Of course, the Vietnamese policy also entails risks. For example, the national debt will increase. Since 2016, the national debt has nearly touched the ceiling of 65%, which offers limited space to borrow more. In addition, it could happen that companies rely too much on government support rather than finding ways out of the crisis by themselves, which would ultimately make them strong. Vietnam should resist the temptations of long-standing Keynesian policies. This always leads to an upward spiral of state interventionism. There have been economic crises and there always will be. It would be alchemy to believe that Keynesian instruments can eliminate or dampen them. Measures may be necessary in this case, but they should be taken with a sense of proportion and be limited in time. … [Read more...] about Coping with the outbreak in the Vietnamese way – a role model?
Facing the outbreak of the COVID-19 pandemic, the Board of Directors of Bien Dong POC has promptly carried out a series of measures to fight the epidemic and put a check on the disease at all onshore and offshore business operations. Before entering our platform, employees must submit a declaration of their travel history. Workers are required to spend 14 days in self-isolation at home before they come to the offshore platform. … [Read more...] about PetroVietnam workers put in maximum effort to overcome oil price fall and COVID-19