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INTRODUCTIO NTRANSLATION 4 is a basic course book written for the second-year students of the Department of English, College of Foreign Languages, Hue University. It is intended to equip the students with an overview of translating Vietnamese and English economic texts. It also helps the students get familiar with the terms related to economy as well as the typical structures frequently used in economic texts. Since the course book has been written for the students to learn either by themselves or in class with a teacher, there will be a course book and assignments. The course book contains the Vietnamese and English economic texts with notes and suggested translations. The assignments contain the Vietnamese and English economic texts that will be translated into either English or Vietnamese by the students. By the end of the course, the students will be able to: obtain general knowledge of the Vietnamese and English economic documents. get familiar with and effectively use scientific and technological terms and typical structures of economic texts in their translations. accurately translate economic texts into English and Vietnamese.

On the completion of this course book, I would like to express my deep gratitude to Dr. Ton Nu Nhu Huong for her encouragement. I would also like to be grateful to Dr. Tran Van Phuoc and other colleagues of the College of Foreign Languages for their kind help. Errors are unavoidable in this course book. Therefore, I appreciate and welcome any criticism on the course book. Hue, November 14th, 2006 Nguyen Van Tuan

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Chapter 1:Lesson 1:

GENERAL ECONOMIC ISSUES

REFORESTATION AN UPHILL BATTLE IN MOUNTAINOUS TAY NGUYEN

Tay Nguyen- the authorities and people in Tay Nguyen (the Western Highlands) have a battle on their hand to protect and restore forests that have been relentlessly chopped down. Spread over nearly 55,000sq.km, the forests in these regions are the countrys largest. Actually covering 2.93 million ha, it is 230,000 ha less than five years ago. Of the four Tay Nguyen provinces, Dac Lac is the one with the largest wooded area and also the one losing the most canopy each year an average of 40,000 ha. The reason for losing the provinces lung is not hard to find- the inexorable emigration of people to these areas from the rest of the country since 1990. The population growth in these provinces has been a stagering5 to 6 per cent every year. And Dac Lac alone houses 2,200 migrants. With the influx came the usual accompanying problems: pressure on forestland for housing, cultivating and fuel. Another reason has been the creased cultivation of commercial crops like coffee, pepper, and rubber. The total area under these has risen to 567,000 ha- double the 1996 figure. But the government has become aware of the havoc that denudation of the forest cover could wreak. Tay Nguyen is seen as a common roof for the Central and South-eastern areas, but the regions forests is enduring serious damage, illegal wood exploitation remains a headache, and the environment is under great threat, said Prime Minister Han Van Khaki when speaking about the regions development. He exhorted the Taiyo Nguyen provinces to keep a close eye on forest protection and development, and set targets for the next five years to increase the area under forest cover in a bid to ensure sustainable socio-economic development.

3 The provincial authorities too have begun to get their act together. In ADC Lac, for instance, billions of dong has been invested in aforestation activities under Programmes 327 and 661 and the total reforested has reached about 10,000 ha. But the figure is still minuscule when juxtaposed with the more than 200,000 ha that have been felled since 1995. Under the socio- economic development scheme for the 2001-05 period, Tay Nguyens provinces have earmarked over 2.93million ha of existing forest areas for protection while reforesting 500,000 ha, so that the total forest cover would reach 64.3 per cent by 2005, an increase of 10 per cent over the current figure. To reach the goal through, the provinces need to raise awareness among the population, innovate sustainable products and manufacturing methods and improve forest management and protection. The forest plantation and communal forest management departments should be further strengthened while economic sectors and households should be urged to take an active part in protecting and managing forest areas. At the moment some areas in Dac Lac Province have been moving in that direction and local residents have proven willing to protect and develop forest areas to which they are given possession rights.

Notes:- battle : - to be chopped down : - emigration : - commercial crop: - to become aware of : - sustainable : - to be strengthened : trn chin b n, b cht di c nng sn hng ho thc c bn vng c tng cng

Suggested Translation :

TRN G RNG CAC TNH M N NUI T Y I NGUYN AN G LA M T VN KHO KH N.Ty Nguyn-Chnh quyn va ngi dn Ty Nguyn gp kho khn trong vic bao v va tai tao nhng khu rng b cht pha mt cach nghim trong. Vi din tch hn 50.000 km2, nhng khu rng ay la ln nht nc,chim 2,93 ha nay ch con 230.000 ha, thp hn 5 nm trc y.

4 Ly do mt i la phi cua nhng tnh nay khng kho tm ra, o la do s di tru cua nhng ngi dn trong vung n nhng ni khac. K t nm 1999, ty l gia tng dn s cua nhng tnh nay t 5 n 6% mi mm. c Lc co khoang 2200 h dn di tru. Mt s vn khac a nay sinh cung vn nay :ap lc i vi t rng cho vic xy dng nha ca, trng trot va ly g. Mt ly do khac la gia tng vic trng cy kinh t nh : caf,tiu va cao su, tng din tich a tng ln567.000 ha-gp i con s nm 1990. Nhng chnh phu cung a nhn thc c vn tan pha nay se co th con trm trong hn. Ty Nguyn c xem nh mt mai nha chung cho cac tnh min trung va ng nam. Nhng rng y ang b tan pha trm trong, nan khai thac g trai phep vn la mt vn nhc nhi, mi trng di s e doa nghim trong.thu tng chnh phu Phan Vn Khai a noi khi noi chuyn v s phat trin cua nhng tnh nay. Thu tng ku goi cac tnh Tay Nguyn hay xem trong vic bao v va phat trin rng va at ra k hoach cho nm nm ti, e co th tng din tich rng c bao v nhm duy tr c s phat trin kinh t xa hi. Chnh quyn cac tnh cung a hp tac cung nhau. Thc t la, hang ty ng a c Dc Lc u t vao vic trng rng bng cac chng trnh 327 va 661 va tng din tch rng tai tao a ln n khoang10.000 ha. Nhng con s vn con rt nho khi so sanh vi hn 200.000 ha a b pha huy k t nm 1995. Da vao s phat trin kinh t xa hi trong giai oan 20012005,cac tnh Ty Nguyn se ong khung hn 2,93 triu ha din tch rng ang con bao v trong khi tai tao 500. 000 ha rng, tng din tch rng bao phu co th ln ti 64,3% vao nm 2005, tng 10% so vi con s ban u. at c k hoach nay, chnh quyn cac tnh cn phai tng cng nhn thc cho ngi dn,ng thi ng dung nhng phng tin mi nhm cai thin cng tac quan ly va bao v rng. Cng tac trng rng cn phai c quan tm hn. Nghanh kim lm cn tng cng cng tac bao v rng. Cac nghanh kinh t va cac h gia nh cn ong mt vai tro tch cc hn

trong vic quan ly va bao v rng. Hin tai, mt s vung tnh c Lc a va ang i theo hng va nu. Chnh quyn a phng a nng cao nhn thc v vic bao v va phat trin nhng khu rng ma ho a c giao khoan.

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Lesson 2 :

VIETNAM SEEKS ASSISTANCE FOR HIGHLANDS DEVELOPMENTS

Hanoi - Vietnam wishes to exchange experiences and co-operate with other countries in making its mountainous regions prosperous and stable, says Hoang Duc Nghi, Minister and Chairman of the Committee for Ethnic Minorities and Mountainous Affairs. Speaking at the World Mountain Forum held in French cities of Paris and Chambery last week, Nghi said that the Vietnamese Government welcomes the UN declaration of 2002 as the International Year of Mountains. Vietnam is facing difficulties and challenges in checking deforestation and degradation of land resources, and is committed to pursuing areas strategy of protecting natural resources through sustainable exploitation, he said. Nghi met with French and other delegates and discussed measures to heighten cooperation in the development of mountainous regions. The forum adopted a resolution calling on 140 countries having forests and mountains in the world to raise awareness of the important role of mountainous regions, define orientations for sustainable development of the areas in coming years, and increase exchange of experiences and co-operation. The seven-day forum, jointly organized by France, the UN, EU, and the World Bank, wrapped up on Monday. Notes:- stable : - to face : - challenge : - orientation : - sustainable : n nh ng u thch thc nh hng pht trin bn vng

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Suggested Translation :

VI T NAM TM KIM S GIU P CH O VN PHAT TRI N MIN N UITheo ng Hoang c Nghi -Trng ban Dn tc va Min nui,Vit nam mong mun c trao i kinh nghim va hp tac vi cac nc ban nhm tao s phat trin thnh vng va vng chc min nui. Phat biu tai din an th gii v min nui t chc thanh ph Pa-ri va Chm-b-ri cua Phap tun va qua, ng Nghi noi rng Chnh phu Vit Nam rt hoan nghnh cng b cua Lin Hip Quc coi nm 2002 la nm Th gii v min nui. ng Nghi cung nhn manh thm, Vit nam ang i mt vi nhiu kho khn va th thach nh nan pha rng ba bai, tnh trang thoai hoa tai nguyn t, cung nh vic kin tr trong chin lc va khai thac mt cach hp ly cac ngun tai nguyn thin nhin. Cung trong chuyn i nay, ng Nghi a gp va thao lun vi phai oan Phap va cac phai oan khac nhm tm ra giai phap tng cng hp tac vi nhau v s phat trin chung cua min nui. Hi thao a thng rng nui cn nhn ng thi nh ro cng trao i kinh nhng nm ti. nht ku goi 140 nc trn th gii co thc ro vai tro quan trong cua min nui, hng phat trin cung nh vic tng nghim va hp tac gia cac nc trong

Phap, Lin Hip Quc, khi Cng ng Chu u va ngn hang th gii ng t chc hi thao din ra trong 7 ngay va kt thuc vao th Hai.

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Lesson 3 :

ADB ASSISTANCE TO HELP FIGHT POVERTY, CREATE MORE JOBS

Hanoi - Continued assistance from the Asian Development Bank will play an important role in poverty alleviation, especially in creating more employment, says Deputy Prime Minister Nguyen Tan Dung. Receiving visiting ADB executive director Jeung-Hyun Yoon in Hanoi yesterday, Dung lauded the valuable assistance that the Manila-based bank has rendered to the natio n s economic reforms, rural development, human resource development and environmental protection. The ADB has pledged loans worth US$2 billion since 1993 for 29 projects and preferential loan programmes, of which $76 million is non-refundable, he noted. Dung expressed his hope that the ADB will continue offering effective assistance for the countrys reform programmes including the ongoing restructuring of State-owned enterprises and renovation of the financial and banking sectors. The ADB official said he was delighted to be visiting Vietnam at a time when its economy was registering strong improvements. He briefed the Deputy Prime Minister on the results of his one- week visit, saying it aimed to strengthen co-operation in lending and borrowing operations through exchange of information and assessment of the ban k s operations in the country. Yoon also expressed his desire to see further development in Vietnam-ADB relations and pledged to co-ordinate more actively among sponsors in finding investment on preferential terms.

