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\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\fs40\cf6\insrsid14419246 
\par }{\b\fs40\cf6\insrsid16581983 VIETNAM\rquote S ECONOMY IN BRIEF 
\par }{\b\fs28\insrsid11091156 APRIL }{\b\fs28\insrsid16581983 2009
\par 
\par }{\b\fs28\cf17\insrsid16581983 WB predicts Vietnam\rquote s GDP growth at 5.5 percent}{\fs28\cf17\insrsid16581983 
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 The World Bank released its East Asia and Pacific Update in Hanoi on April 7, predicting Vietnam\rquote s GDP growth at 5.5 percent in 2009}{\b\cf15\insrsid16581983 . }
{\insrsid16581983 
\par }\pard \qj \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\insrsid16581983 In its report, the WB said that 2008 was a decent year for Vietnam though it faced numerous difficulties, including run-a
way inflation, asset price bubbles, an increased trade deficit and tight credit markets, as well as the negative effects from a fall in global commodity prices and trade. The government responded well by shifting its priorities from growth to stabilisatio
n in March 2008 and then to economic support in November. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The WB said that although Vietnamese officials were not much experienced in coping with global fluctuations, they \'93climbed quickly the steep learning curve and did well in managing the economy\'94. The
y showed their ability to prioritise, postpone or cancel public investment projects. At the same time, they were well aware of the risks posed by large State-owned enterprises creating or controlling financial intermediaries, and willing to reconsider the
 governance, oversight and investments of economic groups and State corporations. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 According to the report, there is low risk of a financial sector crisis in Vietnam. The direct impact of the global financial crisis on the country is minimal, as banks in Vietnam were not exposed to \'93toxic\'94
 products, nor were they owned to a large extent by exposed foreign banks. The larger joint stock banks increased shareholder capital, retained earnings and improved provisioning. State banks were restrained in their lendin
g and made large profits by buying foreigner bonds. Even the smaller and weaker joint stock banks managed to increase their capital to the new legal minimum.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The risk of a balance-of-payment crisis is also low. The trade deficit during the last six months 
was around US$2.2 billion, while inflows of FDI, ODA and remittances in 2008 amounted to US$16 billion. Remittances and FDI disbursements held well during 2008. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The trade deficit declined and recently shifted to a small surplus, with exports declining due
 to a sharp drop in the price of major export staples since mid-2008. However, the WB forecast that Vietnam may suffer less than other countries because it remains competitive, as demonstrated in its growing market shares. In 2009, it may be granted the G
e
neralised System of Preferences by the US. In addition, imports are declining even more rapidly than exports, partly because the import content of non-commodity related exports is high. Foreign-invested enterprises are large net importers, so the slowdown
 in FDI inflows will lead to a smaller trade deficit.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The WB said that the Vietnamese government introduced monetary policy in a timely manner to offset the turbulence stemming from fluctuations in world prices and export demand. Increased exchange rate fle
xibility and slower capital inflows made monetary policy more effective. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 According to the WB, Vietnam is coping with weak global demand, leading to a decline in domestic demand, that has prompted enterprises to cut production and lay off workers. Meanwhile, bank loans with low interest rates won
\rquote t be able to encourage businesses to maintain production if there is insufficient market demand for their products. The WB recommended that the government directly support families and implement public investment projects.}{\insrsid16581983 

\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs28\cf17\insrsid16581983 Vietnam\rquote s 2009 GDP growth to be highest in South East Asia: ADB}{\fs28\cf17\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 The Asian Development Bank has forecast that Vietnam\rquote 
s GDP growth rate this year will stand at 4.5%, the highest among Southeast Asian countries, and much higher compared to the average GDP growth of the region of 0.7%. }{\insrsid16581983 
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\insrsid16581983 The figure has been released on March 31 in the bank\rquote s flagship annual economic publication, Asia
n Development Outlook 2009 (ADO 2009). Two other countries in the region that also enjoy positive GDP growths, according to ADB forecast, are Indonesia (3.6%) and the Philippines (2.5%). The three remaining countries are forecast to have negative growths,
 Singapore (-5%), Thailand (-2%) and Malaysia (-0.2%).
