The Government made the decision at its regular November meeting held in Ha Noi on November 29.
Thanks to various measures, including the PM’s Directive 25/CT-TTg dated September 26, the growth rate of CPI continued to drop down from 2.2% in September to 0.85% in October and 0.47% this month, according to a report presented at the meeting.

Leaders of the Government in the regular November meeting, Ha Noi, November 29, 2012 - Photo: VGP/Nhat Bac

In the time to come, to secure the inflation control, it is necessary to promote production and business activities, said many Cabinet members.

Minister of Agriculture and Rural Development Cao Duc Phat proposed assistance to aquaculture and husbandry in order to guarantee food supplies in the coming holiday.

Emphasizing agriculture as a great advantage of the country, Deputy PM Vu Van Ninh underlined the need to design a detail agriculture development plan for 2013, which covers irrigation planning, processing and consumption, and market expansion for agricultural products.

Concluding the meeting, PM Nguyen Tan Dung continued to emphasize inflation control, macroeconomic stabilization, social security guaranteeing, and production and business enhancement in order to achieve a proper growth rate, fulfill socio-economic targets of 2012 and create a driving force for 2013.

The Government chief urged ministries and agencies to strictly manage prices of primary goods, such as medicines, milk, fuels, and food.

He also mentioned the reduction of interest rate as a practical way to rein in inflation while facilitating business activities.

PM Dung asked his inferiors to boost the disbursement of investment capital sources as well as closely monitor quality, schedule and efficiency of public investments.

To prepare for the upcoming Lunar New Year holiday, the PM required ministries, agencies and localities to secure abundant supplies of goods, tighten their management over quality of goods, propose welfare policies to help the poor, and take measures guarantee social order and safety.

At the meeting, the Government also discussed the Plan on renewing coordination in macro-economic management in the period of 2012–2020, the master plan on economic restructuring, the Bill on thrift practice and anti-prodigality (amended), and the Bill to revise the Residence Law.

VGP

“Inflation in 2012 will be about 7 percent and next year we will have even better control of it, at about 6 percent,” Dung, 63, said in an interview in Hanoi on Nov. 28. He said overseas investment will rise “sharply” in the next two years as officials overhaul state enterprises and recapitalize banks.

Vietnam’s Prime Minister Nguyen Tan Dung

Slower gains in consumer prices would reduce the risk of labor strikes undermining Vietnam’s campaign to position itself as an alternative manufacturing base to China. Concern that growth has peaked after a quarter-century of market opening, and that policy makers are struggling to manage a legacy of non- performing loans, contributed to a 21 percent slide in investment pledges from abroad so far this year.

“It would help Vietnam’s image significantly” to contain inflation, said Peter Ryder, the Hanoi-based chief executive of fund manager and property developer Indochina Capital. “Clearly the fact that inflation hit 20-plus percent in two of the last four years has made people question the government’s management of the economy.”

Dung’s administration has made inroads into quelling what was Asia’s fastest inflation in 2011, at 18 percent in December from the previous year. Consumer prices rose 7.1 percent in November. The last year costs rose less than 6 percent was in 2003, according to data compiled by Bloomberg.

Growth Outlook

The nation of 89 million will see economic expansion of 5.5 percent next year, Dung, who has been prime minister since 2006, predicted in the interview at his office building known as the White House. The rate would be little changed from an estimated 5.2 percent in 2012, the weakest performance in 13 years.

Growth has slowed from the 7 percent average pace recorded since the “doi moi” market-opening reforms began in 1986 as Vietnam tightened credit to stem inflation and the rise of bad loans. Government-run banks often have been subject to political pressure to lend to favored state-owned enterprises, according to a January study from the Harvard Kennedy School.

Central bank Governor Nguyen Van Binh told the National Assembly on Nov. 13 the ratio of non-performing loans as of Sept. 30 was seen at 8.82 percent. The monetary authority aims to lower the ratio to below 3 percent by 2015, Binh said last month. Binh also has vowed to crack down on violations by groups with vested interests that manipulate bank operations.

Cleaning Up

“If the government goes about cleaning up the banking system the right way and reining in the state-owned companies, while growth would likely stay slow it’s reasonable to think that inflation would also remain under control,” said Jonathan Pincus, a Ho Chi Minh City-based economist with the Harvard Kennedy School’s Vietnam program.

Vietnam’s stocks have underperformed in the past year as its banking crisis deepened. The VN Index of shares is down about 0.6 percent over the period, compared with the MSCI Asia Pacific Index’s (MXAP) advance of 9.8 percent.

Dung, a former central bank chief, has faced domestic criticism over his management of the economy, with a rare suggestion in the Communist nation by a National Assembly delegate this month that the prime minister introduce a “culture of resignation.”