Notes:- the Asian Development Bank : - play an important role : - poverty alleviation : - executive director : - human resource development : - preferential loan programmes : -- effective assistance : - reform program: Ngn hng Pht trin Chu ng mt vai tr quan trng xo i gim ngho gim c iu hnh pht trin ngun nhn lc chng trnh cho vay u i s gip c hiu qu chng trnh ci cch

8 - State-owned enterprise : doanh nghip nh nc

Suggested Translation :

S TR GIUP CUA A DB SE GIU P CHNG OI NGHEO VA TAO THM VIC LAMTrong bui tip Giam c iu hanh Ngn hang phat trin Chu A (ADB) Jeung-Hyun Yoon ngay hm qua tai Ha Ni, Pho Thu Tng nc ta Nguyn Tn Dung a phat biu rng s tip tuc tr giup cua ADB se ong mt vai tro quan trong trong vic xoa oi giam ngheo, c bit la tao thm nhiu cng n vic lam. Pho Thu Tng cung cam n s giup quy bau cua ADB co tru s tai Manila, Phi-lip-pin trong cai cach kinh t, phat trin nng thn, phat trin ngun lc con ngi va bao v mi trng. Ngn hang phat trin Chu A a ha cho Vit Nam vay khoan vay tr gia 2 t la My t nm 1993 cho 29 d an va cac chng trnh vay u ai trong o co 76 triu la khng hoan lai. Pho Thu Tng Nguyn Tn Dung bay to hy vong rng ADB se tip tuc tr giup mt cach co hiu qua cho cac chng trnh cai cach t nc bao gm vic cai t cac x nghip quc doanh ang din ra va i mi cac chi nhanh tai chnh va ngn hang. ng Jeung-Hyun Yoon a phat biu noi ln nim vui c n thm Vit Nam vao thi im ma nn kinh t Vit Nam a va ang at c nhng tin b manh me. ng cung bao cao vi Pho Thu Tng kt qua cua mt tun ving thm Vit Nam cua ng va nhn manh rng o la nhm tng cng hp tac trong lnh vc vay va cho vay thng qua vic trao i thng tin va anh gia v hoat ng cua cac ngn hang Vit Nam. ng Yoon bay to mong c rng mi quan h gia Vit Nam va Ngn hang phat trin Chu A se phat trin hn na va ha se hp tac tch cc hn vi cac nha tai tr trong vic tm kim ngun u t vao cac lnh vc u tin.

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Lesson 4 :

POLITICAL AND ADMINISTRATIVE STRUCTURE

Viet Nam is a socialist republic furnished with a constitution since 1980 and based on a tripartite political structure: the Communist Party of Vietnam, the people and the State. A characteristic feature is the very important place occupied by the Party, which waged the liberation struggles leading to the independence of North Viet Nam in 1954 and then to the reunification of the country in 1975. The Party, whose best known bodies are the Political Bureau, the Secretariat, the Central Committee and the Congress, conducts the affairs of the country. It draws up the lists of candidates for general elections from which delegates to the National Assembly are chosen; the Assembly in turn elects the members of the Council of Ministers which appoints ministers to head the ministries. The party provides the leaders of the very active mass organizations which form the front for the Fatherland and cover all sections of the population: labour, trade unions, Association of Collective Farmers, Union of Women, Union of Youth, Union of Intellectuals, Union of Catholics, and Union of Buddhists. The administrative matters are carried out in four-tiered structure from the central level, down through the 44 provinces, and the 519 districts to the 9,807 communes at the grassroots level.

PlanningViet Nam's overall planning system is centralized, but there is flexibility in development planning, investment programming, budgeting, implementation, monitoring and evaluation of sectoral projects. At central level, development policies are determined by the State Council and Council of Ministers with the State Planning Commission providing technical guidance. The State Planning Commission (SPC), as the technical arm of the Council of Ministers, plays the leading role in national planning, investment programming, budget allocation and monitoring of socio-economic development trends and sectoral performance. It coordinates plans for donor assistance and identifies priority programmes for intervention, in collaboration with the line ministries, Ministry of Foreign Affai rs, State Committee for Foreign Investment and Cooperation, State Committee for Science, Committee on Aid Reception and the People's Committees. The SPC formulates mid-term and annual investment plans and prepares the relevant budgets for approval by the Council of Ministers. CERFC, the aid co-ordination committee, works closely with SPC to identify government policies, plans and priorities.

1 0 The General Statistics Office (GSO), also under the Council of Minister is responsible for coordinating population censuses as well as the collection of statistics on socio -economic development and the situation of children and women. The GSO provides information and data support to the SPC for planning and programming purposes.

Decentralized development and planningUnder recent reforms, planning has been decentralized giving the sectoral implementing ministries and peoples' committees at provincial, district and commune level, the freedom to define their priorities and plans, subject to centrally-issued guidelines. In line with this policy, sectoral planning units were established in the Social Sector ministries. Furthermore, almost all the provinces and districts have established planning units which provide planning and technical support to the Peoples Committees. The local government units are authorized to utilize locally generated revenues and income to finance and implement their planned programmes without relying on central government resources. This initiative can lead to greater participation of the local government units in the delivery of basic services for children and women. The area based development model can be applied to accelerate basic services and enhance capacity in local planning, monitoring and evaluation. At the same time, community interventions which would improve the living condition of women and their families such as low cost appropriate technology, income generation, growth monitoring, etc., can be piloted in specific provinces or districts. However, the professional staff manning the planning units need to be trained to widen their skills in management, planning and monitoring activities. Notes: - political structure : - to be furnished with : - liberation : - reunification : - Political Bureau : - Central Committee : Th Trung ng - general election : - National Assembly : - Council of Ministers : - the Front for the Fatherland : - Association of Collective Farmers : - to be centralized : - State Planning Commission : th ch chnh tr c trang b s gii phng s thng nht B Chnh Tr U Ban Trung ng, Ban B

tng tuyn c Quc Hi Hi ng B Trng Mt Trn T Quc Hi Nng Dn Tp Th tp trung U Ban K Hoch Nh Nc

1 1 - budget allocation : - priority programme : - in collaboration with : - State Commitee for Science : - Committee on Aid Reception : - The General Statistics Office : - locally generated revenue : - to be challenged : - data deficiency : vic phn b ngn sch chng trnh u tin c lin quan n U Ban Khoa Hc Nh Nc Ban Tip Nhn Vin Tr Cc Thng K ngn sch a phng b th thch, b thch thc thiu ht s liu

Lesson 5 :

THE ECONOMY, AGRICULTURE & FOOD PRODUCTION

The Vietnamese economy is challenged by a number of development issues including population growth, employment and wage levels, balance of payment deficits and inflation. However, analysis of economic development in Viet Nam is constrained by the lack of official statistics. Many are out of date by the time they are published. An attempt to remedy this data deficiency has been under way for some time, and has recently resulted in the publication of preliminary census estimates in April 1990. The State Planning Commi ssion and General Statistics Office in collaboration with the relevant ministries have been trying to update the socio-economic data related to the development of the vulnerable groups and the country's economic situation in general.

Trends in economic development and policy reformsThe economic and social development of Viet Nam has to be viewed in the context of the long period of war which has caused great damage to people's lives and property as well as to public facilities and resources. The war cons equences and subsequent period of recon- struction full of diff iculties has clearly been an overriding constraint to the development of children and other vulnerable groups. In the transition period after reunification, the nation en deavoured to develop with its own limited resources. An agricultural collective programme was set up throughout the country. Private trade and commerce were terminated and taken over by government -run entities. Collective small handicrafts programmes were introduced. In th e manufacturing sector, strong emphasis was put on the development of heavy industries. However, the country's

12 economy did not prosper. Food shortages, coupled with deficient basic services were felt nation-wide. Children and mothers bore the consequences and the malnutrition prevalence was high. Despite attempts at economic reform in the early 1980s, Vietnam continued to buy agricultural products abroad as the agricultural sector production declined. The few consumer goods produced in the country were not sufficient to meet requirements as the manufacturing sector was inefficient and constrained by inadequate infrastructure. Government revenues dried up, eroding the State's ability to subsidize staples and the provision of basic services to the public. The Government was forced to issue more banknotes, augmenting money supply. The result was high inflation which in turn caused the economy to deteriorate further. In December 1986, the Sixth Party Congress convened and set in motion a new policy advocating "Doi moi", or renovation of the domestic economy. A five -year development plan (1986-1990) was adopted with three major priorities, namely: to increase agricultural production and attain self-sufficiency in food; to increase the availability and production of consumer goods and to increase exports. These core economic reforms were addressed comprehensively at different levels of production, processing, distribution and consumption. A new investment law was passed to attract foreign investment. The economic liberalization programme represented an attempt to solve constraints on a broad range of fronts, and was accompanied by changes in various areas of country's social life. The policy changes had some stimulating effects on produc tion. In the farm sector, the weather happened to be favourable in 1989, enabling grain production to recover, while the manufacturing sector was on the mend. Industrial policy encouraged the development of small industries while the agriculture sector remains a priority. The multiple pricing system was gradually done away with, in favour of a single market price. Trade in other products has been liberalized. The economic situation improved to some extent in 1989. Inflation cooled substantially (see figure 11.1), although the com modity retail price increase rate was still around 3-4 percent a month. Rice export earnings partly solved the foreign exchange crisis and food shortages were reduced. Domestic trade and commerce activities speeded up. In certain sector foreign investment operations in the country started. Priority has been given to foreign investment projects which will benefit the three major areas of development as well as improve the infrastructure and institutional development.Notes:

- wage level : - out of date : - relevant ministry : - socio-economic data :

mc lng li thi b c lin quan s liu v kinh t x hi

1 3 - to cause damage to : - context of war : - transition period : - to be taken over : - manufacturing sector : - food shortage : - malnutrition : - economic reform : - consumer goods : - to subsidize : - to issue : - Congress : - self-sufficiency : - core : - to attract : - multiple pricing system : gy thit hi hon cnh chin tranh thi k qu c tip qun b phn sn xut s thiu ht lng thc suy dinh dng ci cch kinh t hng tiu dng bao cp pht hnh i Hi t cung t cp ch yu, quan trng thu ht h thng nhiu gi

Lesson 6 :

ECONOMIC STRUCTURE

Gross Material Product (GMP)An important feature in the development of the Vietnamese economy has been the changing ratio of state and private ownership. Between 1976 and 1987, the state and co -operative sector's share in the GMP rose from 58.9 to 75.0 per cent. This expansion was mainly due to the drive for collectivization in the South. As a result, the private sector share fell from 41 to 25 per cent during the period. With the new economic policy on greater participation of th e private sector, particularly in manufacturing, trade and transport, the private sector share rose to 28 percent and the state and co-operative contribution declined from 75 to 72 per cent in 1988.

