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By Phan Thao – Translated by Anh Quan

A survey conducted by Prof. Dr. Nguyen Dinh Duc from Vietnam National University – Hanoi reveals that in 10 years from 2009, the number of Vietnamese articles published in international scientific journals increased fivefold (between 1,764 articles in 2009 to 8,234 in 2018).

After the introduction of Resolution No.29 in 2013, which promotes scientific research in different fields, only in 2 years from 2017-2018, leading universities in Vietnam possess around 10,000 research result reports announced internationally.

Statistics of Web of Science (WoS) and SCOPUS also display that in 2018, the quantity of annual international announcements related to research result reached nearly 10,000, 70 percent of which belongs to tertiary educational institutes. Vietnam National University – Hanoi and Vietnam National University – Ho Chi Minh City are the two with the most articles.

Minister of Education and Training Phung Xuan Nha commented that since 2014, 23 universities in Vietnam have piloted comprehensive autonomy in operation, in accordance with Resolution No.77 by the Government. This means more organizational-scaled prizes and awards for successful research and published articles.

Following that was the implementation of the Law on Higher Education on July 1, 2019. They have become the driving force for bustling scientific research activities among tertiary educational institutes in the country, leading to an impressive breakthrough in both training and researching tasks.

As a consequence, in 2019, Vietnamese tertiary education was ranked 68/196 nations worldwide, an increase of 12 positions compared to 2018. 2019 was also the first year that 4 Vietnamese universities appeared in the list of Top-1000 Global Best Universities and 11 in the list of Top-500 Asian Best Universities.

Prof. Dr. Nguyen Dinh Duc voiced his opinion that there should be different policies for research groups of different fields. These policies should be sensibly adjusted to ensure the highest performance possible. He then shared that basically, research groups are divided into 3 groups of organizational, national, and international levels, with different financial needs.

Prof. Nguyen Van Tuan from New South Wales University (Australia) suggested that Vietnamese higher educational institutes need to clearly identify their research goals to fulfill the ultimate one of socio-economic growth.

Director of Vietnamese National University – Ho Chi Minh City Vu Hai Quan said that national universities must be bolder to apply breakthrough investment mechanisms to boost scientific research, with a clearer vision.

“A true scientist doesn’t conduct research for the sake of awards or prizes. Rather, he or she must treat research as a lifetime mission, a passion. No matter what the motto of a university is, its teaching staff must carry out scientific research to have a sustainable development”, stated Associate Prof. Dr. Bach Long Giang from Nguyen Tat Thanh University.

By Thanh Hung – Translated by Thanh Tam

The survey notes that the global economy contracted by around 4.5 percent in 2020, the biggest fall in global activity in several decades. Having recovered from lockdown-imposed weakness in the first half of the year, many economies again faced weakness as a second wave of COVID infections triggered renewed lockdowns. The survey envisions a steady recovery this year, but continued uncertainty limits the bounce in consumer and busines confidence, with pre-crisis output not being reached until mid-2022.

The survey also indicates that the Global orders, employment and capital investment indices recorded a further modest improvement, but still point to activity well below the pre-crisis level in the fourth quarter of 2019. The “fear” indices which means the concern about customers and suppliers going out of business, edged lower in the fourth quarter (Q4) of 2020 but remain elevated, clearly underlining the extreme uncertainty in the global economic outlook at the start of 2021. At the same time, inflation concerns remain negligible with concern about costs staying close to an all-time low.

“Last year was the worst for the global economy for several decades,” said Warner Johnston, Head of ACCA USA. “2021 will see recovery, but precisely when and how strong it will be is very uncertain. We anticipate a weak start, followed by a recovery gathering momentum through the second half. Much depends on the evolution of the COVID virus and variants relative to the progress of vaccination programs, and there is great uncertainty surrounding these developments.”

Agreed with this points, Raef Lawson, IMA vice president of research and policy analysed the policy responses to the pandemic that have left public finances of most economies in a perilous state with budget deficits in the range of 10 percent to 15 percent of GDP in many countries with debt to GDP ratios well over 100 percent.

In North America, confidence dropped in Q4, having jumped by the most on record in Q3. The orders and capital spending indices were both little changed in Q4 and were well below their pre-crisis levels of a year ago. The employment index recovered significantly in Q4, highlighting the continued relatively good jobs market rebound since the early weeks of the pandemic. Overall, the North America region GECS is consistent with continued recovery in early 2021.

Meanwhile, the U.S. economy suffered one of the smallest contractions among advanced economies last year – likely around 3.5 percent. A large fiscal package equivalent to around 10% of Gross Domestic Product and easier monetary policy, including cuts in interest rates and greatly increased quantitative easing, cushioned the economic downturn.

But toward the end of 2020, the economy was losing momentum and COVID infections were increasing rapidly. The report notes that the economy was likely to show modest expansion in the fourth quarter of 2020, but renewed weakness is possible in early 2021.

“There are significant risks to the outlook for the year ahead,” Lawson underlined. “Much depends on the evolution of the COVID virus and variants, rates of infection and the speed and effectiveness of vaccination programs. The central case is economic weakness early on in 2021 as the virus dominates, followed by recovery gathering momentum later in the year as vaccination takes effect. There are significant risks surrounding the timing of these developments. In addition, the emergence of vaccine- resistant variants of the COVID virus, unexpected adverse side effects from vaccination and low vaccine take up are also health-related risks that could cause deviations in the recovery path.”

The GECS, the largest regular economic survey of more than 3,000 senior accountants and finance professionals from around the world, captured the true scale of the global recession caused by the response to the coronavirus pandemic, noting that global economic prospects have deteriorated since the survey was completed on December 8.

PV

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Bitcoin, the world’s biggest and best-known cryptocurrency, has risen 83.7% from the year’s low of $27,734 on Jan. 4.

Bitcoin has fallen 12.7% from the year’s high of $58,354.14 on Feb. 21.

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Ether, the coin linked to the ethereum blockchain network, rose 7.18 % to $1,595.64 on Wednesday, adding $106.84 to its previous close.