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

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Vietnam's National Assembly approves economic reforms

HANOI - The National Assembly approved a smaller cabinet Thursday that is charged with pushing forward reforms in Vietnam's rapidly expanding economy. The chamber elected a new central bank chief and 9 new ministers and reconfirmed 12 for a total of 22 ministries and ministerial-rank agencies, down from the previous 26.

Prime Minister Nguyen Tan Dung, in the text of a speech to be delivered later, vowed that the Communist government would "seriously correct weaknesses and errors" and make improvements. The government "will especially be determined in fighting, preventing and pushing away bureaucracy, corruption and wastefulness," he said. Dung also pledged to cut hunger and poverty while keeping rapid economic expansion going in Vietnam.

The economy of Vietnam, which joined the World Trade Organization in January, grew by more than 8 percent in 2005 and 2006, although the greater prosperity has also raised land and food prices and led to more corruption. The government is aiming for an annual growth rate of 9 percent in the second half of 2007 to reach a target for the full year of 8.5 percent. The assembly elected two new deputy prime ministers, bringing the total to five. Former Industry Minister Hoang Trung Hai was promoted to deputy prime minister, as was Nguyen Thien Nhan, who will also run the Education and Training Ministry, a government statement said. The assembly re-elected three deputy prime ministers, Nguyen Sinh Hung, Pham Gia Khiem and Truong Vinh Trong. Dung was re-elected as prime minister last week to run a government that is expected to be more business-friendly and tougher on graft. Nguyen Van Giau, a southerner who had been a deputy central bank governor, was elected to run the State Bank of Vietnam, the government said.

The new cabinet includes three new ministries covering industry and trade, information and communications, and culture, sports and tourism. The Agriculture Ministry has absorbed the Fisheries Ministry. Last week, the assembly confirmed Nguyen Phu Trong as its chairman and Nguyen Minh Triet as state president.

Reuters - August 2, 2007.