\par According to ADO 2009, all six countries in the region will enjoy positive GDP growths in 2010 and Vietnam will still achieve the highest growth of 6.5%.\line ADB also forecasts that Vietnam\rquote s inflation will
 be relatively low in both 2009 and 2010, at 4% 5% respectively. 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\insrsid16581983 
\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs28\cf17\insrsid16581983 Int\rquote l organizations see good prospects for Vietnam\rquote s development}{\fs28\cf17\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 International economic and financial organizations say they believe in Vietnam\rquote s development prospects in the medium and long-term. }{\insrsid16581983 
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\insrsid16581983 \line }{\f1\fs20\insrsid16581983 At the 2009 International Conference on Vietnam\rquote 
s External Economy, which concluded in Hanoi on March 18, representatives from the HSBC, Asia Development Bank (ADB) and the World Bank (WB) said that policies currently being implemented by the Vietnamese government demonstrate the country\rquote 
s determination to fight off consequences of the global economic crisis.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The government\rquote s aggressive and timely measures have helped the Vietnamese economy avoid a collapse, they said, adding that the country has only suffered an economic decline, and not a recession.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 According to ADB and WB leaders, 2009 will not be as bad for Vietnam as much of the rest of the world.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 However, attendees also put forth a number of recommendations for the Vietnamese government in th
e short-term, suggesting continued efforts be made in terms of economic and financial reform, corruption prevention and human resource training.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 Sharing the views of the conference\rquote s participants, Deputy Prime Minister and Foreign Minister Pham Gia Khiem s
aid that in order to narrow development gaps with other countries, especially regarding knowledge and technology, Vietnam has adjusted its strategy from development relying on natural resources to high-quality human resource-based development.}{
\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 That is why the Vietnamese government has maintained its proactive position on developing human resources and technology as its leading national policy, Khiem affirmed.\line 
Additionally, Vietnam is implementing breakthrough measures on building a market-oriented economic 
structure, particularly with reforms in State-owned enterprises, finance and banking, and administrative procedures, to maximize its position among regional and global economies.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 To strengthen international economic integration, the country is also carryin
g out an overall integration strategy, targeting the quality and depth of the integration process, harmonizing complicated relationships, and pursuing active involvement in the development of global policies.}{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 While expressing his belief that Vietnam has th
e competence and capability to become a modern, industrial country by 2020, Deputy PM Khiem confirmed that the Vietnamese government will create more favorable conditions for foreign investors to do business in the country./.}{\insrsid16581983 
\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs28\cf17\insrsid16581983 Experts stay optimistic about economy}{\fs28\cf17\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 VNA - Local economists are maintaining that the national economy in 2009 is better off than many think, particularly amid the global economic situation. }{\insrsid16581983 
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\insrsid16581983 The Head of Research under the Hanoi Socio-Economic Development Research Institute Nguyen Minh Phong told the Vietnam News Agency that Vietnam\rquote 
s economy has shown positive signs of potentially stronger growth in the second half of the year. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 Former State Bank of Vietnam Governor Le Duc Thuy said in a recent interview with the online newspaper VnExp
ress that the downturn had reached the bottom in the first quarter, and expects that the economy will start to improve in the near future. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 \'93This is because the situation in Vietnam is not a crisis, but simply a downturn,\'94 explained the economist. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The fir
st government bailout package, which was launched in late January, has shown initial success. As a result, many enterprises, particularly small and medium-sized, have managed to implement several projects and some have announced they are again recruiting 
workers. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 Declining foreign investment inflows are also showing signs of improvement, as they were only at a 4 fold year-on-year decline in March against an 8 fold decline in January. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 Industrial production output has increased 2.1 percent in the first quarter despite numerous difficulties, while retail and service revenues surged by 22 percent. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 Also, the government recently launched its second stimulus package to subsidize loan interest from April 1 this year to the end of December, 2011. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 The move is aimed at infrastructure development, which Phong said will help enterprises cut production costs. }{\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 As for prospects for the national economy in the coming time, Thuy said the government\rquote s recent adjustment of the growth rate to 5 percent for 2009 is within the
 range of predictions made by several international financial institutions, including Standard Chartered, the World Bank, the Asian Development Bank and the International Monetary Fund./.}{\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\insrsid16581983 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\field{\*\fldinst {\fs28\cf12\insrsid16581983 HYPERLINK "http://www.vir.com.vn/Client/VIR/index.asp?url=content.asp&doc=18461" \\\\l "#" }{\fs28\cf12\insrsid7164732\charrsid16581983 {\*\datafield 
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\fs28\cf12\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\cf18\insrsid16581983 : 31-3-2009 
\par }{\b\insrsid16581983 Vietnam\rquote s gross domestic product target is under threat as the global financial crisis continues to bite. 
