Vietnam focuses on economic growth, administrative reform, anti-corruption this year

Vietnam is adopting concrete moves to gain gross economic growth of 8.5 percent this year, accelerate administrative reform, and combating corruption more effectively, Vietnamese Deputy Prime Minister Nguyen Sinh Hung said Tuesday.

To perfect the market economy status, Vietnam will this year review existing mechanisms and policies and issue new ones about the development of capital, stock, labor, realty, science and technology markets, and the restructure of state-owned enterprises which is attached to share listing, while no longer fixing prices of cement, steel, fertilizers, paper and coal, excluding coal used to generate electricity, Hung said at the 11th session of the 11th National Assembly of Vietnam, the country's top legislature, which opened Tuesday.

The country, which has recently stopped subsidizing prices of petroleum products, will not subsidize prices of oil in late 2007 or early 2008, he added.

To improve investment efficiency and lure stronger investment, Vietnam will intensify supervision and inspection of state-funded infrastructure projects, and encourage economic sectors to pour money into developing sea economy and infrastructure networks, especially expressways, North-South railways, seaports, airports, and subways in Hanoi capital and southern Ho Chi Minh City.

The country will also "intensify management, forecast and supervision over the operation of the stock market to ensure the sustainable, sound and rapid development of the stock market," he said, noting that it is issuing more documents on guiding the implementation of the Securities Law.

To actively integrate into the global economy, ministries, sectors and enterprises are urged to have thorough understanding about opportunities and challenges posed by Vietnam's accession to the World Trade Organization, while paying due attention to those affected by the integration such as agriculture, rural areas and farmers.

To effectively deal with environmental issues, the Vietnamese government is making detail plans on managing natural resources, and encouraging economic sectors to develop waste reusing, recycling and treating services and apply environment-friendly production and business modes.

In 2007, the government is also instructing the acceleration of administrative reform, especially in the fields of business operation, construction, realty, household registration, taxation and customs, and the rapid dealing with complaints and denouncements, especially those relating to the implementation of infrastructure projects, he said.

Besides, Vietnam is dealing with corruption cases seriously, and creating more favorable conditions for organizations and residents to battle corruption actively.

To prevent corruption, the country is promoting "transparency in land use and management, public asset, state budget spending, infrastructure investment, financial management, equitization of state-owned enterprises, and mobilization and use of people's contributions," the deputy prime minister said.

During the 11th session lasting until April 6, local lawmakers are scheduled to pass two revised laws, consider two bills on amnesty and chemical, and review national socioeconomic performance in 2006.

Source: Xinhua