In this talk, I shared my opinions about economics post pandemic in Southeast Asia and answered questions.

1. Presidency University, School of Commerce, Faculty Development Program
Saturday Talk - Entrepreneurship Series I (International), 14th May 2022
Some thoughts about economics post pandemic
in Southeast Asia
Prof. Dr. Loc Nguyen, PhD, PostDoc
Loc Nguyen’s Academic Network, Vietnam
Email: ng_phloc@yahoo.com
Homepage: www.locnguyen.net
Thoughts about economics post pandemic
14/05/2022 1

2. Table of contents
1. General evaluations
2. Some proposals
3. Q & A
2
Thoughts about economics post pandemic
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3. 1. General evaluations
• The countries affected much more by the beginning of pandemic in 2020
will recover faster with higher growth rate because their economies are
internationalized or joint local zones deeper [1]. Conversely, countries
affected less in 2020 will continue recovering more stable because they
control the pandemic better with isolation policies [1].
• The pandemic forces countries to improve the vaccination and public
healthcare [1] and so one of the important areas developed post pandemic is
healthcare system.
• CPI and tourism industry are eager to recover but governments concerns
more about domestic developments like infrastructure. Especially, recent
conflicts are breaking some supply chains relating to energy and food. In
other words, the globalization is being decreased and the focus on local
zones is being increased.
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4. 2. Some proposals
• Because CPI and production are being increased, state banks should try to restrain
the decrease of credit interest in order to restrain the inflation post pandemic. The
decrease of credit interest will weaken the domestic monetary unit (weaken the
exchange rate). Conversely, increasing the credit interest will cause trouble to the
recovery. Therefore, the trend is to decrease credit interest, but we need to restrain
this trend. FED increased credit interest because US economy is recovered ongoing
and so they are preventing inflation.
• Moreover, deposit interest should be increased by narrowing the difference between
deposit interest and credit interest, if possible, in order to increase currency reserves,
which implicitly increases public expenditure and decreases inflation too. Increasing
currency reserves also aims to resist the breaking of some supply chains.
• This monetary policy requires effort of state bank system, which implies the focus
on local zones.
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5. 2. Some proposals
• It is no doubt that public expenditure should be increased to provide
more labor works. Labor works and the poor are affected more by
pandemic and conflicts. Therefore, besides public expenditure by
governments, development of small and medium businesses also
alleviate negative effects.
• Economies in Southeast Asia are affected much by climate changes
and supply chains. Therefore, green development like green energy
has two goals: 1) alleviating these negative effects and 2) green energy
and infrastructures are aspects of public expenditure.
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6. 2. Some proposals
• Although there is a trend of local zones, Southeast Asia is also the
connector of Indian Ocean – Pacific Ocean strategy. Therefore, the
strategy of Southeast Asia needs the balance and flexibility, like a
humming-top. I call this is humming-top strategy with dynamic
balance. Therefore, in the situation of focus on domestic development
for every country, a good relationship of local zone is also very
important which is the base of the role of international connector for
the globalization in the future. Indeed, local zone development is not
so sharp in Southeast Asia.
• As a connector within humming-top strategy, both the effective
investment and the anticorruption are most important. They are also
very necessary to international relationships.
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7. 3. Q & A
1. Introduce your work domain.
Answer: Thank you and Presidency University very much for certifying and promoting me. “Creative man
is The Creator”. This is my favorite statement. I am Prof. Dr. Loc Nguyen from Vietnam, a scientist, a poet
and a business man; especially I am very attractive and enthusiastic. Ultimately, I am the creative man. I
believe that our wealths are originated from creativeness and our civilization is based on the creativeness.
We create our world by ourselves. Therefore, I would like to introduce myself and share you my creative
works in science, technology and art. Main domains on which I focus include:
• Natural science and technology: computer science, statistics, mathematics, and medicine.
• Social science: education, linguistics, and philosophy.
• Economics: project management and information system.
• Art: poetry.
Do not hesitate to contact me because I am very enthusiastic. My online curriculum vitae is
http://cv.locnguyen.net.
2. What are the ways you are attached in business/entrepreneurship development in your country.
Answer: I am motivated by my dream with my energy, will, and effort because I early recognize the
dilemma of politics and economics. Moreover, family and friends are willing to help me. My path is on the
creativeness with some lucks like God helps.
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8. 3. Q & A
3.Dr. Loc, you are a scientist and poet and entrepreneur. How do you join the dots to also be a successful
entrepreneur?
Answer: Thank you and Presidency University very much for certifying and promoting me. This is my biggest
honor and happiness. As an individual, besides many things, we need three best things to be a successful
entrepreneur: 1) finding jobs you do best, 2) establishing a best group, and 3) planning a best plan. As a nation,
we need also three good things: 1) establishing a good political system including official system – economical
system – security system, 2) building up a good international relationship policy, and 3) planning a suitable
national strategy. Science and art share the same ideology of innovation. I love creativity and I would like to
enjoy it in business.
5.Dr. Loc, now straight away to the topic of the day. In overall how will you assess the position of the Business in
South-East Asia at present scenario.
