Vietnam assembly to discuss investment
HANOI - Vietnam's National Assembly will open its spring session on Tuesday and is expected to pass amendments to laws promoting domestic investment and discuss
the impact of Asia's economic crisis on the country.
The assembly was also expected to pass amendments to export and import tax legislation and a bill on citizens rights, Vu Mao, director of the National Assembly Office, told a news conference on Friday.
Mao said delegates would discuss corruption and the appointment of a new state bank governor. Acting governor Do Que Luong has been in the post since October and central bank sources have tipped him for permanent promotion to governor.
Luong took over after the sacking of the previous governor and analysts put the delay in appointing a successor to the politically sensitive post down to a lack of agreement within Vietnam's consensus-driven leadership.
Vietnam's National Assembly, which normally meets twice a year, must approve all
ministerial-level appointments.
It has limited but growing powers and does not include a political opposition. The spring session is expected to last four weeks.
Mao said the assembly, despite dimming economic prospects, would not urge a revision of 1998's economic growth targets.
``We are aware of difficulties in carrying out our tasks for development in 1998, but we will try our best... We think so far it is not the time to adjust these indicators just yet,'' he said.
``The government is aware that we will be faced with a lot of difficulties in 1998.''
Despite the Asian crisis, Vietnam has stood by its target of nine percent growth this year. The International Monetary Fund has predicted the communist nation's growth for 1998 at five percent, down from its 1997 estimate of 7.5 percent.
A National Assembly document given to reporters put economic growth last year at 8.8 percent, and showed a slight revision down from previous government reports of nine percent. Mao also said Vietnam faced problems from drought.
``We predict a difficult and very dangerous situation with the drought. The drought will impact production and the economy,'' he said. A prolonged dry season has already begun to affect key coffee crops and this week the government temporarily banned new rice export contracts to ensure food security. On promoting domestic investment, Mao said the amendments aimed to improve the climate for private and state-owned firms. He said the existing law had weaknesses, but gave no details.
He gave no details on the export/import tax amendments and said the citizens law aimed to create official channels for complaints against, and the denouncement of, government bureaucrats.
By Dean Yates - REUTERS News Sercice, April 17, 1998.
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