Gross Domestic Product (GDP)The GDP average growth rate was 3.4 per cent from 1984 to 1988. In 1989 with the economic reforms, plus surplus food production and a slight increase of output in industry, trade and commerce, a more positive economic growth of 5.7 per cent was attained. It is expected to reach 8 per cent in 1990. Per capita income is still low, having increased from US$1 14.00 in 1985 to approximately US$150200 in 1989.

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The 1988 GDP sectoral shares were agriculture 39.2 percent, industry 27.4 per cent, commerce 11.8 per cent, transportation and communication and construction 2.0 per cent each and other services 11.0 per cent. Under the economic reform process, agricultural sector development is the main core of the programme. It provides a livelihood for two thirds of the total labour force, an d accounts for 30 per cent of export earnings. Official data indicates that 53 per cent of agriculture output is produced by individual farmers, 45 per cent by co -operatives, and 2 per cent by state farms. Industrial output is produced by state enterprises (more than 50 per cent), co-operatives (more than 25 per cent) and by individuals (16 percent). There are 700 state enterprises, engaged mainly in heavy industry. The provincial and district authorities control 2,300 light industries. Co-operatives are dominant in small scale industries and individuals in handicrafts. Overall industrial output grew at an average annual rate of 10 per cent between 1984 and 1988, but heavy industry only recorded a 6 per cent annual rise, reflecting mixed development initiatives. Light industry increased over 10 per cent annually with high production rates of tea, salt, sugar, porcelain, and some export goods. However, some locally produced goods (i.e. beer, matches, and cigarettes) could hardly compete with imports which increased following the reduction in bordertensions and the introduction of more liberal trading policies. Vietnam is endowed with rich sources of energy, the major ones being the Quang Ninh coal mine area, off-shore oil and gas fields in the south. In add ition, the Mekong and Red rivers have high potential for hydro-electric development. At present hydro -electric power accounts for 25.7 per cent of the total power generated in the country (1988), and it has now increased with the development of the Hoa Bi nh hydro-electric power plant which provides rural electricity. The forest resources need to be developed and studied as they could be a good source of energy in the future. Firewood currently constitutes the main source of fuel for households in rural areas. Coal production is around 6-7 million tons per year and has been growing gradually during the decade. The average yearly production of electricity was almost 7 million KWh., 66 per cent thermo -electric. The per capita energy consumption is fairly low at 109.1 KWh of electricity and 108.3 kilo grammes of coal (1988 figures). The transport, communication and construction share in GDP has been insignificant. This is a reflection of the low investment and monopoly by the state enterprises and cooperatives. Under utilization of roads, railways, airports and harbours is also due to poor maintenance and management.

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Commerce accounts for about 12 per cent of GDP, with 60 per cent coming from sales of agricultural products, the remainder being industrial and h andicraft goods. In 1987 one quarter of retail sales were estimated to be through the free market.

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Notes:- private ownership : - Gross Domestic Product : - per capita : - commerce : - to compete with : - to be endowed with : - potential : - thermo-electric : - monopoly : - retail sale : quyn s hu t nhn Tng sn phm quc ni tnh theo u ngi thng mi cnh tranh vi c u i tim nng nhit in c quyn bn l

Lesson 7 :

INVESTMENT

As the economy declined from 1984 to 1987, investment activities were greatly affected. Total public investment declined from 12.7 per cent of GDP in 1984 to 5.1 per cent in 1989. This reduction was partly caused by the government budgetary deficits and the desire to further trim down the budget to reduce hyperinflation. In addition, foreign investment entering the country was almost nil. However, with the economic reforms, the situation started to improve from 1989 onwards.

Foreign AidThe past development of Viet Nam has to some extent relied on assistance provided by bilateral, multilateral and NGO donors. During 1987, development assistance totalled US$148.3 million. The funds sources were : bilateral agencies (63 per cent) with the German Democratic Republic, Finland and Sweden as the biggest donors; multilateral agencies (31 per cent) with UNDP, WFP and UNICEF playing leading roles; and NGOs (6 per cent). Out of the total aid, 13 per cent went to health, 9 per cent to education, 26 per cent to population planning, 14 per cent to humanitarian assistance, 4 per cent to science and technology and 2 per cent for social welfare. The remainder was utilized for agriculture, natural resources, industry, transport and communication.

1 7 In 1988, 72 per cent of the total labour force was working in the agricultural sector, 90 per cent of them in co-operatives. The state sector (Government and state enterprises) employed 4.3 mill ion people (15 per cent of the total labour force). The central government had about 330,000 staff on its payroll, while local government services absorbed over 1.2 million. The private sector employed 3.6 million people or 12.5 per cent of the national labour force. In the 1980s Vietnam sent 220,000 workers overseas, 210,000 to socialist countri es, and 10,000 to Africa and the Middle East. These numbers are expected to substantially decline due to recent changes in Eastern Europe, thus increasing further the unemployment problems. Wage trends and policies: In the past, the incomes of civil servan ts and state enterprises employees included subsidized prices for rationed goods, subsidised housing, health, transportation and use of otherpublic utilities. Individual contributions for pensions and social security were minimal, as most of these expenses were financed from the national budget. In January 1989, the Government implemented a comprehen sive restructuring of the wages of government workers with a consolidation of consumer subsidies into the nominal wage structure. Though the minimum wage increased from 5,497 dong to 22,500 dong per month (equivalent US$5.35), real salaries have declined substantially as a result of high inflation between 1985-1988.

PricingIn 1981, the Government introduced a number of measures to bring the administrativ e prices in the North closer to the free market prices. During 1985, another price reform was initiated to reduce price distortions and do away with subsidies at all levels of the economy. The system of differentiated consumer prices was abolished, but the rationing system for essential consumer goods (rice, sugar, kerosene, soap, fish sauce, and pork) was retained. The effect was a ten fold increase in the price of rice between 1987 and 1990. The current price of rice is 800-1,000 dongs per kilogramme depending on quality. However, social benefit items such as electricity, water, house rent, medicines and paper are still subsidized by the Government. Currently the pricing of agricultural and industrial goods fairly reflects actual market prices.

Inflation rateBetween 1985 and 1988, the average annual inflation rate was almost 300 per cent. In 1986 it reached 487 per cent. The effect of government fiscal monetary reform was to bring down the monthly inflation rate to an average of 14.5 per cent in 1988 and only 2.3 per cent in 1989

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Fiscal developmentGovernment revenues generated from all sources are inadequate to support the recurrent and capital expenditures for development. Although the Government has introduced several economic, fiscal and monetary measures, it cannot move ahead with its plans because of the limited finance available. In 1984, the budget deficit amounted to 18 per cent of total expenditure in 1984 and 42 per cent in 1989. To resolve the situation and carry out the planned expenditures, financial assistance was obtained through foreign loans and grants, state banks and bonds. A decade before 1988, the impact of the banking system on macro -economic management and development was minimal. To encourage the system to play a more construct ive role, the Government introduced new measures including; re-organization of the banking system; introduction of restrictive credit policies; a new inter est rate policy; and the liberalized trading of gold in the market. Under the pressures of a high domestic imbalance, overvalued currency, and budget deficits, the balance of payments eroded continuously between 1984 and 1988. During 1988, the outstanding external debt reached US$9,703 million. Of this total, 67 per cent was in non-convertible currencies, 33 per cent in convertible currencies. More than 20 per cent of the external debt in non-convertible currencies, and 61 per cent in the convert ible currencies, is in arrears.

Notes:- budgetary deficit : - multilateral : - bilateral : - social welfare : - comprehensive : - administrative price : - to be abolished : - to be initiated : - annual inflation rate : - revenue : - foreign loans and grants : nc ngoi - fiscal : - macro-economic management : - restrictive credit policy : - under the pressure : s thm ht ngn sch a phng song phng phc li x hi ton din gi c do nh nc qun l b bi b c khi xng t l lm pht hng nm ngun thu cc khon vay v vin tr

thuc v ti chnh s qun l kinh t v m chnh sch tn dng hn nh di p lc

1 9 - domestic imbalance : - interest rate policy : - non-convertible : chuyn i s mt cn i trong nc chnh sch v li sut khng th

Lesson 8:Economic role of agriculture

AGRICULTURE

The agricultural sector accounted for 38 per cent of the country's total output value, 49 per cent of national income and 42 per cent of total exports in 1987. In 1989 agricultural exports included food as well as industrial crops.That year, Vietnam held third place on the world rice export market with 10-15 per cent of the total. The agricultural exports enable the delta to procure inputs (fertilizers, pesticides, etc.) in order to maintain and increase yield and be competitive on the international market.

Agricultural Food Production SystemsFood is produced in Viet Nam by three different, but complementary farming systems: the state, the collective and the family. The state farms are mainly involved in cash crop production and the development of new technologies. The collective farms are responsible for national foodstuff production, particularly paddy. Families farm plots of land (from 300 to 1,000 square metres, depending on the region) around the house, growing a variety of grains, fruits and vegetables and raising livestock and fish. In 1983, the Government began encouraging distribution of land to individual farm families for production under a contract system and the December 1986 Party Congress confirmed the importance of family farming for food selfsufficiency. Family farming is now recognized as the main basis for development. Families are free to sell more of their produce at negotiated or market prices and they have become the main source of livestock, fish, fruit and vegetables. The co-operatives have started to allocate larger plots of land to families. However, the co-operatives remain the focal points for distribution of inputs and services, and the collection of taxes and fees. It is generally admitted that these new initiatives have been an incentive to food production and the appearance of more food in the markets.

Land useAbout a fifth of Viet Nam's total land area of some 33 million hectares is arable: of this only 20 percent is now cultivated. About four fifths of the land cultivated is devoted to rice paddy, particularly in the delta areas. However, yields are low: two thirds of the Mekong delta produce only one crop a year. Half of the cultivated land lies in the long and narrow coastal strip and the highland. This region, which covers 89 per cent of the country's total land area and contains 58 per cent of the population, has great potential for further agricultural expansion but investment costs would be high as the infrastructure is currently weak.

