Saturday June 02, 2007
UMESH PANDEY
Bangkok Post
Developed Asean members should assist newer members with economic reforms, says Vietnam's deputy prime minister.
"What we need is the mutual support of members to narrow the development gap between member states," said Pham Gla Khiem.
Vietnam, which is the region's leader in terms of economic and stock-market growth, says it is continuing with economic reforms.
Vietnam's "Doi Moi" (renovation) reform policy - aimed at liberalising the communist economy while maintaining the government's authoritarian grip - has brought rapid economic growth. In 2006, the country grew at 8.2%, and 2007 growth is expected to reach 8.5%.
Mr Khiem says the government will continue with its reforms while maintaining socialist policies.
"What we have right now is an open-market policy that has a socialist face and this is our slogan too," he said. "We need socialist ways in order to care for the under privileged."
Mr Khiem said that these policies ensure that the rural masses benefit from the market economy. Vietnam, he said, would continue to liberalise its rules and regulations. He said that Vietnam is gradually phasing out old laws such as the 49% foreign-ownership restriction, and amending laws to conform to the norms of the World Trade Organisation.
"We need some time to adjust and it could take between five and six years, which we call as transition phase, but once this is done we will be far freer than today," Mr Khiem said.
Vietnam joined Asean in 1995, and attracted $10.2 billion in foreign direct investment in 2006.
"We will create a level playing field for all parties, be it domestic or foreign players, and create favourable conditions foreign direct investment," the deputy prime minister said.
The aim, he said, was to transform Vietnam into a middle-income country in five years and to achieve industrialised status by 2020.
He said that the country's abundant young and educated population would act as the catalyst for growth. Seventy-five percent of the population, he says, is younger than 40 years old and the population is set to grow to 100 million in 10 years from now from the current 85 million.
As part of this process, Mr Khiem said, the country had embarked on a major revamping of its state-owned enterprises, and more than 3,500 companies have undergone management changes to increase efficiency. The country will also privatise some state-owned enterprises over the coming years and hopes to complete the process by 2010.
"When we undertook the Doi Moi reforms, we were in the corner. China had implemented its open-door policy and the East Asian tigers were roaring, what we intended to do was to transform our subsidised economy a free-market economy," he said.
"What we need is the mutual support of members to narrow the development gap between member states," said Pham Gla Khiem.
Vietnam, which is the region's leader in terms of economic and stock-market growth, says it is continuing with economic reforms.
Vietnam's "Doi Moi" (renovation) reform policy - aimed at liberalising the communist economy while maintaining the government's authoritarian grip - has brought rapid economic growth. In 2006, the country grew at 8.2%, and 2007 growth is expected to reach 8.5%.
Mr Khiem says the government will continue with its reforms while maintaining socialist policies.
"What we have right now is an open-market policy that has a socialist face and this is our slogan too," he said. "We need socialist ways in order to care for the under privileged."
Mr Khiem said that these policies ensure that the rural masses benefit from the market economy. Vietnam, he said, would continue to liberalise its rules and regulations. He said that Vietnam is gradually phasing out old laws such as the 49% foreign-ownership restriction, and amending laws to conform to the norms of the World Trade Organisation.
"We need some time to adjust and it could take between five and six years, which we call as transition phase, but once this is done we will be far freer than today," Mr Khiem said.
Vietnam joined Asean in 1995, and attracted $10.2 billion in foreign direct investment in 2006.
"We will create a level playing field for all parties, be it domestic or foreign players, and create favourable conditions foreign direct investment," the deputy prime minister said.
The aim, he said, was to transform Vietnam into a middle-income country in five years and to achieve industrialised status by 2020.
He said that the country's abundant young and educated population would act as the catalyst for growth. Seventy-five percent of the population, he says, is younger than 40 years old and the population is set to grow to 100 million in 10 years from now from the current 85 million.
As part of this process, Mr Khiem said, the country had embarked on a major revamping of its state-owned enterprises, and more than 3,500 companies have undergone management changes to increase efficiency. The country will also privatise some state-owned enterprises over the coming years and hopes to complete the process by 2010.
"When we undertook the Doi Moi reforms, we were in the corner. China had implemented its open-door policy and the East Asian tigers were roaring, what we intended to do was to transform our subsidised economy a free-market economy," he said.
3 comments:
Yes, it will be great to keep
the development gap between
ASEAN nations as low as possible.
Vietnamization strategies and extensionism in Cambodia are implementing through its various hidden and open policies:
1. Don Dien = through sending military and agents to infiltrate inside the Cambodian government. Also send illegal immigrants to assimilate with Cambodian people to expect for ousting or voting in favor in their long run. Vietnam had success with this Don Dien policy of extensionism with Champa, Prey Noror and Khmer Kampuchea Krom.
2. Do Moi = is new innovative policy adopted by HCM to welcome new coming of modernization which this philosophy stresses on economic development. Money is their tool to absorb other territory land. Vietnam can buy, bribe high ranking officials or subsidize provision to local people in order to have their legitimacy as well as domination in that territory/area. Vietnam now is using this Doi Moi extensionism in Lao and Cambodia. Border development and Vietnamese business tycoons in Cambodia are the frontliners for their Doi Moi extensionism. In this Bangkok Post News, Vietnam is stepping its legality to SA for its hidden swallowing of Cambodia of Do Moi.
Nowadays, the kleptocratic family system in Cambodia is a very effective tool for Doi Moi extensionism of Vietnam in Cambodia.
We don't care. We want jobs, jobs,
jobs now, not 100 years from now.
No one will be alive by then. So,
what difference does it make?
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