Preventing ‘Collapse’

“Vietnam is determined to restructure its banking system at the lowest cost possible, preventing any systemic collapse,” Dung said in a written response that was sent by his office after the interview.

Even amid the financial strains, some overseas lenders have boosted their presence in the country. HSBC Holdings Plc, Standard Chartered Plc, Mizuho Financial Group Inc. and Australia & New Zealand Banking Group Ltd. are among foreign banks that have bought shares in Vietnamese banks or opened branches in the Southeast Asian country.

Some foreign companies operating in Vietnam have seen their local units or suppliers affected by labor disputes. Yamaha Motor Co. halted production of motorbikes in Hanoi when 4,000 employees downed tools in March last year. They were given a pay raise to return to work. Dung asked officials and unions earlier this year to halve the number of strikes compared with 2011.

The ruling Communist Party has identified restructuring state-owned companies as one of its main areas of focus through 2015. The government has pledged to speed up a share-sale program known as equitization after delays in plans to sell stakes in enterprises such as Vietnam Mobile Telecom Services Co. and Vietnam Airlines Corp.

Stock Listings

“We encourage state companies that have sold stakes to the public to list on stock exchanges domestically and internationally,” Dung said.
A more stable economy should contribute to an increase in foreign investment next year and in 2014, the prime minister, who oversaw Vietnam’s entry into the World Trade Organization in 2007, said in the interview. “We highly welcome foreign companies to invest in and take part in the process of restructuring state-owned companies, including our banks.”

Policy makers are planning new tax policies and land regulations to make Vietnam more attractive to foreign investors, with a focus on finding companies with “value-added projects and high technology,” he said.

Intel Corp. (INTC), Samsung Electronics Co. (005930) and Jabil Circuit Inc. (JBL) are among companies that have set up or are expanding in Vietnam, spurring the nation’s exports even as foreign investment pledges have dropped this year. Shipments of mobile phones and other electronics rose 91 percent in the first 10 months of the year to $16 billion, making them the biggest source of export revenue.
Foreign Reserves

The export gains have contributed to a buttressing in Vietnam’s foreign-exchange reserves, which Dung said are expected to reach the equivalent to about 12 weeks of imports by the end of the year. Such a figure would mark an increase from the 11 weeks of imports Dung estimated in an Oct. 22 address to the National Assembly.

The Southeast Asian nation will probably ship 7.5 million tons of rice this year, Dung said in a written response. Vietnam exported about 7 million tons of the grain last year, when it was the world’s biggest rice exporter after Thailand, based on figures from the U.S. Foreign Agricultural Service.

“Foreign companies are doing well in Vietnam with their export turnover rising 30 percent in eleven months through November and accounting for about two-thirds of total exports,” the prime minister said in the written responses.

Vietnam is a central player in what’s likely to be a migration in international manufacturing from China toward Southeast Asia, according to analysts at Daiwa Capital Markets Hong Kong Ltd.

The nation, along with smaller neighbor Cambodia, is “among the best candidates to replace China as low-cost textile and clothing makers due to their low labor costs,” Sun Mingchun, chief economist for greater China at Daiwa in Hong Kong, wrote in a Nov. 27 research note.

– Matthew Winkler, Nguyen Dieu Tu Uyen, Jason Folkmanis. With assistance from K. Oanh Ha in Hanoi. Editors: Chris Anstey, Sunil Jagtiani
To contact Bloomberg News staff for this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net Jason Folkmanis in Hanoi at folkmanis@bloomberg.net;

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net

The objective of the project is to steer EVN’s operations to power generation and business to provide adequate supply for the economy and people’s daily activities.

Under the project, EVN will focus on four business lines, namely power production, transmission, distribution and business; power import-export; investment and management of investments in power plants; and management, maintenance and improvement of power devices, production lines, power facilities, power testing devices.

PM Nguyen Tan Dung has approved a Project on restructuring the Electricity of Viet Nam (EVN) in the 2012-2015 period.

EVN must restructure its business administration, focusing on amending and improving internal management mechanism, re-arranging structural organization, speeding up human resource training, enhancing internal control, speeding up scientific and technological advancements.

By the end of 2015, EVN must withdraw its capita from An Binh Bank, An Binh Securities, Global Insurance Company, Sai Gon Vina Real Estate J.S.C, EVN land central, and Viet Nam Electricity Construction Joint Stock Corporation./.

By Hai Minh

He expressed his hope that Viet Nam would share its experiences in national development, especially in poverty reduction and boost agriculture and forestry cooperation with Tanzania.

