US magazine hails Vietnamese fight against COVID-19

Update: 14:01 | 26/10/2020
BORGEN Magazine of the United State has published an article lauding Vietnam’s effective containment of the novel coronavirus (COVID-19).
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US magazine hails Vietnamese fight against COVID-19
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The magazine details how the country has taken a unique approach to tracking the virus, with mass-testing procedures allowing Vietnamese doctors to develop efficient methods of contact tracing, therefore effectively controlling the spread of cases.

The publication notes that despite the longevity of COVID-19 globally, the Vietnamese Government remains optimistic about the future prospects for the local economy.

It quotes statistics compiled by the Vietnam Institute for Economic and Policy Research (VEPR) that predicts the country will record GDP growth of at least 3% by the end of the year, while citizens have already resumed normal economic activities.

“In the midst of a global pandemic, the spirit of Vietnam seems unworried about fiscal matters”, the publication mentions.

It points to several factors involving the Government’s policies when outlining Vietnamese success in fighting COVID-19.

“Over the past few decades, the poverty rate in Vietnam has fallen drastically as services such as health care have become more widely available to citizens. In 1990, the country’s extreme poverty rate was 50%, but today that figure has fallen to 2%. In 2019, 90% of Vietnamese citizens had access to health insurance, compared to 59% in 2011”, the publication notes.

According to BORGEN, Vietnam’s management in the face of COVID-19 reflects similar measures that the country has to combat poverty.

“Even as COVID-19 in Vietnam dies down, economic projects are underway as countermeasures against poverty and toward the development of the country. The Government’s recently-issued Resolution 84 outlines incentives and fee reductions for small, private-owned businesses as they attempt to operate during pandemic times”, the article details.

In line with this resolution, there has been a 15% reduction in the renting price for Government-owned land. In addition, the resolution includes a 2% interest reduction for Government loans to small and medium-sized enterprises, with these fee reductions being potentially conducive to more employment and greater amounts of business.

The article also mentions the free trade agreement that has been signed by Vietnam and the EU, with the deal eliminating 99% of tariffs on traded goods between the two markets.

According to BORGEN, global organisations such as the World Bank view this trade deal in a positive light.

“The World Bank estimates that Vietnam’s GDP and exports may be boosted by 12% by 2030. These optimistic projections also benefit the citizens of Vietnam - many of whom are farmers or producers of exported goods”, according to the magazine.

BORGEN Magazine, run by The Borgen Project, is one of the leading media outlets for people interested in global issues, politics, and human rights.

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(Source: VOV)