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Production and YieldsRice represents 86-88 per cent of the total food crop production. From 1976 to 1989, the per hectare paddy yield increased from 2.2 tons to 3.2 tons, which is similar to the average yield of other Asian developing countries. The other food crops (maize, cassava, Irish and sweet potatoes, soybeans, groundnuts and other staple foods) have yielded an average of two tons per hectare since 1984. The main constraints to improvements in crop yield are the lack of fertilizers (currently the lowest in Asia), insufficient pesticides due to a shortage of foreign exchange; problems with the seed multiplication system; inequities in the geographical distribution of agricultural supplies (the North is highly privileged and the central areas deprived); lack of spare parts and poor maintenance of farm equipment; inappropriate machinery for family farm use.

ProductionFrom 1976 to 1989, total food production increased to 7.9 million tons. The food production increase from 1976 to 1981 was due to an extension of the cultivated paddy area, but from 1981 to 1989 it was due to an improvement in the rice yield. At the same time, the area of cultivation of other food crops has not increased significantly. It appears that the food policy in V iet Nam has emphasized paddy, while rather neglecting support for other food crops so their production growth has been irregular. This irregularity is an element of food insecurity and an indicator of structural difficulties in managing production factors. Vietnamese agriculture is thus becoming virtually a rice monoculture creating a monotonous and high starch diet for the population and aggravating the potential risks of natural disasters and pest hazards. Half of the cultivated land lies in the long and narrow coastal strip and the highland. This region, which covers 89 per cent of the country's total land area and contains 58 percent of the population, has great potential for further agricultural expansion but investment costs would be high as the infrastructure is currently weak.

Geographical variations in food productionFood production varies from one province to the next. The Mekong delta is a grain surplus area, while the Red River delta and central regions are traditionally grain deficient. The production of roots and tubers tends to be concentrated in the northern, central and coastal provinces (cassava and sweet potatoes) and in some provinces of the Red River delta (Irish potatoes).

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Food availabilityThe per capita food availability figure is a theoretical measurement of food supply, calculated by dividing the total food produced by the number of inhabitants. In Viet Nam the figure is given in terms of rice paddy and all secondary food crops such as maize, cassava, potatoes, sesame, soybeans and groundnuts are given an equivalent value. Pulses and oilseeds are not included, but nor is any allowance made for post-harvest losses, seeds or milling so the figure may be slightly overestimated. A theoretical food availability of 300 kilogrammes of paddy per year can be roughly estimated at 1,600 calories per person per day. However, according to food consumption surveys, basic foodstuffs represent 85 percent of the total calorie intake, so the food availability of 300 kilogrammes gives a potential 1,840 calories per person per day. But this is still 260 calories below the accepted requirement, so the country can hardly be termed self-sufficient until the food availability figure reaches 340 kilogrammes of paddy per person per year. Moreover, the national average value does not take regional variations into account. These are particularly significant in Viet Nam where the distribution and transportation infrastructure is weak. From 1983 to 1986, the food availability was around 300 kilogrammes paddy. In 1987, food production decreased due to typhoons, floods and rice pests and there were estimated to be only 280 kilogrammes paddy-equivalent/per year per inhabitant, covering only 82 per cent of the energy requirement. The central provinces experienced severe shortages that year. In 1988, the harvest was much better, so production reached 307 kilogrammes paddy per inhabitant. In 1989, growth was maintained, surpassing the population growth rate for the first time. The food availability figure was given as 310 kilogrammes. It would have been 332 kilogrammes if the 1.4 millions of rice had not been exported. The spectacular progress in 1988 and 1989 was due to increases in the paddy yield. Indeed with great dependency on rice, the Vietnamese diet has become more and more monotonous and unbalanced. Thus the quantitative and qualitative insufficiency of the food production is a basic factor of malnutrition in Vietnam.

Inter household distribution of energy intakeA survey undertaken by the National Institute of Nutrition of 1,251 households, showed that 9 percent were experiencing starvation (below 1,500 calories per person per day), 15 per cent suffered from food shortages (1,500-1,800 calories per person per day), and 23 per cent were in a more or less satisfactory situation (1,800-2,100 kcal) and 54 per cent had over 2,100 kcal/day, considered satisfactory. The energy availability distribution varies widely from one region to another. The central region experiences serious food shortages with 34 per cent of the households in the northern central provinces and 20 percent in the south central province consuming less than 1,800 calories per person per day. This is where the food situation requires urgent intervention.

2 3 There are also seasonal variations in food consumption. Just before the rice harvest calories intake decreases by up to 15 per cent. Given the very low normal intakes, even a slight decrease can lead to starvation as happened during the bad harvest year of 1987. An additional factor causing temporary food shortages is the weather : the central provinces, particularly, often suffer from floods and typhoons which destroy harvests and food stores.

National and regional food consumption patternsRice is the main staple food in all regions of Viet Nam. Other staples are little consumed. The quantity of pulses and oilseeds (sesame) in a meal is very low. The consumption of milk, eggs, sugar and fruit is also low nationwide. An average of only 18 grammes of meat per day is consumed. Vietnamese, especially those living in the southern central and Mekong delta provinces, derive more protein from fish and sea products. Vegetable consumption is sufficient overall, but with important regional variations; twice as many are consumed in the northern mountains as in the Mekong Delta. The Vietnamese diet contains very little fat; the lipid intake is believed said to be one of the lowest in the world.

Notes:- to account for : - output : - industrial crop : - to be involved in : lin quan n - cash crop : - contract system : - plot of land : - It is admitted that : nhn rng - to be cultivated : - one crop a year : - coastal strip : - expansion : trin - paddy yield : - cassava : - sweet potato : - seed multiplication system : ging - spare part : - maintenance : chim nng sut, u ra cy cng nghip dnh lu n, c

nng sn hng ho ch khon tha t ngi ta tha

c canh tc sn xut 1 nm 1 v vng t duyn hi s m rng/s pht nng sut la cy sn ( m) khoai lang h thng/c s nhn ph tng bo dng/bo tr

2 4 - extension : - to emphasize : - food crop : - rice monoculture : s m rng ch trng cy lng thc c canh cy la

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Lesson 9:

S N NH V PHT TRIN KINH T TRONG NHNG NM QUA

1. B Nng nghip v Pht trin Nng thn

yu cu tt c cc u ban nhn dn tnh v thnh ph cng cc b lin quan duy tr vic phng dch nghim ngt. Cc a phng c yu cu qun l cht gia sc nhim bnh v cm bun bn vn chuyn gia sc b bnh. Vic tiu hu gia sc b bnh c thc hin theo cc qui nh ca c quan y t. ng tin rng vic tim phng ng mt vai tr quan trng trong vic bng pht bnh l mm long mng Vit Nam trong tng lai.

Notes:

- B Nng nghip v Pht trin Nng thn : The Ministry of Agriculture and Rural Development - u ban nhn dn tnh: provincial people committee s - duy tr: maintain - phng dch nghim ngt: strict prevention of the epidemic - gia sc nhim bnh: infected domestic animal/livestock - cm: ban/prohibit/forbid - bun bn vn chuyn: trade and movement - Vic tiu hu: culling - vic tim phng: vaccination - bng pht bnh l mm long mng: foot-and-mouth outbreak 2. Nm 2005, doanh thu thng mi ca in t Samsung t 233 triu USD. Nhng n nm 2006, c tnh con s ny l 335 triu USD. Vi phng chm chm nhng chc, mt d n lin doanh mang tn Savina (Samsung Vietnam) hnh thnh v bt u hot ng vi tng s vn u t l 78 triu USD. Samsung huy ng vn l 300 triu USD nhiu lnh vc nh in t, si tng hp, nh cho thu. Cn nhng d n khc thuc cc lnh vc nh cng nghip nng, cng nghip ch bin v xy dng th vn ang l nghin cu kh thi. Hin nay, Samsung l nh ti tr ln Vitnam. Ngoi vic ti tr cho nhiu gii v ch th thao qui m ln-nh, Samsung cp 1,2 triu USD cho cc chng trnh hc ngoi ng v hun luyn th dc.

Notes:

- doanh thu thng mi: - t: - c tnh: - con s: - phng chm: - d n lin doanh : - hnh thnh: - s vn u t : - si tng hp: - cng nghip ch bin : - nghin cu kh thi:

turnover/revenue/trade returns reach/achieve estimate figure motto/slogan joint venture project come into being/existence investment capital synthetic fibre processin industry feasibility study

2 6 - nh ti tr: sponsor - gii v ch th thao: sports championship 3. Ngnh sn xut pht trin ng k trong thi k ti thit nn kinh t ca Philippines sau Chin tranh Th gii th II. Vic kim sot hng ho nhp khu ca chnh ph thc y s pht trin ngnh cng nghip nh sn xut cc mt hng tiu dng cho th trng trong nc. Vo nhng nm 70, chnh ph xy dng bn c khu kinh t nhm tng cng sn xut hng ho xut khu. Cc ngnh cng nghip trong cc khu ch xut ny c khuyn khch sn xut cc mt hng xut khu truyn thng. Nhng c khu kinh t ny thu ht vn u t ca nc ngoi vo Philippines mt phn nh vo chnh sch min thu cho cc doanh nghip c vn u t nc ngoi. Xy dng thnh cng nhng c khu kinh t ny to tin cho s ra i cc khu cng nghip c qui m ln hn. Chng hn nh, cn c hi qun Subic Bay ca M trc y nay tr thnh mt khu thng mi-cng nghip khng l Manila. Mt khu cng nghip- thng mi ln vi c s h tng hin i v c min thu thu ht cc ngnh cng nghip sn xut hng xut khu v u t nc ngoi.

Notes:

- ti thit nn kinh t : - thi k sau Chin tranh Th gii th II: - vic kim sot hng nhp khu: - thc y s pht trin : - hng tiu dng: - th trng trong nc: - c khu kinh t : - khu ch xut: - cn c hi qun: - c s h tng: - c min thu:

reconstruction economy during the post-World War II ontrols on imports speed up/promote development consumer goods domestic/local market special economic zone export-processing zone naval base infra-structure/facilities receive tax exemption

4. Vit Nam n lc duy tr s n nh chnh tr x hi, pht trin kinh t v quan h ngoi giao trong nhng nm gn y. Nhng thay i tch cc ca lut php nh hng khng nh n tnh hnh sn xut, ti chnh v thng mi. Nh nng nghip thch ng vi th trng t do nn Vit Nam c xp l nc xut khu go ln th hai trn th gii sau Thi Lan. Ti Thnh ph H Ch Minh v vng ph cn nhng hot ng dch v v sn xut pht trin v thay i nhanh chng. Kinh t pht trin mnh mt phn nh vo ngun u t vn v cng ngh ca gn 2 triu Vit Kiu cc nc trn th gii. a s h quay tr v Vit Nam u t v lin lc vi b con.