\par }{\insrsid16581983 According to the General Statistics Office (GSO), the economy grew only 3.1 per cent over the past three months. The increase is much lower than last year\rquote 
s first quarter, when the economy grew at 7.4 per cent, and places the 6 per cent targeted for this year under threat.\line \line 
Nguyen Ngoc Van, vice head of GSO Integrated Statistics Department, said a slowdown in industry, agriculture and exports drove the modest growth.\line During the past three months, Vietnam\rquote 
s industrial production value grew only 2.4 per cent compared to 9 per cent in last year\rquote s first quarter. Meanwhile, the agriculture sector witnessed a reduction of 0.1 per cent due to bad harvests in the northern region. \line \line \'93
The narrowing export and domestic markets forced manufacturers to slow production over the past few months,\'94
 said Van. Export turnover increased 2.4 per cent during the last three months. Although the country enjoyed a trade surplus due to import reductions, the Ministry of Industry and Trade announced that the surplus mainly came from gold exports.
 Other products like rubber, crude oil, electric cable, wood, electricity products, coffee, coal and shoes have decreased against the same period last year.\line \line \'93
That means the global economic recession has had a tremendous impact on our economy,\'94 said Cao Viet Sinh, vice minister of Planning and Investment.\line Sinh said the global economy\rquote s outlook was hard to forecast. \'93
Because we have deeply integrated into the global economy we are suffering from the serious negative impacts of the crisis,\'94 he said.\line \line Sinh sai
d, however, the 3.1 per cent GDP growth in the first quarter of the year was still a good result in the context of a global dark economy. But, he said it would be difficult to reach the growth targets set by National Assembly late last year. Many internat
ional organizations and financial institutes also predicted Vietnam\rquote s economic growth would be from 4 to 5.5 per cent this year, lower than the 6.5 per cent targeted by Vietnam\rquote s National Assembly.\line \line The United Nations\rquote 
 Economic and Social Commission for Asia and the Pacific (UN-ESCAP) last week also forecasted Vietnam\rquote s economy would grow by around 4 per cent this year. The government\rquote 
s plans to prevent the slowdown this year and avoid impacts of the crisis haven\rquote t rung a chord with some, including Vu Dinh Anh, deputy director of the Ministry of Finance\rquote s Institute for Market and Prices. \line \line \'93
The government has just focused on boosting production but not expanding markets. Thus, manufacturers face difficulties in selling their products. Certainly, they have slowed production,\'94
 said Anh. He said the reduction of the consumer price index (CPI) was a sign of the reduction in demand. \'93If demand was boosted the CPI would increase,\'94 he said.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\field{\*\fldinst {\cf12\insrsid16581983 HYPERLINK "http://www.vir.com.vn/Client/VIR/index.asp?url=content.asp&doc=18523" \\\\l "#" }{\cf12\insrsid7164732\charrsid16581983 {\*\datafield 
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\f1\fs20\cf12\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\cf18\insrsid16581983 10-4-2009
\par }{\b\f1\fs20\insrsid16581983 Rising trade protectionist measures will have adverse impacts on Vietnam\rquote s exports and domestic production. }{\f1\fs20\insrsid16581983 
\par }{\insrsid16581983 
The World Bank, in a study released last month, said that since the beginning of the financial crisis, several major economies have implemented trade restriction at the expense of other countries. The measures involve export subsidies, tariff and non-tari
ff barriers.\line \line \'93Export subsidies were particularly egregious because they contravened the draft Doha modalities,\'94
 said the study. It pointed out that the EU recently announced new export subsidies on butter, cheese, and milk powder. Both China and India have increased the rebate on the duty drawback system for exporters. \line \line 
The study said that tariff increases comprised only about a third of these protectionist actions and a half for developing countries. Non-tariff measures include such policies as Indonesia\rquote 
