Why does Vu Duc Dam call vaccine deposits a high-risk waste?

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Vu Duc Dam Identifies High Risk and Waste in Vaccine Deposit Payments

Vu Duc Dam, the head of Vietnam's coronavirus task force, views paying large deposits for vaccine supply as a high-risk endeavour and a waste of resources. This perspective stems from the current global imbalance between vaccine demand and availability. Vietnam's strategy remains focused on containment measures, which have proven effective in limiting cases and deaths.
Unfavourable Supply-Demand Dynamics

The deputy prime minister highlighted that global demand for vaccines significantly outstrips the available supply. This imbalance necessitates substantial upfront payments, or large deposits, to secure a position in the supply chain. Dam considers these financial commitments to be a considerable risk, especially given the uncertainties surrounding vaccine development and distribution timelines.
Focus on Proven Containment Strategies

Vietnam's approach prioritises its existing, successful containment strategies over potentially costly and uncertain vaccine acquisition. The country has maintained a low number of COVID-19 cases, totaling 1,210, and has experienced extended periods without community transmission. These measures include aggressive mass testing, centralised quarantine facilities, and early border closures, which have been widely lauded.
Timeline for Home-Grown Vaccine

While Vietnam is pursuing vaccine development, its own home-grown vaccine is not expected to be available until the end of 2021. This vaccine is slated to enter human trials this month. This timeline underscores the country's reliance on non-vaccine interventions for the immediate future.
Economic Impact of Containment Measures

Vietnam has allocated approximately 18 trillion dong (RM3.2 billion) towards containing the virus and managing its impacts. These containment efforts have positioned the Vietnamese economy for a faster recovery compared to many other nations, with projections for GDP growth between 2.0-2.5 per cent for the current year and 6.7 per cent in 2021.

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Why does Vu Duc Dam call vaccine deposits a high-risk waste?

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