Notes:

- n lc: - s n nh chnh tr x hi: - pht trin kinh t v quan h ngoi giao: - thay i tch cc: - thch ng: - c xp: - vng ph cn: - hot ng dch v v sn xut:

make every effort/try hard/seek (to do something) socio-politic stability/control develop economic and diplomatic establishment positive change respond to/ be adapted to rank in the neighbourhood/vicinity manufacturing/production and service activities

2 7 - vo ngun u t vn: an influx of investment 5. Ch 1 nm sau khi lnh cm vn ca M c bi b, cc cng ty nc gii kht khng l nh Coca-cola, Pep si- Cola c hng u i v vn, chnh sch tip th v cc u i khc theo lut u T Nc Ngoi, nn cc cng ty ny dn dn thm nhp th phn ca cc nh sn xut trong nc. Cc sn phm khc cng ri vo hon cnh tng t. Bia Si Gn phi cnh tranh quyt lit vi cc cng ty bia lin doanh vi nc ngoi. Cc nh sn xut bt git trong nc, mc d c th p ng nhu cu trong nc n nm 2005, nhng li b cc cng ty khng l nh Procter & Gamble v Unilever dn vo th b.

Notes:- lnh cm vn : - c bi b: - cng ty nc gii kht khng l: - hng u i: - chnh sch tip th: policy - thm nhp th phn: into/ penetrate market shares - theo lut u T Nc Ngoi: Foreign Investment Law - cnh tranh quyt lit: - cng ty bia: - nh sn xut bt git: manufacturer - p ng nhu cu: need/demand - dn vo th b: corner embargo be lifted soft drink giant enjoy preferences marketing eat

under

the

compete fiercely brewery detergent producer meet/satisfy the

drive st/sb into the

6. bo v vic sn xut trong nc, cc nh sn xut trong nc ngh vi chnh ph mt s bin php. Th nht, nh nc nn c k hoch pht trin dnh ring cho vic u t nc ngoi v lnh vc kinh doanh v phn b theo vng a l v khng nn khuyn khch u t nc ngoi vo vic sn xut ra cc sn phm m cc doanh nghip trong nc c kh nng sn xut c nh nc gii kht, bt git, giy v thuc l. Th hai, vic cp giy php nn c p dng cho cc cng ty lin doanh hay cc doanh nghip c vn u t nc ngoi tham gia vo cc d n i hi c nhiu vn, cng ngh cao hay sn xut cc mt hng xut khu. Th ba, l nn c mt o lut chng i vic cnh tranh

28 khng lnh mnh c th dn c quyn kinh doanh, ph gi lm hi ngi tiu dng.

Notes:- bo v: defend/protect - k hoch pht trin: development plan - v lnh vc: in the field of/ in terms of - vic cp giy php: issue/grant licence - doanh nghip c vn u t nc ngoi: foreign-owned enterprise - c quyn kinh doanh: monopoly - ph gi: dumping 7. Trong ting Vit, t nc va c ngha l quc gia, va c ngha l nc, mt lin kt v ngn ng m mi rng buc cng thy r rng sau mt chuyn i thm vng t ph nhiu nht Vit Nam: ng bng sng Cu Long. Do ph sa bi p ca dng sng Cu Long lm phong ph va la y p ny, tng trng cho ngun lng thc ca c nc cng nh phong cch sinh hot k cn sng nc ca c dn trong vng. i vi du khch, ng bng sng Cu Long l mt trong nhng a ch tham quan p nht ng Nam , kt hp ci k o ca vng sng nc lung linh vi cnh quan y phn khi ca mt nn vn ho vui ti th hin qua cch sinh hot ca dn a phng cng hot ng thng mi. Trong khi nhng thnh ph ln nh Cn Th, M Tho, Long Xuyn lp thnh th vng cho cc tnh ca ng bng sng Cu Long th mng li knh rch mnh mng li l ci duyn c mt khng hai ca vng ny. Sinh hot vui nhn ca vng ny khng ging my vi cch sinh hot ca Thnh ph H Ch Minh. Tuy nhin iu khng c ngha l phi kh khn lm mi ti c ng bng sng Cu Long thot khi ci n o no nhit ca thnh ph ln nht Min Nam ny. Ch mt chng ba gi ng h bng xe trn Quc l 1 l bn l bn n M Tho, th ph ca tnh Tin Giang v l im xut pht tt cho cuc thm d vng ng bng ny.

Notes:

- c ngha: - lin kt v ngn ng: l - cng thy r rng: - chuyn i thm: - vng t ph nhiu: - ng bng sng Cu Long: - ph sa: - phong ph : - va la: - tng trng: - ngun lng thc: - phong cch sinh : - k cn sng nc: - c dn : inhabitant - a ch tham quan: - kt hp :

mean/signify/carry a meaning inguistic association/relation/tie recognizable journey/visit rich/fertile land The Mekong Delta silt ample/rich/diversified granary represent/symbolize source of food lifestyle riverine/riverside tourist destination in combination with/coupled with

2 9 - ci k o: - vng sng nc lung linh: - th hin: - hot ng thng mi: - lp thnh th vng: - mng li knh rch: - ci duyn: - c mt khng hai: - ging: - thot khi: - th ph: - im xut pht: marvel/miracle glittering water demonstrate/show/indicate/perform/express commercial activity provide a vantage for network of rivers and canals great boon second to none/unique be similar to/the same as/like escape capital city departure point

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Suggested Translation:

Economic Stability & Development in the Past Few Years1. The Ministry of Agriculture and Rural Development has required city and provincial peoples committees and relevant ministries maintain strict prevention of the epidemic. Localities are required to closely manage infected animals and ban trade and movement of infected animals. The culling of infected animals will be implemented following the health secto rs regulations. Vaccination should play an important role in controlling a future foot-andmouth outbreak in Vietnam. 2. In 2005, trade returns of Samsung electronics reached USD 233 million. But in 2006 this figure is estimated to be USD 335 million. With the motto of being slow but firm, a joint venture project named Savanna (Samsung Vietnam) has come into existence and begun its operation with a total investment capital of USD 78 million. Samsung has mobilized an investment capital of USD 300 million in many fields such as electronics, synthetic fiber, houses for lease. But the other projects in fields like heavy industry, processing industry and construction are only feasibility studies. Currently in Vietnam, Samsung is a big sponsor. In addition to financing many big and small-scale sport championships. Samsung has also granted USD 1.2 million for foreign language study programs and gymnastic training. 3. The manufacturing sector expanded significantly during the post-World War II reconstruction of the Philippine economy. Government controls on imports promoted the development of light industries that produced consumer goods for the domestic market. In the 1970s the government created four special economic zones designed to stimulate manufacturing for the export market. Industries in these export-processing zones receive incentives to produce traditional exports. The zones have helped to stimulate foreign investment in the Philippine economy, in part because they are exempt from certain taxes and restrictions on foreign ownership of businesses. The success of these zones has led to the creation of other types of special economic zones, such as large industrial estates. Businesses receive tax exemptions and other incentives in these zones. The former U.S. naval base at Subic Bay, for example, is now a huge industrial-commercial zone in Manila. Its modern facilities and duty-free economic zone have attracted new export-focused industries and foreign investment 4. Vietnam has sought to maintain socio-politic stability, develop economic and diplomatic establishment in recent years. The positive legal changes have had a tremendous influence on the production, financial and commercial situations. Vietnam ranked as the world s secondlargest rice exporter to Thailand because its agriculture responded dramatically to free market. In manufacturing and service activities the rapid growth and change occurred in and around HCM City. Much economic expansion was partially driven by an influx of investment and technology from some 2 million overseas Vietnamese in many different countries worldwide, most of whom had returned to Vietnam for their investment and contacts with their relatives. 5. Only a year after the US embargo was lifted, soft drink giants such as Coca Cola and Pepsi Cola, which have enjoyed superior advantages in capital, marketing policies and preferences under the Foreign Investment Law, have gradually eaten into the market shares of local producers. Other products are also in the same situation. Saigon Beer has to compete fiercely

31 with breweries of foreign Joint-ventures. Local detergent producers, although capable of meeting domestic demand to the year 2005, have driven into the corner by giants such as Procter & Gamble and Unilever. 6. To protect domestic production, local producers have proposed several measures to the Government. First, the State should devise specific development plans for foreign investment in terms of business field and geographical area and should not encourage foreign investment in products which local enterprises can produce such as soft drink, detergent, paper and cigarettes. Second, licenses should be granted only to JVs or foreignowned enterprises which involve in projects requiring large capital, advanced technology or producing goods for export. Third, a law should be enacted against unfair competition that can lead to monopoly, dumping or price inflation that does not benefit consumers. 7. In Vietnamese the word nuoc carry a double meaning of country and water, a linguistic association recognizable after a journey to the most fertile land in Vietnam- the Mekong Delta. The silt from the Mekong River helps to bring an ample granary representing the whole country source of food as well as the local inhabitants riverside lifestyle. For tourists, the Mekong Delta is one of the most fascinating tourist destinations in South-east Asia. It offers the marvel of the glittering waters coupled with the gaiety of a culture demonstrated by the local lifestyle and commercial activities. The big cities such as Can Tho, My Tho and Long Xuyen provide a vantage for the nine provinces of the Mekong Delta while the immense network of rivers and canals is regarded as the great boon second to none in this region. The exciting life in this region is not very similar to that in HCM City. However, it does not suggest any difficulty in reaching the Mekong Delta to escape the excitement of the greatest city in Southern Vietnam. It takes only a three-hour drive( by bus, though) on the National Highway Number 1 to get to My Tho, the capital of Tien giang & an ideal departure point for exploring this delta region.

