With its close proximity to China, Vietnam’s low number of Coronavirus cases are a testament to the country’s fast reaction to the crisis. As of April 16th, Vietnam’s Ministry of Health confirmed a total of 268 cases of COVID-19. So far, 171 of the affected patients have recovered.
Vietnam’s Prime Minister Nguyen Xuan Phuc announced a national lockdown to fight the virus at the end of March, with the population of nearly 100 million people requested not to go outside except for food and medical needs. That includes shutting down many non-essential businesses. However, the majority of manufacturing companies remain open under strict occupational health and safety measures.
Support packages of USD 10.4 billion for businesses and 1.2 billion for social security and business difficulties has been provided by the State Bank of Vietnam and the Ministry of Finance, respectively.
ecoligo’s Country Manager in Vietnam, Thuong Duong, explains the situation.
The Southeast Asian nation has won international praise for its response to the coronavirus, with officials acting quickly to quarantine patients and trace contacts. Despite having fewer resources as a developing nation, Vietnam limited the first wave of infections that began in January, with the lockdown now in place to contain the second wave.
The country is also supporting others in their response, recently shipping 450,000 protective suits to the US to assist healthcare professionals during the COVID-19 pandemic.
ecoligo entered the Vietnam market in February and has recently signed its first solar project in the country, to provide affordable and sustainable power to a packaging business. The project will be launched for crowdinvesting on the www.ecoligo.investments platform this month. ecoligo’s operations in Vietnam are minimally impacted by the pandemic.
In other markets, ecoligo is in close contact to each of its clients and is committed to supporting them through the impacts of the pandemic. A guarantee fund has been launched to safeguard crowdinvestors against any possible impact and enable the continued journey towards the global energy transition. Read more here.