By this time article published, Southeast Asia countries are generally in partial lockdown. As this region is quite broad and diverse politically and economically, each country’s government handles the pandemic differently. As a running company, how do we learn from the policies set by the governments? How do we determine the right policies to keep our company stable while battling with the government’s restriction?
Take Malaysia’s RMCO (Recovery Movement Control Order) for example, its purpose is to slowly recover the economy back to its regular state. Knowing that Malaysia is hitting the worst recession in its history, the Government is sure that the strict lockdown called MCO (Movement Control Order) has eased the recession so Malaysia does not plunge into the worse one. Socially, people are more relaxed across Malaysia. The malls are open, and restaurants are available for dine-in. However, after some time of having a near-zero case, some new COVID-19 clusters are emerging.
It’s different in Indonesia, as the biggest economy in Southeast Asia, Indonesia is reluctant to apply a strict measure to contain COVID-19. As a result, when the other SEA countries’ economic growth was in the minus state, Indonesia was still in 3% of growth last quarter. Although, the recession is in front of the eyes, it but is not official yet since the third quarter isn’t ended yet.
The policy of what Indonesians called PSBB (Pembatasan Sosial Berskala Besar/ Large-Scale Social Distancing) is implemented in several provinces, not in the entire nation. It seems very reluctant, yet the result is still unclear for the long term. In Jakarta, the local government still tugging on its many regulations to control the spread of infection. It just retracted its policy to re-open theatres and gyms. However, some provinces have shown the trend of decreasing the number of infections, yet the number of COVID-19 infection cases has surpassed 150.000.
Singapore’s Circuit Breaker
In Singapore, the strict lockdown is called Circuit Breaker. It is as strict as the citizens could be fined for visiting each other. It ended on June 2nd, but the case of infection is still going on there. In the second week of August, Singapore has flattened the curve into less than 100 cases per day and has slowly re-opening its border since July. As the busiest port in the area, Singapore has been doing what it’s called Border Control Measure to prevent the spread. Socially, it’s complex to explain what has happened in Singapore. From holding a successful General Election to having COVID-19 cases mostly concentrated in the immigrant community are some wonders are happening there.
Next, in Vietnam, the people and the government are enjoying the praise from worldwide as one of the best countries, not only to handle but, to tackle the virus gracefully. However, the resurging case marks the second wave of the pandemic. This means Vietnam is going to be the first country in SEA to get over the pandemic and possibly averts the recession that has hit its neighbors.
Philippines’ Community Quarantine
Meanwhile, Duterte already promised to ease up the lockdown in Manilla. However, the Philippines has surpassed Indonesia in terms of the number of cases. It has hit the record of nearly 5000 cases in a day and the worst recession in over 29 years. The strict lockdown in implemented Manilla and the number of passengers of public transportation have been very limited. Although its cases have surpassed Indonesia 40.000, the death toll is still half of Indonesia.
So, what’s the takeaway?
The complexity of dealing with the pandemic is unmeasurable. Every country determines its policy which involves bureaucracy, science, economy and social issues. The race of creating vaccines and taking some preventive measures to slow the spread is what these countries are undertaking. So, how do we determine the best strategic policy amidst this situation? In one simple sentence, it can be concluded to be:
“Keep reviewing the external and internal factors that are impacting your company and pivot from there.”
This means qualitatively and quantitatively. It is very vital to have that sense of understanding of your own business since your company consists of so many complex elements. Thus, having a credible second opinion to help you do the decision making is also vital.
Hiring a consultant can be a form of investment; it is to prevent you from making an incorrect decision. Like a finance consultant or HR consultant, both can be essential in helping your attempt in managing your assets. Hence, choosing your best adviser to save your company can start here, by reading this article. Feel free to visit our website to find out the HR services you need.