Answer: Although there is a trend of local zones, Southeast Asia is also the connector of Indian Ocean – Pacific
Ocean strategy. Therefore, the strategy of Southeast Asia needs balance and flexibility, like a humming-top. I
call this is humming-top strategy (spinning strategy or connector strategy) with dynamic balance. So, the
business in Southeast Asia does not go beyond this strategy, as a connector of international trade. For export
with fuel, mineral, and agricultural products, we need to build markets. For manufacture with mechatronics, we
find out knots in the international supply chains, firstly with local factories but this is temporal with regard to
future view. For transport, we build intermediate stations. In other words, business or trade is support of
connector strategy.
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9. 3. Q & A
7. What are the emerging opportunities in your country related to the entrepreneurship and start-ups.
Answer: My country is nearly similar to countries in Southeast Asia and so I would like to mention
Southeast Asia countries in general. Of course, there are many opportunities also challenges in our
countries such as young/large/motivative population, technology enhancement for inheritors, cultural
diversity, and open trade. However, I would like to say about the big era opportunity which is the
important role of strategic connector in the world map with both economy and security. In other
words, this big opportunity is the competence of Powers. Of course, it also implies other challenges
and difficulties. The problem is how to take advantages of such competence, or we may be plunged
(immerged).
9. Related to the opportunities, what are the potential problems and could be the potential problems
especially considering the challenges in the pandemic time.
Answer: I forgot mentioning the pandemic time. In the post pandemic, the opportunity is to foster
healthcare system, construction, and commodity trade because the vaccination is focused on the
pandemic and there are many inhibitions related to expenditure. However, three big problems are
corruption, ineffective investment, and inflation. Moreover, we should concern outbreak again with
dangerous variants. Fostering healthcare system also aims to prevent the outbreak again.
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10. 3. Q & A
10. How Government or any related bodies are working to delete/mitigate/minimize the problems
especially considering the challenges in the pandemic time.
Answer: There are many things to do but I would like to focus on essential solutions. Indeed, we
should focus on fiscal policy with public expenditure and monetary policy with credit interest (view
previous slides) for four goals such as stable recovery, effective investment, corruption resistance,
and inflation resistance. In the most general view, we must restructure, restructure many things and
many areas. For example, rural development and digital economics can resist well the pandemic.
13. Regarding the Governments role, let us know about different schemes and policies that are to help
the start-ups in your country.
Answer: In my current viewpoint, I cannot answer this question exactly in detailed. Schemes and
policies vary according to nations together their personality, culture and geography. Shortly, we
should follow the humming-top strategy associated with green development which imply both
diplomatic and domestic solutions. Humming-top strategy (also connector strategy) owns dynamic
stability and dilemma resistance. Schemes and policies can be derived from this strategy. Moreover,
effective investment and corruption resistance are very important.
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11. 3. Q & A
15. Dr. Loc: What are the emerging research areas in entrepreneurship considering your country
(based on the academic fields of entrepreneurship)?
Answer: Because digital economics can resist pandemic, digital transformation is an
emerging research. Moreover, high-tech in agriculture should be concerned because the
pressure of urbanization is causing many problems, especially the gap between the rich and
the poor. Rural development also relates to how to use land in effective way.
17. Considering Vietnam and India, what could be the sectors of business co-operation that
could help both the countries in developing Entrepreneurial Eco-System in their respective
countries.
Answer: I love India, Vietnam and Asian countries. India is the Power with high
development and Southeast Asian countries are self-motivated. Therefore, I hope that we can
co-operate in sectors of information technology and agriculture. Moreover, transportation
and trade are also very good. I wish that India will build a railway from Mumbai to Bangkok
diverged to Ho Chi Minh city, and Kula Lumpur.
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12. 3. Q & A
19. Dr. Loc: In future, what are your plans in developing entrepreneurship in your country?
Answer: For this question, I focus on detailed plan instead strategy. First, I list areas as essential and
appropriate parts to the economics, or as knots in supply chains. Second, I consolidate legal execution
systems. Third, I withdraw capital from governmental corporations and only keep essential governmental
corporations which will be consolidated. Fourth, I motivate small and medium companies by favor policies
and control large corporations by anti-exclusive laws, for instance.
Moreover, I consolidate domestic economy and concern more high technologies like semi-conductor and
artificial intelligence. The gap between the poor and the rich is very important, which causes many hazards,
in which rural development is one of good solutions. Especially, monetary policy is very important. We
cannot develop manufacturing industries along with tourism and culture without support of financial system
although national power depends directly on productivity capacity.
21. Dr. Loc: From your experience and expertise suggest points for our students that how they will be successful
entrepreneur in their life (from a view of academician and also businessman).
Answer: We need three best things to be a successful entrepreneur: 1) finding jobs you do best, 2)
establishing a best group, and 3) planning a best plan. In early career, our students only need to follow their
dream and your dream. Thank you so much for giving me a big opportunity in this talk. This is the first time I
serve as your speaker. I hope I will have another chance to discuss with all of you in the next time. See you
later.
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13. References
1. Southeast Asia Rising From The Pandemic. Asian Development
Bank. March 2022.
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14. Thank you for listening
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Thoughts about economics post pandemic
14/05/2022