s requirement that five categories of goods, including garments, footwear, toys, electronics, food and beverages, would be permitted to enter only five ports and airports. \line \line 
In some countries, tightening technical standards have slowed import entry, notes 
the study. Experts said that it was difficult to find evidence of protectionist measure impacts on the Vietnamese economy given the impact of the global economic downturn. James Lockett, special counsel of Baker & McKenzie LLP, cited the EU\rquote 
s reintroduction of export subsidies on dairy products in January, 2009, saying it would possibly cause problems for Vietnam. \line \line \'93
There are two places where the re-introduction of EU export subsidies could hurt Vietnam, including in other third country markets and Vietnam,\'94 said Lockett. He said that Vietnam\rquote 
s exports of these products would have to compete in third country markets such as the US, the Middle East, Asia, or Latin America with subsidised EU products and that could be difficult. \line \line Regarding Vietnam\rquote s domestic
 market, he said that Vietnamese producers might have to reduce prices to compete with the subsidised EU dairy products. \line \'93The export subsidies will allow them to be dumped in the developing world, including Vietnam,\'94
 said Jay L. Eizenstat, a Miller & Chevalier lawyer. He said this could undermine and supplant Vietnam\rquote s domestic production of butter, cheese and milk. He pointed out that the EU\rquote s \'93export refunds\'94
 would cover the difference between the domestic floor prices and international prices. \line \line \'93Export subsidies have long been considered one of the most trade-distorting measures used by developed countries,\'94
 said Eizenstat. The World Bank study stressed that protectionist measures had had a significant negative affect on particular exporters and economic isolationism could lead to a negative spiral of events such as those in the 1930s.\line \line \'93
It is a fact that many countries started adopting protectionist measures and many developing country economies which rely on exports will suffer,\'94 said Ayumi Konishi, the Asian Development Bank country director in Vietnam. However, regarding the \'93
Buy American\'94 provision that the US Congress has been trying to insert into the Obama administration\rquote s economic stimulus package, experts said it would be unlikely to affect Vietnam\rquote s exporters. \line \line The \'93Buy American\'94
 provision pushes for the use of federal funds appropriated pursuant to the American Recovery and Reinvestment Act for iron, steel and manufactured goods used for the construction, alteration, maintenance, or repair of a public building or public works.
\line \line \'93Because most of Vietnam\rquote s exports to the United States are textiles and apparel, footwear, seafood products and furniture, it is unlikely that Vietnamese manufacturers and exporters will be negatively affected by the \'93B
uy American\'94 provision,\'94 said Eizenstat. US ambassador to Vietnam Michael Michalak said the US always had certain \'93Buy American\'94 provisions. \line \line \'93We have not increased those and we have not decreased those. So there\rquote 
s no change in our policies,\'94 he said. He 
said President Obama had recently come out strongly saying that he did not want any new protectionist measures and he was working with the US Congress, other multilateral organisations and other countries to make sure that the US as well as other countrie
s would not institute any further protectionist measures.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\field{\*\fldinst {\insrsid16581983 HYPERLINK "http://www.vir.com.vn/Client/VIR/index.asp?url=content.asp&doc=18285" \\\\l "#" }{\insrsid7164732 {\*\datafield 
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\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\cf18\insrsid16581983 3-3-2009 
\par }{\b\f1\fs20\insrsid16581983 Japan, Vietnam\rquote s biggest donor, has decided to resume soft-loan funding for official development assistance projects in its Southeast Asian partner after a temporary halt since last December. 