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Chapter 2:Lesson 10 :

STRATEGIES FOR ECONOMIC GROWTHNHNG NGNH KINH T TRNG IM

Nhng ngnh kinh t trng im nm nay cho thy rng Vit nam ang i ng hng trn con ng pht trin khi m hu ht cc mc tiu s tr thnh hin thc v cc thnh tu t c s cao hn d on. Theo mt bn bo co ca chnh ph c Th tng Phan Vn Khi trnh by ti k hp Quc hi ln th 8, chng ta s t c tt c cc mc tiu kinh t trng im ca nm nay vi mc tng trng kinh t d on l 6,7%. Gi tr cng nghip d kin s tng 15,5%, trong khi mc tiu ra l 11%. Mc tng trng cao nht l 18,8% s thuc v cc thnh phn kinh t ngoi quc doanh, tip l u t nc ngoi 17,3% v thnh phn nh nc vi 12,4%. Nng sn s tng 4,9% so vi mc tiu l 4%, ngnh dch v cng s tng 6% so vi mc tiu l 5 - 5,5%. Tng u t trong nm c tnh vo khong 27,9% ca tng sn phm quc ni (GDP), tng 20% so vi nm ngoi. Trong ng gp ca ngn sch nh nc l 23.8%, tn dng nh nc 17%, thnh phn lin doanh nh nc 17,9% v thnh phn t nhn l 23,2%. Tng thu nhp ngn sch s tng 8,9% so vi nm mc tiu. Lng xut khu hng ho s t 14 21,3% so vi mc tiu t ra vo u nm l 11 xut khu vn trung bnh t 180 USD, vt qua mc im. Thng d thng mi s c hn nh 7% t ngun thu xut khu. ngoi v s vt t USD, ln n 12%. Thu nhp t mc 170 USD l mc lnh mnh l

Bn bo co cho rng c c thnh tu kinh t tt p/ kh quan nh vy l nh vo s u t ngy cng tng ca chnh ph, s pht trin ca nhng cng ty nh v ngun tng thu nhp ln mnh t xut khu du th. iu nay dn n vic k kt Hip nh thng mi Vit-M v s thnh lp th trng chng khon nh l nhng nhn t quan trng kch thch s tng trng trong tng lai. Tuy nhin, cng cn nhn mnh rng nn kinh t tng lai v nhng ci cch hnh chnh cn c duy tr v y nhanh tc tng trng. u t nc ngoi ang cn thp v s chuyn i ca nhng x nghip nh nc vn cn chm chp. Trong lc , nn kinh t li phi i mt vi nhng thch thc ln, bng chng l cnh tranh yu km, gi tr gia tng trong sn phm cng nghip

thp, gi non km.

c

33 nng sn cng cn thp v cht lng dch v th

Bn bo co cng a ra mt vi gii php vt qua nhng thch thc ny v t c mc tng trng cao hn vo nm ti. Nhng bin php ny bao gm c s thay i mnh m ca nhng x nghip thuc s hu nh nc, khuyn khch cc thnh phn kinh t t nhn tham gia vo lnh vc gio dc, chm sc sc kho, v sinh th v nhng dch v cng cng khc. D kin k hp Quc hi, bt u t ngy 14 /11, s thng qua lut Bo him doanh nghip, lut kim sot ma tu v chng trnh ngh s cho nm 2001. K hp ko di trong vng mt thng ny cng s tho lun phng hng v nhim v cho nm 2001 v nhng vn lin quan n ngn sch an ninh, quc phng v nhng chng trnh quc gia.

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Suggested Translation:

KEY ECONOMIC SECTORSMajor economic indicators this year show Vietnam is on the right path of development as most targets will be realized and achievements will be higher than expected. According to a government report read by Prime Minister Phan Van Khai at the National Assembly's 8th session, all the key economic targets of this year will be achieved with the economic growth rate estimated at 6.7%. Industrial value is projected to grow by 15.5% against the planned target of 11%. The non-State sector will post the highest growth rate at 18.8%, followed by the foreign investment sector with 17.3% and the State sector with 12.4%. Agricultural production will increase to 4.9% against the 4% target, and the service sector will also rise by 6% against the 5 - 5.5% target. Overall investment in the year is estimated at 27,9% of the gross domestic product (GDP), an increase of 20% on last year. State budget makes up 23.8% of the amount, State credits 17%, State corporate sector 17.9% and the private sector 23.2%. Budget revenues will rise 8.9% from last year and exceed the target. Export sales are expected to reach US$ 14 billion, up 21.3% against the target of 11 - 12% set at the beginning of the year. The per capita export earnings has reached US$ 180, surpassing the US$ 170 mark, a criterion for a country 's with developed external trade. Trade surplus will be confined to a healthy rate of 7% of export earnings. The report attributes the good economic performance to bigger Government investment, small enterprise development and strong revenues from crude oil exports. It hails the signing of the Vietnam-US. Trade agreement and the establishment of the stock market as important factors to fuel future growth. However, it stresses further economic and administrative reform is needed to sustain and accelerate the growth tempo. Foreign investment remains low and State enterprise reform is moving slowly. Meanwhile, the economy still faces big challenges, evidenced by poor competitiveness and low added value industrial production, low prices of agro-products and poor quality in services. The report also proposes some measures to overcome challenges and achieve higher growth next year. These measures include stronger reform of State-owned enterprises, encouragement of the private sector's participation in education, health care, urban sanitation and some other public services. The national Assembly session, starting from Nov.14, is expected to pass the Law on Insurance Business, the Law on Drug Control and the legal agenda for 2001. The one-month long session will also discuss directions and tasks for 2001 and issues regarding the budget, defense, security and State programs.

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Lesson 11: TOURISM GROWING AS HOTEL OCCUPANCY DROPSHCM CITY - The number of foreign tourists arriving in Viet Nam has been increasing year after year. On average, it grows by 30 per cent a year, according to recent statistics released from Viet Nam Tourism Administration. Though the number of tourists is on the rise, occupancy rates of hotels have dropped significantly as compared to previous years. Over the past six years, joint venture hotels and guest houses operated at an average capacity rate of 85 to 90 per cent. They are now operating at a capacity rate of only 60 per cent. A rate which is much worse than that of state - owned hotels and private guest - houses. One of the main reasons for the decline in hotel capacity rates is the mushrooming of joint-venture hotels which has caused severe competition among hotels for room rates and hotel services. Several hotels have become burdens to their owners, with low gross earnings and high taxes, many are about to be forced to close down. Most foreign visitors have come here eager to experience something new and to travel to places of wild and natural beauty during their stay. For this reason, Viet Nam's tourist industry needs to reorganize its management and set goals in order to satisfy the current demands of tourists. Though there has been growth in the number of tourists over the past several years, the number of visitors that come for a second visit is low. It is evident that the attraction of Vietnam's tourist industry is still inadequate and tourist sites, transport and accommodation facilities have not yet reached international standards. The country now has some 22 provinces and cities which have completed detailed master plans for tourist resorts.However, these projects are yet to be developed and are still under discussion. Even though each year the government has spent tens of billion of dongs on upgrading national historical relics and tourist resorts, due to a lack of management expertise and investment knowledge, these sites have failed to help boost the development of the tourist industry. To improve quality of tourist resorts and to boost hotel operations, Viet Nam's tourism industry now requires more investment from the government.

3 6

Suggested Translation:

DU Khch th tng trong khi t l lu tr ti khch sn gimTP H Ch Minh - S lng du khch nc ngoi n Viet Nam ngy cng tng. Theo s liu thng k gn y ca Tng Cc Du Lch Vit Nam th lng du khch tng bnh qun hng nm l 30%. Mc d lng du khch tng, nhng tnh trng khch li khch sn gim ng k so vi nhng nm va ri. Hn 6 nm qua,, cc khch sn lin doanh v cc nh khch ch khai thc c t 8590% s phng hin c. Hin gi ch cn t mc 60%, thp hn nhiu so vi cc khch sn ca nh nc v nh khch t nhn.

Mt trong nhng nguyn nhn chnh ca s tt gim lng khch l do khch sn lin doanh mc ln nh nm, iu ny dn n vic cnh tranh khc lit v gi phng v gi dch v.

Nhiu khch sn c tng doanh thu thp trong khi li chu mc thu cao, ang tr thnh gnh nng cho cc ng ch v c nhiu khch sn sp sa buc phi ng ca.

a s du khch nc ngoi hm h n Vit Nam tm mt ci g mi m v mun i n nhng vng c v p t nhin v hoang d trong thi gian lu li ca h.V l do ny, du lch Vit Nam cn t chc li vic qun l v t ra nhng mc tiu nhm tha mn nhu cu hin nay ca du khch.

Mc d lng du khch vn tng trong nhng nm qua nhng s du khch tr li Vit nam ln th hai rt t. R rng rng ngnh du lch Vit Nam vn cha sc hp dn du khch. Thm vo , cc im du lch v cc phng tin n i li cha t n tiu chun quc t. Vit nam hin c khong 22 tnh v thnh ph ang hon tt nhng k hoch tng th chi tit xy dng cc khu ngh mt cho du khch. Tuy nhin nhng n ny vn cha c trin khai, vn ang cn ang c tho lun.

3 7

Mc d hng nm chnh ph chi hng chc t ng nng cp cc di tch lch s quc gia v cc khu ngh mt, nhng do s yu km v chuyn mn qun l nn nhng ni ny vn cha c th thc y s pht trin ca ngnh du lch nc nh. ci thin cht lng ca cc nh ngh v tng cng hot ng ca khch sn, ngnh du lch Vit nam cn chnh ph u t nhiu hn na.

3 8

Lesson 12:

ADJUSTMENTS NEEDED TO SOCIAL INSURANCE SCHEME

Generally, after a time of stagnation, HCMC' s private textile embroidery industry has recovered and develop somewhat since 1991. Yet development is not stable because most private units work according to foreign orders. Consequently, they can't control their production plan, and labour price for making garments is limited by foreign partners (the labour cost of 1995 is equal to 65 - 70% of that in 1991 - 1992). Due to the very nature of the industry, the average wage of those working in this branch is only about VND 400,000 per month. Under the current fierce competition, the amount of 15% of total wages for social insurance and 2% for medical insurance that enterprises must contribute, if the proposed social insurance scheme comes into effect, will push up production costs to very high levels, making it difficult for Vietnamese ventures to compete effectively and occupy the market. To help private textile embroidery businesses survive, Mr. Nam has suggested, the State should amend the contribution rate of non - State ventures to Social Insurance schemes, as follows: - Social Insurance: 10% by enterprise, 3% by employee. - Medical Insurance: 1 % by enterprises, 1 % by employee The State should also issue a regulation concerning employees who are trained and recruited by an enterprise, and are obligated to work for at least two years. It is necessary that employees working at non-- State ventures should be given a work card. Employer agreement may be required if an employee want to leave his or her job. All members of HCMC's Textile - Embroidery Association agree on the implementation of contributing a part of total wages to Social and Medical Insurance, in compliance with the Labour Code.

LOCAL PRODUCERS COMPLAIN ABOUT UNEQUAL COMPETITIONBusiness leaders of big companies in HCMC have voiced difficulties they are facing with in the fierce competition against foreign companies, especially world giants. At a meeting on "How to encourage foreign investment and protect domestic production" held in HCMC last week, producers of Tico and Lux Detergent, P/S Cosmetics, Tribeco Soft Drink, Viet Thang Textiles, Saigon Beer and HCMC Poultry Company, had the same opinion that local enterprises are not in an equal footing in competing with foreign counterparts as they do not enjoy tax incentives as foreign-invested enterprises.

