~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

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Vietnam pledges to continue reforms, fight corruption

HANOI - Vietnam has pledged to strengthen institutional reforms and fight against corruption on the first day of its annual meeting with donor countries and development aid agencies. A day before multilateral and bilateral donors were set to pledge their annual aid envelop to the communist country, Hanoi said it was determined to pursue the reforms that have led to its accession to the World Trade Organisation.

"We would strive for a favourable and transparent policy and institutional environment for the use and management of State capital," Minister of Planning and Investment Vo Hong Phuc told the delegates. "We also commit ourselves to the furtherance of State corporate reform, creating a healthy banking sector, accelerating the administrative reform and fighting corruption."

Vietnam's one-party regime was hit by a major graft scandal early this year in which Transport Ministry officials embezzled millions of dollars, using some of it to bet on international football and to finance lavish lifestyles. The World Bank in April said it would investigate how much of the theft involved foreign funds, but it has yet to release any result. The transport minister was forced to resign and his deputy, along with several other officials, have been detained in the case. "We have continued to fight corruption and will do so in the future in the most thorough manner without any compromise to strengthen the trust and confidence of donors," Phuc said.

Minister of Transport Ho Nghia Dung was expected to present the government's report on the case during the closed-door morning session. In his opening speech, World Bank country director Klaus Rohland praised Vietnam's economic successes in the last 20 years, asking for further acceptance of the market economy principles. The country's development will require "a change in the role of the government, that now longer controls, that now longer owns, but regulates," he said. He also urged the authorities to ensure sustainable growth. "We can say today Vietnam is rising. And we would encourage you to go fast... but we also encourage you to go in a sustainable way when it comes to environment and social cohesion."

Friday, donors are expected to pledge their annual aid envelop that reached a total of 3.7 billion dollars in 2006. Phuc said the country needs 140 billion dollars of investment capital for the 2006-2010 period. It expects a rate of foreign aid disbursement of around 11 billion.

Agence France Presse - December 14, 2006.