\par }{\insrsid16581983 In a meeting on February 23 in Tokyo with the Vietnamese government\rquote s special envoy, Minister of Planning and Investment Vo Hong Phuc, Japanese Foreign Minister Hirofumi Nakasone announced the Japanese government\rquote 
s decision to reopen ODA to Vietnam in acknowledgement of its efforts to settle the Pacific Consultants International (PCI) corruption case.\line \line The Japanese government has committed t
o provide $900 million to Vietnam in its 2008 fiscal year, which will fund the construction of an urban subway project system in Hanoi, the second-phase of a sewage project in Hanoi, a sewage and environmental sanitation project in Haiphong and the upgrad
ing of provincial bridges and roads. \line \line In a meeting of the Consultative Group last December, Japan suspended new aid loans to Vietnam until the PCI corruption scandal was solved and effective measures against corruption was worked out.\line 
\line Four former PCI exec
utives admitted, in a Tokyo court last November, to paying $820,000 in bribes to former senior Ho Chi Minh City transport official Huynh Ngoc Sy in exchange for being awarded consulting contracts for Japanese ODA-funded road projects. \line \line 
Sy was then suspended by the Vietnamese local authorities from his post and put in temporary detention for further investigation. Phuc said the Japanese government\rquote 
s decision to re-open preferential loans for ODA projects in Vietnam would be a momentum promoting bilateral economic ties between the two countries. \line \line \'93
Official development assistance plays a key role in the development of economic relations between Japan and Vietnam, besides other two pillars including the foreign direct investment (FDI) and trade,\'94 Phuc said. \'93The resumption of Japan\rquote 
s ODA for Vietnam will help increase FDI inflows from Japan into Vietnam as well as bilateral trade relations of both nations,\'94 he said.\line \line Japan committed more than $13 billion in ODA, including $12 billion in soft loans for Vietnam f
rom November 1992 to March 2007. In 2007 alone, it committed to grant Vietnam $1.1 billion in ODA. Phuc said the Japanese government\rquote 
s decision to resume ODA for Vietnam would benefit the Japanese business community in Vietnam, which would enjoy better infrastructure as a result of the ODA projects.\line \line \'93
Japanese firms will also have many other opportunities to approach the Vietnamese market by becoming contractors in ODA projects,\'94 he said.\line The two governments will established an ODA project anti-corruption c
ommission in charge of building mechanisms to prevent corruption. \line \line Phuc said Vietnam had effectively used ODA funds and the resumption of Japan\rquote 
s ODA for Vietnam is significant in views of pushing up major infrastructure projects in Vietnam, facilitating the full partnership cooperation between the two countries.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\field{\*\fldinst {\insrsid16581983 HYPERLINK "http://www.vir.com.vn/Client/VIR/index.asp?url=content.asp&doc=18164" \\\\l "#" }{\insrsid7164732 {\*\datafield 
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70003f00750072006c003d0063006f006e00740065006e0074002e00610073007000260064006f0063003d00310038003100360034000000795881f43b1d7f48af2c825dc485276300000000a5ab0000ef1000}}}{\fldrslt {\b\f1\fs30\cf13\insrsid16581983 EU hints at FTA with Vietnam}}}{
\f1\fs20\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\cf18\insrsid16581983 10-2-2009 
\par }{\b\f1\fs20\insrsid16581983 The European Union is looking to sign a separate free trade agreement with Vietnam after experiencing a slow progress in negotiating a region-to-region free trade deal with ASEAN.
\par }{\insrsid16581983 
\par \'93Nearly two years into these negotiations [EU-ASEAN FTA negotiations], we now clearly see the limitation of this region-to-region approach. The negotiations have been very slow and we have seen little progress,\'94
 said Philip Meyer, head of the EU negotiation delegates for the EU-ASEAN FTA.\line \line Meyer paid a visit to Vietnam in late January to test local waters on whether the country would be ready to negotiate a bilateral deal with the union. \line \'93
We are now ready to negotiate bilaterally with Vietnam and also some other ASEAN countries who are willing to talk with us [about an FTA],\'94 he said.\line \'93What we need to think now is whether Vietnam is ready to
 open its market at a certain level. We are waiting for a signal [from the Vietnamese side] on whether it is willing to open the economy, to compete and to integrate deeply in the EU market,\'94
 Meyer said. The EU and ASEAN launched the first talk on a region
-to-region free trade deal in May 2007 with high hopes. However, the diversification in the levels of development, interests and priorities among the ASEAN countries are attributed by the EU to the slow progress in negotiation for the deal.\line \line 
Meyer noted that in order for EU countries to get further approaches to the ASEAN regional markets, particularly during global economy hiccups, it was important for them to seek separate FTAs with some individual ASEAN member countries. \'93
The way forward in these difficult times is not to resort to an era of protectionism and trade barriers, but to open up new markets for our businesses,\'94 he said.\line \line 
European Union nations exported more than $7 billion worth of goods to Vietnam last year, accounting for about 9 per cent of Vietnam\rquote 
s total imports. They bought $10.6 billion worth of Vietnamese products in 2008, up 18 per cent against the previous year. Meyer stressed that the union was ready to negotiate an FTA with Vietnam if the offers from the Vietnamese side were not less
 than what the country negotiated with Japan in a free trade agreement signed last December.\line \line \'93
We do not trade only in goods. We need goods and services as well. If our businesses invest in Vietnamese manufacturing, they do need to be assured that those ma
nufacture have accessed good services relating to financial, transportation, advertising and telecommunication,\'94 he said.\line \'93Our investors also want to see a good level of competition. So, the competition law is very important [in Vietnam],\'94
 Meyer said.