3 9 Only a year after the US embargo was lifted, soft drink giants such as Coca Cola and Pepsi Cola, which have enjoyed superior advantages in capital, marketing policies and preferences under the Foreign Investment Law, have gradually eaten into the market shares of local producers. Other products are also in the same situation. Saigon Beer has to compete fiercely with breweries of foreign Joint-ventures. Local detergent producers, although capable of meeting domestic demand to the year 2000, have driven into the corner by giants such as Procter & Gamble and Unilever. To protect domestic production, local producers have proposed several measures to the Government. First, the State should devise specific development plans for foreign investment in terms of business field and geographical area and should not encourage foreign investment in products, which local enterprises can produce such as soft drink, detergent, paper and cigarettes. Second, licenses should be granted only to JVs or 100% foreign-owned enterprises, which involve in projects requiring large capital, advanced technology or producing goods for export. Third, a law should be enacted against unfair competition that can lead to monopoly, dumping or price inflation that does not benefit consumers. Fourth, there should be a policy to encourage domestic investment and to grant domestic enterprises the same tax incentives as foreign investors enjoy. Fifth, a campaign to motivate local consumers to use domestic goods should be launched, creating conditions for domestic enterprises to develop.

Suggested Translation:

CN iu chnh li h thng bo him X hi

Nhn

chung sau mt thi gian hot ng tr tr, nn cng nghip dt thu t nhn ca Thnh ph H Ch Minh c khi phc v pht trin mc nht nh k t nm 1991.Tuy nhin s pht trin khng n nh bi v hu ht cng vic ca cc x nghip t nhn u ph thuc vo n t hng ca nc ngoi.Do vy, h khng th kim sot c k hoch sn xut, v gi lao ng cho sn phm may mt b cc i tc nc ngoi qui nh rt thp ( tin cng lao ng nm 1995 ch bng 65%-70% so vi cc nm 1991 v 1992.).Do tnh c th ca ngnh ny, nn lng trung bnh ca cng nhn trong ngnh may-thu ch khong 400.000 ng/thng. Vi s cnh tranh gay gt hin nay, bo him x hi chim n 15% v bo him y t l 2% trong tng s lng m cc doanh nghip phi ng, v nu nh k hoch d kin ca bo him x hi c ph duyt, th gi thnh sn xut s rt cao gy kh khn cho cc nh sn xut Vit Nam trong vieec cnh tranh c hiu qu v chim lnh th trng.

4 0 gip cc doanh nghip thu-may t nhn sng cn, ng Nam ngh nh nc nn sa i t l ng gp ca cc doanh nghip ngoi quc doanh i vi chnh sch bo him x hi nh sau: - Bo him x hi: 10% i vi doanh nghip v 3% i vi cng nhn - Bo him y t cng nhn : 1% i vi doanh nghip v 1% i vi

Nh nc cng nn ban hnh mt qui nh c lin quan n ngi lao ng c cc doanh nghip tuyn dng v o to buc phi lm vic ti thiu l 2 nm. Cc cng nhn lm vic trong cc doanh nghip ngoi quc doanh cn phi c cp th lm vic. Nu mt cng nhn no mun thi vic th phi c doanh nghip c qun ng . Tt c mi thnh vin ca cc cng ty may-thu Thnh ph H Ch Minh u ng thc hin y vic ng gp mt phn lng vo bo him x hi v y t, th theo ng qui nh ca lut lao ng.

Cc nh sn xut a phng phn nn v s cnh tranh khng lnh mnhCc ch doanh nghip ca cc cng ty ln TP H Ch Minh nu ra nhng kh khn m h phi ng u trong vic cnh tranh gay gt vi cc cng ty nc ngoi, c bit l vi cc cng ty khng l th gii. Ti mt cuc hp bn v : Lm th no khuyn khch u t nc ngoi v m bo sn xut trong nc c t chc ti TP H Ch minh tun qua, cc nh sn xut ca cc cng ty bt git Tico v Lux, M phm P/S, nc gii kht Tribeco, dt Vit Thng, bia Si gn v cng ty gia cm vt nui TP H Ch Minh u thng nht mt kin l cc doanh nghip trong nc khng cn sc trong vic cnh tranh vi cc i tc nc ngoi v h khng c hng chnh sch u i thu nh cc doanh nghip c vn u t nc ngoi.

4 1 Ch 1 nm sau khi lnh cm vn ca M c bi b, cc cng ty nc gii kht khng l nh Coca-cola, Pep si- Cola c hng u i v vn, chnh sch tip th v cc u i khc theo lut u T Nc Ngoi, nn cc cng ty ny dn dn thm nhp th phn ca cc nahf sn xut trong nc. Cc sn phm khc cng ri vo hon cnh tng t. Bia Si Gn phi cnh tranh quyt lit vi cc cng ty bia lin doanh vi nc ngoi. Cc nh sn xut bt git trong nc, mc d c th p ng nhu cu trong nc n nm 2000, nhng li b cc cng ty khng l nh Procter & Gamble v Unilever dn vo th b. bo v vic sn xut trong nc, cc nh sn xut trong nc ngh vi chnh ph mt s bin php. Th nht, nh nc nn c k hoch pht trin dnh ring cho vic u t nc ngoi v lnh vc kinh doanh v phn b theo vng a l v khng nn khuyn khch u t nc ngoi vo vic sn xut ra cc sn phm m cc doanh nghip trong nc c kh nng sn xut c nh nc gii kht, bt git, giy v thuc l. Th hai, vic cp giy php nn c p dng cho cc cng ty lin doanh hay cc doanh nghip c 100% vn u t nc ngoi tham gia vo cc d n i hi c nhiu vn, cng ngh cao hay sn xut cc mt hng xut khu. Th ba, l nn c mt o lut chng i vic cnh tranh khng lnh mnh c th dn c quyn kinh doanh, ph gi lm hi ngi tiu dng. Th t nn c chnh sch khuyn khch u t trong nc v cho cc doanh nghip trong nc c hng chnh sch u i thu nh cc nh u t nc ngoi. Th nm, nn pht ng mt chin dch ng vin ngi Vit Nam dng hng ni a, to iu kin cho cc doanh nghip trong nc pht trin.

4 2

Lesson 13:Hm th by, mt on doanh nhn trao cho tng thng Indonesia Suharto ng kim ch tch ca D in n hp tc Kinh t Chu Thi Bnh Dng (APEC) mt bn bo co ngh t do mu dch cn c thc hin nm 2001. C hng ti ang ng vin cc nh lnh o a khi nim v t do mu dch vo nn kinh t vo nm 2001. l li ca ng Les Mac Craw, ng ch tch Din n Kinh doanh Thi Bnh Dng (PBF) ni vi tng thng Suharto khi ng trao tay cho tng thng bn bo co ca on. Bn bo co ca PBF mt t chc bao gm i din ca 33 doanh nghip t nhn ca 18 c cu t chc thnh vin, nu r rng cc nn kinh t trong khi APEC pht trin nn thc hin t do mu dch v s m rng t do u t trong khu vc vo nm 2002 v vo thi im khng qu nm 2010 i vi cc nn kinh t thuc thnh phn khc. Bn bo co cng nu r l mc ch ny cn c tha nhn thc hin trong nm nay th hin vai tr ca n l mt din n chnh sch ch o cho s pht trin ca khu vc Chu Thi Bnh Dng. Bn bo co cng nhc nh cc nh lnh o ca APEC nn nhanh chng chp nhn v thc hin chnh sch tm ngng li v vic gii thiu kiu mu dch mi v cc tr ngi v u t. Cc nh lnh o cng nn tha nhn cc nguyn tc ca iu l u t p dng vo lut trong nc m iu ph hp v th hin y nhng li cam kt ca hi ngh Uraguay cng nh bo m hn na nhng bin php m rng th trng. Mt nhm chuyn gia trong thng 8, ca h m trong h c hon tt vo nm APEC, on nhng chuyn gia ni ting EPG, trnhf ln tng thng Shuharto bn bo co ngh t do mu dch v s m rng u t 2020.

Nhm EPG ngh rng s chuyn dch s c bt u vo nm 2000, vi nhng nc c nn kinh t pht trin hot ng thng mi v u t trong vng 10 nm, cc nc mi cng nghip ha trong vng 15 nm v cc nc cn li trong vng 20 nm. ng Craw ni rng nhng ngh ca h rt rm beng nhng chng ti cng tha nhn rng nhng thay i kinh t ang din ra mnh m. Chng ti mun chuyn n mt thng ip l cng vic

43 kinh doanh v nhng mi lu tm v vn ny tin trin nhanh hn nhng g cc chnh ph c th lm. ng Craw cho bit thm. Tuy nhin ng cho rng cc nh lnh o APEC c nhim v phi quyt nh v thi hn i vi nn kinh t ton khu vc v vic m rng u t trong khu vc. Tng thng Shuharto ni vi i din ca PBF rng bn bo co ca PBF cng vi bn bo co ca EPG s gi n cc nh lnh o khc ca APEC cc v ny c c s v iu kin tho lun trong cuc hi nghm thng nh gn Bogor vo ngy 15 thng 11. Tng thng ni ng hi vng hi ngh thng nh s c th a ra mt gii php lm tng v to ra s hp tc kinh t kh thi gia cac sthanhf vin APEC. Trong nhng li ngh , bn bo co mun nu ln l cc nh lnh o lun c gng thc hin tnh trong sng trong qun l, lut l v cc qui tc, tha nhn mt lut quan thu chung, ci tin nhng iu kin i hi v th thc i vi vic nhp cnh ca cc doanh nhn thuc khi APEC i du lch v ci tin vic bo v tc quyn. Cng nh trong bn bo co EPG, bn bo co ca PBF cng gii thiu rng cc thnh vin APEC khng phi l thnh vin GATT hin thi, nh Trung Quc, s tr nn cc thnh kt giao cng sm cng tt. Nhm APEC gm : c, Bruny, Canada, Trung Quc, Hng Kng, Newzealand, Papua New Guinea, Phi lip pin, Xingapo, Nam Triu Tin, i loan, v M. Chi l mong mi chnh thc tham gia vo nhm hi ngh cp B Trng APEC t ch y vo thng 11. Trong lc y, Sydney, Th tng c Paul Keating hoan nghnh bn bo co ca PBF v nhn mnh s cn thit cho vic a ra mt k hn thc hin cho s t do mu dch gia APEC v cc thnh vin. Keating ni rng iu chnh yu i vi PBF vin tng v Chu Thi Bnh Dng nng ng l s cn thit cho mt chuyn bin nhanh v t do mu dch v vic m rng u t trong vng. A group of businessmen Saturday handed over a report to the current chairman of the Asia Pacific Economic Cooperation (APEC) forum, Indonesian President Suharto, proposing that Free Trade in the region be reached by 2010.

