his visionary and revolutionary thoughts played an important role during the dramatic changes that took place post the World War II.  

Born in 1925, Alija was always driven by his strong moral compass. For him, his ethics and his moral principles served him as a winning weapon in all battles. According to him, ethics added meaning and purpose to life.

He studied from the ‘University of Sarajevo’ with a degree in arts, laws, and science. His life journey began when he first appeared in the frontline as a civil right activist of an organization established by Sheikh Muhammad Kharji and Sheikh Cassim Dobreje.

It was in 1946 that he was first arrested when he was a twenty-one year old youngster. He was condemned for being a part of a group/organization that expounded religious freedom and human rights. He was sentenced to jail for 3 years. Unfortunately, this wasn’t an end to his hardship. In 1949, young Izetbegović was once again imprisoned, as per the orders received from a special military court. This time he was given a five-year sentence. His crime - active support behind the Young Muslim Organization. Izetbegović spent his youth behind the bars thinking and strengthening his spirit of establishing a multicultural Bosnia once again.  

Later in August of 1983, Izetbegović along with eleven other scholars was sentenced to 14 years in prison. It was during this time that Izetbegović wrote his book, “Notes from Prison: 1983-88”. In his book, he encompasses his experience at the prison cell and how resistance grew in him during all these years.

Izetbegović soon faced national and international Media under his virtue of engagement with the social and political affairs of the country. In 1990, he founded the Party of Democratic Action (SDA) and won the elections with a majority in 1992. The man who spent years in jail yet, filled with optimism and encouragement, had made it through all the agonies and challenges life put him through. With his party gaining central power, Izetbegović was elected as the first President of the country. Later, he also announced Bosnia-Herzegovina an independent republic.

Although Izetbegović was now the president of a young republic country, an end to criticism and racial crimes was not yet achieved. During the Croat-Bosniak war in 1993, the Croats destroyed the Mostar bridge (also known as Stari Bridge). Underlining their catastrophic act falsely as strategically driven, the Croats through this destruction attacked the symbolic importance of the Bridge, which was to connect diverse communities across it.

Despite the sustained attacks and strenuous efforts of the neighboring countries to curb rising unity and ethnicity in Bosnia, the Bosnian Leader always taught his fellow countrymen and soldiers to be superior morally first. He believed that it is this superiority that will fetch them their ultimate goal. For him, instituting peace was a fundamental duty, a greater win, or “greater jihad” over any other military victory. Rising international pressure ultimately brought peace in 1995.

Finally, he stepped down from the presidential throne in 2000. After he grimly fell ill, the greatest revolutionary thinker died in 2003. His eternal story of life struggle is inspiring, making him worthy of the title “wise king”.

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