\par 
\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs32\cf12\insrsid16581983 PM pledges to further cooperation with UK}{\fs32\cf12\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 Hanoi (VNA) \endash  Prime Minister Nguyen Tan Dzung affirmed that Vietnam will work for a stronger cooperation with the UK for the interests of the two countries\rquote  people.}{
\insrsid16581983  
\par 
\par }\pard \ql \li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 {\f1\fs20\insrsid16581983 PM Dzung made the affirmation at his reception for
 Gareth Thomas, State Minister of the Department for Business, Enterprise and Regulatory Reform of the United Kingdom of Great Britain and North Ireland in Hanoi on January 20.\line \line 
He noted that the effective implementation of the bilateral agreements, particularly those reached during his visit to the UK in 2008, has been contributing to raising bilateral ties to a new height.\line \line The PM appreciated the British government
\rquote s support of Vietnam during the EU\rquote s anti-dumping lawsuit against Vietnamese-made leather shoes.\line \line 
He told his guest that Vietnam has been seriously implementing the roadmap to open its markets in accordance with commitment to the World Trade Organization and create a highly-competitive environment for foreign businesses.\line \line \'93
 Vietnam has made specific results in administrative and tax reforms and in the fight against corruption. It has step by step advanced towards meeting international standards,\'94 PM Dzung said.\line \line 
The UK Minister of State thanked PM Dzung and other Vietnamese leaders for creating favorable conditions for British investors\rquote  business in Vietnam .\line \line 
He said British businesspeople are eager to help transfer technologies to Vietnamese counterparts through projects they implemented in the country.\line \line The UK official expressed his hope that a
s a United Nations Security Council non-permanent member, Vietnam will play an active role at an upcoming international conference on climate change slated for Hanoi in March.\line \line 
He also hoped the Southeast Asian country will work actively in negotiations for the signing of the EU-ASEAN Free Trade Agreement.\line \line 
On the occasion, PM Dzung listened to proposals submitted by representatives of British businesses operating in Vietnam and explained to them national policies regarding foreign investment and business activities in the country.}{\insrsid16581983 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\insrsid16581983 
\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs32\cf12\insrsid16581983 Vietnam, UK discuss measures to boost bilateral relations}{\fs32\cf12\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\b\insrsid16581983 Hanoi (VNA) \endash 
 Vietnam and the UK held the first deputy minister-level political consultation conference in Hanoi on Jan. 13, defining the targets and measures necessary to lift their bilateral ties to a par with the potential and desires of both countries.}{
\insrsid16581983  
\par 
\par }{\f1\fs20\insrsid16581983 Deputy Foreign Minister Nguyen Quoc Cuong and UK Permanent Under-Secretary of State to the Foreign and Commonwealth Office Peter Ricketts co-chaired the meeting.\line \line 
The two sides exchanged their views on the implementation of cooperation agreements and projects in the five prioritised areas of politics-diplomacy, trade-investment, development cooperation, education-training, emigration, and combating organised crime.