Suggested Translation:

4 4 "We are encouraging the leaders to encourage their economies to reach the concept of free trade by the year 2010," Les Mac Craw, who co-chairs the Pacific Business Forum (PBF) told Suharto when handing over the group's report.. The report of the PBF, comprising 33 private business representatives of APEC's 18 member economies, said developed APEC economies should achieve free trade and investment liberalization in the region by 2002 and no later than 2010 for the other member economies. The report also said that the goal should be adopted this year and that. APEC should produce concrete. results this year in order to sustain its role as a policy forum which would guide the growth of the Asia Pacific region. It recommended that the leaders of APEC should immediately adopt. a policy of standstill on the introduction of new trade and investment barriers. They should also adopt the principles, of a non-binding investment code into domestic laws where appropriate and implement the Uruguay Round commitments as well as undertake further market opening measures. A group of APEC experts, the Eminent Person's Group (EPG), in August submitted their report to Suharto in which they proposed that free trade and investment liberalization in the region be completed by 2020. The EPG suggested that the move be started in 2000, with; advanced economies freeing trade and investment within 10 years, newly industrialized members within 15 years and the rest within 20 years. Mc. Craw said their proposal was "very aggressive but we also recognize the winds of economic changes are blowing strongly". "We wanted to convey the recognition that the business and business interests tend to sometimes outstrip and move faster than governments can", he said. However, he said that it was up to the APEC leaders to decide on the dates for full trade and investment liberalization in the region. Suharto told PBF representatives that the PBF report together with the EPG reports would be sent to the other APEC leaders so that they would have sufficient material to discuss during their upcoming summit in nearby Bogor on November 15. He said he hoped the summit would be able to produce resolution enhancing and making possible economic cooperation among APEC members. Among its various recommendations, the report said that the leaders should also work towards a transparency in administrative systems, rules and regulations, adopt a common custom code, improve visa requirements for intra - APEC business travel and improve intellectual property protection.

4 5 As in the EPG report, the PBF also recommended that APEC members that were not currently GATT members, such as China, become contracting parties as soon as possible. APEC group Australia, Brunei, Canada, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand and the United States. Chile is expected to formally join the group during the APEC ministerial summit here in November. Meanwhile, in Sydney, Australian Prime Minister Paul Keating welcomed the PBF report and stressed the need to set a realistic date for free trade among APEC members.

4 6

Lesson 14:

VIETNAM TOLD TO PLAN WATER DEVELOPMENT

The overseas manager of the British water Association yesterday said Vietnam should work out a development plan for its water sector before seeking joint projects with British companies. Speaking at a press briefing in Hanoi, Paul Horton said British companies were here this time to seek business deals and explore opportunities for future projects with local companies in waste water treatment and water equipment. There were still legal and financial difficulties for build -operate -transfer (BOT) projects in Vietnam, but this was a common situation in other developing countries and was not too difficult to overcome, said Clovis Hui, financial manager of the Bovis company Bovis has been selected to join the Hoc Mon water exploitation and Supply company in a 20 year BOT water supply project with a daily capacity of 300,000 cubic meters for HCMC. "We hope our project will progress smoothly " he said At the press briefing, U.K. Minister of Environment, communications and Regions Chris Mullin handed a symbolic check for 25,000 pounds sterling (U.S $ 39,000) provided by the British government for a project to protect rare animals in Cat Ba National Park in the country's north. The project, monitored by Flora and Fauna International, also covers the training of forest rangers and park managers and raising local's awareness of the park's biological diversity. Mullin is leading a delegation representing 10 British companies engaged in water equipment, water infrastructure development and waste water treatment. Yesterday morning, before the press briefing, the delegation joined a workshop on opportunities for U.K- Vietnam cooperation in water and the environment with 150 Vietnamese participants. The delegation leaves Hanoi for HCMC today.

Suggested Translation:

VI T NAM CHO BIT K HOA CH PHA T TRI N NGUN NC(SGT - Hanoi) , Ngay hm qua, giam c nc ngoai cua hip hi ngun nc Anh a noi : Vit Nam se thc hin k hoach phat trin nganh nc trc khi tm hiu mt d an chung vi cac cng ty Anh. Tai cuc hop bao ngn Ha Ni, ng Paul Horton phat biu : thi gian nay, cac cng ty Anh n y tm mi quan h lam n va thm do thi c cho d an trong tng lai vi cac cng ty cua nc lang ging v cach x ly lang ph nc va vic trang b cho ngun nc. ng Lovis Hui - giam c tai chnh cua cng ty Bovis phat biu : Vn con nhng kho khn v tai chnh va lut phap i vi d an xy dng va thc hin chuyn i Vit Nam, nhng y la mt tnh trang chung cac nc ang phat trin ma qua kho khc

phuc.

4 7 Cng ty Bovis c chon lin kt cng ty khai thac va cung cp nc Hoc Mn trong vong 20 nm. D an c xy dng va thc hin chuyn i cung cp ngun nc hang ngay vi sc cha la 300.000 met khi cho thanh ph H Ch Minh. Giam c tai chnh con noi thm "Chung ta hy vong, d an cua chung ta se tin trin tri chay". Tai cuc hop bao ngn. B trng mi trng thng tin lin lac va khu vc Anh a gi tay a ra ky hiu v vic kim tra 25.000 bang Anh (39.000bang My), ma chnh phu Anh cung cp cho d an bao v ng vt quy him cng vin quc gia Cat Ba pha Bc t nc. D an cung c t chc bao v ng thc vt quc t giam sat v vic hun luyn v nhiu loai sinh vt hoc khac nhau cua cng vin, cho ngi gac rng va ngi quan ly cng vin. ng Mullin ang dn oan ai bieu - ai din cho 10 cng ty Anh ti tham d vao vic trang b nc, chin dch phat trin nc va cach x ly lang ph nc. Sang hm qua, trc cuc hop bao ngn, oan ai biu a tht cht thi c cua cuc hi thao hp tac gia Vit Nam va Anh v mi trng nc vi 150 thanh vin Vit Nam tham d. Hm nay, oan ai biu a ri Ha Ni ti thanh ph H Ch Minh

Lesson 15:CHNH SACH KINH T M VAVI C H UY N G VN U T TR ONG S NGHIP CN G NG HIP HOA - H N AI HOA I

Cng nghip hoa -hin ai hoa phai c tin hanh theo m hnh kinh t m ca trong nc va vi nc ngoai. Phat huy hn na quyn t chu, tnh nng ng, sang tao tng cng lin doanh lin kt , hp tac cung co li gia cac nganh , cac a phng va c s phat trin san xut kinh doanh co hiu qua. Khuyn khch cac hnh thc a dang va cac giai phap cu th, thi ua ui kp va vt cac n v , a phng khac nhng phai chng cuc b, ban v, v t chc, vi pham ky lut, k cng, phap lut cua nha nc, phng hai n li ch chung. Nha noc cung nh doanh nghip phai tm cach thch ng va khai thac tt nhng thun li cua xu th quc t hoa san xut va i sng, hiu ro i tac , co chin lc va sach lc khn ngoan

chin thng trong cuc canh tranh kinh t ngay cang gay gt. Trong bi canh khu vc va quc t hin nay, s han ch quy t va v phn lon cac loai tai nguyn , s di dao v ngun nhn lc, li th v gia nhn cng re, v tr a ly thun li, oi hoi va cho phep chung ta la chon chin lc cng nghip hoa hng v xut khu la chnh phat trin nhanh ng thi thay th nhp khu nhng hang hoa dch vu trong nc t cung ng co hiu qua hn. Hng v xut khu la cach thc tn dung nhng li th so sanh, tranh thu sc mua ln trn th trng th gii tch tu vn nhm nhanh chong m rng quy m va nng cao trnh

48 san xut trong nc, tao thm nhiu vic lam va thu nhp, tng kha nng nhp vt t thit b tao ra nhng hang hoa dch vu co gia tr gia tng ln, cht lng cao, co sc canh tranh manh ca trn th trng ni a va th trng th gii, ap ng nhu cu san xut va i sng cua nhn dn. thc hin thanh cng chin lc hong v xut khu, tao c s tin cy trong quan h quc t trn ba mt sau y: Trong thanh toan bng ngoai t, trong vic thc hin cac hp ng bun ban , trong vic bao am phm cht hang hoa. t bit chu trong khng ngng nng cao cht lng hang xut khu . Hng v xut khu phai i i vi khuyn khch phat trin manh va bao h ung mc san xut ni a, khng hang ngoai nhp lu tran lan, bop cht hang ni, khin san xut trong nc b giam sut hoc nh n, ngi lao ng mt cng n vic lam va thu nhp.

Suggested Translation:

OPEN ECONOMIC POLICY AND INVESTMENT CAPITAL MOBILIZATION IN INDUSTRIALIZATION AND MODERNIZATIONIndustrialization modernization must be carried out with an open economic model, both domestically and abroad. Autonomy right, creative dynamism must be stimulated, joint venture and integration, mutual benefit cooperation among sectors, localities and units must be intensified for efficient business and production development. Diverse form and specific measures, emulation for catching up with and surpassing other units and localities must be encouraged in the framework of preventing from sectionalism, out of control violation of state disciplines principles and laws detrimental to common interests. The state and enterprises must find out the way to adapt to and well exploit the advantages of the tendencies production and life internationalize correctly understand partners and work out prudent strategies and tactics to conquer in the economic competition which is getting increasingly fiercer. In the present international and regional context, the constriction of land stock and various national resources, the abundance of human power, the advantages of cheap labor costs, favorable geographical position require and allow us to choose the industrialization strategy mainly for export for rapid development and at the same time for import substitution of goods and services more efficient if provided domestically. Outwards policy means measures for full use of comparative advantages, gaining great purchasing power in the world market to accumulate capital to expand rapidly dimensions and upgrade domestic production ability, create more jobs and income, increase in capacity of importing raw materials and equipment to produce goods and services of great added values, high quality, strong competitiveness in both domestic and international markets meeting demand for production and life of people. To carry out successfully the strategy in the direction to export, the confidence in international relations must be generated with three regards as follow: Foreign currency payment, trade contact implementation and goods quality assured. Much attention must be paid to upgrading interruptedly export good quality.

4 9 Export oriented strategy must be coupled with encouraging rapid development and adequate protection of domestic production, preventing contraband from spreading, hampering domestic goods, making domestic production contracted or stagnated, labors out of jobs and income.

Lesson 16:

BACK IN BUSINESS

Doimoi, or Vietnam policy of economic renovation, has paved the way for more than US $ 20 s billion in foreign direct investment into the country. This much needed capital, gained from countries and territories around the world, is brightening the general outlook of the economy, creating jobs and raising the population s standard of living. Among the tops investors, those from regional countries sentence and ahead and shoulder above the large corporations of Europe and North American. While Europe companies seem to prefer small - to - medium - sized projects and American ones are still fairly new