Social distancing has become the norm and every country has to face the tough call on how best to steer its citizens to try and overcome this global natural disaster. In Vietnam, we are coming to the end of the current guidance on the 15th April and it appears the decision to extend further is becoming increasingly difficult…
A few months ago, no one had heard of COVID-19. Since then, new terminology has entered into our everyday language. Who can honestly say that up until a few months ago they had been using expressions such as “Social distancing,” “Flattening the curve,” or “PPE” (Personal Protective Equipment)? I think we can safely say that the majority of us had never used any of these in a sentence, ever. Today these expressions are commonly used in conversations on a daily basis around the world.
Social distancing has become the norm and every country has to face the tough call on how best to steer its citizens to try and overcome this global natural disaster.
Social distancing has become the norm and every country has to face
Vietnam is no different and has largely been successful in managing the situation. Having said that, social distancing has been rather hit and miss with how it has been adhered to. Rising numbers of citizens can be seen on the streets of Hanoi and Ho Chi Minh City. Much perhaps to the frustration of many who have taken the decision to follow the guidance to the letter.
Related: Vietnam may continue social distancing if new Covid-19 cases found
The early response to the pandemic almost certainly has had an impact on the current numbers of infections throughout Vietnam and its containment. Compared to other countries Vietnam is doing incredibly well if all parameters are taken into consideration. Size of population, geographical borders with China etc. With active cases probably about to fall under 100, it would be hard for anyone to argue that the steering that has been offered has not been beneficial.
We are coming to the end of the current guidance on the 15th April and it appears the decision to extend further is becoming increasingly difficult given that the containment is largely under control. The decision has so many elements to consider in order to balance out the benefits of allowing more movement and businesses to re-open over health concerns. But there are really only 2 outcomes. More cases or a continuation of the “flattening of the curve.” (See, I just used this new expression I have never used until recently).
I ran a 24-hour opinion poll on an expat group Facebook group I manage and the results may not be that surprising. The response was rapid as naturally this extension will affect people economically and perhaps even emotionally and physically. Stress levels will rise when an income is harder to source as not everyone has the ability to work from home.
The question was simple. “In your opinion, should the lockdown be extended to the end of the month”? The word “lockdown” might have been a bit strong, but I wanted to remove any doubt in the question. Guidance may well have been a better choice.
Also read: Vietnam undecided about extension of social distancing duration
The answers that participants were offered to respond with were also kept simple. Either “YES”, “NO” or “NOT SURE”.
335 members of the group answered within the 24-hour period and a total of 214 agreed “YES”. 108 said “NO” and 13 responded with “NOT SURE”.
Social distancing empties streets in Ho Chi Minh city of Vietnam
That equates to a very high 64% agreeing that there should be an extension. The majority seem to view that perhaps health concerns should come first. And really who can blame them? Although everyone will have a personal reason for deciding for themselves what are the pro’s and con’s to an extension or not. One thing is for sure, the decision to keep businesses closed cannot be an indefinite decision. At some point people we will have to return to work although I get the general consensus is a staggered return. No Government can indefinitely print money or keep pumping out stimulus packages forever without that debt eventually being placed back on the population as a whole. Whether you see it in future rising taxes or skyrocketing inflation levels.
Financially, savings will be disappearing and depending on your age, future uncertainties will be at the forefront of most people’s minds to differing levels and logic. Am I close to pensionable age? How am I going to pay for school fees or the mortgage? How am I going to afford to feed and clothe myself and my family even? For many in Vietnam, there is no fall-back plan apart from assistance from perhaps family members.
The task the PM has to balance here and in every country around the world is an unenviable task. In many cases you are “damned if you do and damned if you don’t”. I personally am thankful that the decisions the PM has made to date have been taken. Looking around the world, I genuinely feel safer here in Vietnam than had I been in my own home country. Coming from the UK and sadly watching the death toll rise in ridiculous numbers is heart wrenching. The same could be said for many nationalities that watch the story unfold in their own home nation and around the world.
“I genuinely feel safer here in Vietnam than had I been in my own home country”. @ Lawrence Young
I for one do not envy the PM or anyone in a position of power whose decisions will steer the course of this pandemic. I can only imagine the sleepless nights the weight of those decisions must carry. Thankfully I don’t have to make them and am happy to continue social distancing no matter what the decisions may be over the next few days. I would hope that most would agree that here in Vietnam, the PM has called it correctly. As a guest in this country I am more than happy to follow any guidance that is decreed because so far it appears to be the correct guidance no matter how tough it is.
Let’s hope it will change for the better sooner rather than later.
Words by Lawrence Young | The opinions expressed here are his own.
Lawrence Young (lawrence.young@holbornassets.com) works for Holborn Group, he is now based in Vietnam office. His areas of expertise lie in personal, lump sum or regular monthly premium tax free savings structures, global investment property, higher education fee planning, inheritance tax issues, frozen and open pension planning through ROPS or SIPP’s, life and general insurance, will writing services and offshore company formation and banking.
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