\line \line These fields are stated in a joint statement agreed upon by Vietnamese Prime Minister Nguyen Tan Dung and his UK counterpart, Gordon Brown, during the former\rquote s visit to the UK in March 2008.\line \line 
Both host and guest unanimously agreed that the bilateral friendship and multifaceted cooperation have experienced fruitful developments. They also discussed a number of regional and international issues of mutual concern.\line \line 
During his five-day visit, which concludes on Jan. 14, Ricketts worked with Deputy Minister of Public Security Le The Tiem to discuss avenues of cooperation in the areas of emigration and fighting organised crime.\line \line 
During these meetings, the UK contingent pledged to cooperate with Vietnam at international forums, particularly the United Nations, and to maintain the flow of official development assistance (ODA) into Vietnam in the future.\line \line The UK offi
cials voiced their support for UK businesses to increase their investment in Vietnam and to strengthen trade ties with the south-east Asian nation in an effort to increase two-way trade revenue to 4 billion USD and the amount of UK direct investment to 3 
billion USD within the next five years.\line \line 
Vietnam and the UK agreed to further promote cooperation in the fields of education and training, with particular focus on the improvement of English language skills among Vietnamese civilians and the training of doctors for Vietnam \rquote 
s universities.\line \line On this occasion, the two countries signed a memorandum of understanding on cooperation until 2013 between the two Ministries of Foreign Affairs and an agreement regarding mutual legal assistance in criminal matters.\line \line 
During his visit to Vietnam , Ricketts will visit Ho Chi Minh City , the country\rquote s largest southern economic hub.
\par }\pard \qc \li0\ri0\sb192\nowidctlpar\faauto\rin0\lin0\itap0 {\b\fs36\cf12\insrsid16581983 Spain helps HCMC build subway
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 \cbpat8 {\f36\fs17\cf19\insrsid11091156 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11091156 \cbpat8 {\f36\fs17\insrsid11091156\charrsid11091156 Monday, April 06, 2009}{\f36\insrsid11091156\charrsid11091156  
\par }\pard \qj \li0\ri0\sa120\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11091156 {\insrsid11091156 
\par Spain\rquote s Idom Ingernieria Consultoria S.A and the Ho Chi Minh City Urban Railway Managing Board signed a contract to do a feasibility study for construction of two metro lines, No 5 and No 6, in Ho Chi Minh City on April 3}{\super\insrsid11091156 rd
}{\insrsid11091156 . 
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11091156 \cbpat8 {\insrsid11091156 Under a contract signed on Friday by HCMC People\rquote s Committee Deputy Chairman Nguyen Thanh Tai and Spain\rquote 
s Commercial Counselor Alberto Cerdan, Idom Ingenieria will conduct a feasibility study on two of the planned metro routes. The \'801.26 million (US$1.7 million) study into the metro\rquote s fifth 
and sixth routes will take 12 months and is being funded by aid from the Spanish government. 
\par }\pard \qj \li0\ri0\sa120\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11091156 {\insrsid11091156 
The company will do the feasibility study for the metro line No 5 from downtown HCMC to Can Giuoc, and the line No 6 from Ba Queo to Phu Lam, at costs of 718,035 euros and 548,330 euros, respectively, which will be funded by Spain\rquote 
s Financing Assistance Development (FAD). Each project will be carried out within 12 months.
\par The two subway lines are part of a subway network expected to be completed by 2020 in Ho Chi Minh City. The building of the two subway lines is expected to cost US$ 900 million and US$ 320 million, respectively.
\par Under the city\rquote s railway plan, 7 metro lines with a total length of 107km, will be built at an estimated cost of more than US$ 6 billion.
\par }\pard \ql \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0 \cbpat8 {\insrsid16581983 In 2001, the HCMC government announced plans to build a suburban passenger rail system. The six-line metro system will be Vietnam\rquote 
s first commuter rail service when it is completed in 2020. }{\insrsid11091156 
\par }{\insrsid16581983 The HCMC metro\rquote s 20-kilometer fifth route will connect Can Giuoc bus station in District 8 and Thu Thiem Peninsula in District 2 and will be able to transport 352,000 passengers a day.
\par The six-kilometer-long sixth route will start at Ba Queo intersection in Tan Binh District and terminate at Phu Lam crossroad in District 6. It is designed to be able to carry 100,000 people per day.
\par HCMC\rquote s first metro route will connect Ben Thanh Market in downtown HCMC and District 9\rquote s Suoi Tien cultural park. Work is already underway on the 19.7-kilometer-long route.
\par }{\insrsid11091156 
\par 
\par }\pard \qc \li0\ri0\sb100\sa100\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11091156 \cbpat8 {\insrsid11091156 --------      T h e   E n d      --------
\par }\pard \qj \li0\ri0\sb192\nowidctlpar\faauto\rin0\lin0\itap0 {\insrsid16581983 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\insrsid16581983 
\par }{\f1\fs20\insrsid16581983 
\par }}