Vietnam plenum skips economic integration debate
HANOI - Vietnam's communists leaders have
decided not to debate integration with the world economy and a
stalled U.S. trade agreement at a crucial plenum that opened late
last week, a diplomatic source said on Tuesday.
The source said the issues were initially raised at the plenum but
that the 170-member central committee agreed not to discuss
them. The plenum is expected to close on Thursday.
Financial sources had previously said the two issues would likely
be thrashed out at the plenum, which analysts have said would
be one of the last opportunities Hanoi would get to restore faith
in investors dismayed by red tape and graft.
Hanoi has only said the plenum would focus on the economy,
and it was unclear what prompted leaders not to debate the
sticky topics of integration with the world economy and the
trade deal.
The diplomatic source gave no more details.
Official media on Monday quoted party chief Le Kha Phieu as
saying at the plenum that Vietnam needed ``breakthrough
measures'' to halt an economic slide.
Financial and party sources say top leaders in recent months
have debated the merits of economic integration, which many
cadres realise will erode party control over the economy.
But the party also understands that legitimacy increasingly rests
with economic growth faster than the 4.7-5.0 percent clip it has
forecast for this year, something which requires more investment
and new technology.
Economic growth last year was an estimated 5.8 percent.
Almost unwittingly, financial and party sources say, it was
Hanoi's hesitation in signing the landmark trade deal with the
United States that triggered the economic integration debate.
Ratification of the trade pact, which was agreed in principle last
July, would open Vietnam's economy and liberalise its
investment rules. Those requirements had forced the communist
elite to ask themselves if they were ready to embrace integration,
the sources say.
Official media have also reported that graft has been discussed
at the plenum, along with preparations for the Communist Party's
Ninth Congress in early 2001.
Plenums are normally held every six months to discuss broad
policy issues, although the party releases few details until the
meetings conclude.
Reuters - November 9, 1999.
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