PM Nguyen Tan Dung welcomes President Ali Mohamed Shein of Tanzania’s Zanzibar , Ha Noi, November 23, 2012

On behalf of the Vietnamese Government, PM Dung spoke highly of President Ali Mohamed Shein’s visit to the Southeast Asian nation. The Government chief took the occasion to thank Tanzania for its support during the past national struggle for independence and the current cause of national development.

PM Dung stressed that Viet Nam also desires to strengthen ties with Tanzania in various fields.

Both sides agreed to continue boosting exchange of delegations at all levels to beef up bilateral cooperation, particularly in agriculture and forestry areas, facilitate business circles to expand investment into respective countries.

They also agreed to accelerate coordination and mutual support at international forums.

Earlier on the same day, President Ali Mohamed Shein held talks with Vice State President Nguyen Thi Doan./.

(VGP)

The meeting heard a report on the implementation of Decree No. 25/2007/CT-TTg issued on November 15, 2007 for the 2007-12 period presented by Deputy Minister of Public Security Lieut. Gen. To Lam, head of the ministry’s steering committee on terrorism prevention.

Speaking at the event, Dung praised anti-terrorism achievements recorded by ministries, agencies and localities, as well as feats made by the armed forces, in particular the People’s Police and the People’s Army, in the five-year fight. He said that they have thwarted all hostile forces’ terrorist and sabotage schemes, and activities targeting the revolutionary cause of the Vietnamese people.

He also pointed out advantages, risks and challenges to the fight against terrorism in particular, and the national construction and defence in the coming time.

Dung asked the ministries, agencies and localities to continue thoroughly grasping and implementing the decree, considering it a central task closely connected to their entrusted political duties.

The ministries, agencies and localities should continue promoting the combined strength of the entire political system to implement the task of preventing terrorism to maintain political stability and social order and safety, he noted.

They should grasp the situation, actively prevent and thwart all terrorist and sabotage schemes and activities by hostile forces and other criminals. They should be ready to deal with threats while building a specialised force that can cope with all possibilities, he added.

The Government leader asked the ministries, agencies and localities to popularise and educate patriotism, national consciousness, responsibilities and obligations to protect national security, and help people understand the major challenges to national defence in the new situation, such as terrorism, sabotage and political riots.

He said that official forces should pay attention to preventing e-criminals that use information technology and the Internet to sabotage the State and instigate violent disturbances.

(VNA)

Both the PMs expressed their satisfaction at developments in the comprehensive partnership, especially in economics, trade, investment, education-training and tourism, between the two countries.
They spoke highly of the expansion of linkages in labor and national defense in favor of the maintainance of regional peace, stability and development.

PM Nguyen Tan Dung (R) and New Zealander PM John Key, Phnom Penh – Photo: VGP/Nhat Bac

PM John Key affirmed that New Zealand would maintain ODA provision for Viet Nam while suggesting the two sides strengthen reciprocal visits.

The two sides agreed to hold the 4th session of the Viet Nam-New Zealand Joint Committee for Economic and Trade Cooperation.

PM Dung replied he treasured the cooperation between New Zealand and ASEAN and the country’s posititive contribution to regional and international forums.

For his part, PM John Key thanked Viet Nam for supporting New Zealand’s run for the non-permanent seat at the United Nations Security Council in the 2015-2016 period.

He noted that New Zealand would continue to work with Viet Nam in the negotiation process for the Trans-Pacific Parnership (TPP) Agreement./.

By Kim Anh (VGP)

The event drew the attendance of leaders and representatives to the East Asian Summit and heads and representatives of the World Bank, Asian Development Bank and the Internatinoal Monetary Fund.
ASEAN member states took the occasion to urge their partners and international financial organizations to assist ASEAN in realizing the goals on connectivity and regional integration.

The first-even ASEAN global dialogue, Phnom Penh, Cambodia – Photo: VGP/Nhat Bac

Addressing the event, Vietnamese PM Nguyen Tan Dung highly valued the inititive of Cambodia – the host country, on the organization of this event, regarding it as a good venue for viewpoints on global and regional economic issues and emerging challenges to be exchanged.

The event also highlighted the positive role of ASEAN and East Asia in spurring the development of a stable and prosperous region.

Viet Nam, PM Dung asserted, would play a positive role in the joint effort in line with national condition in an optional manner while still ensuring its sustainable growth.

Earlier, PM Nguyen Tan Dung and leaders of the US, Brunei, Malaysia, Singapore, New Zealand and Australia met to discuss the Trans-Pacific Partnership (TPP).

The leaders highlighted the promising importance of economic linkages within the TPP Agreement and the acquired outcomes in the negotiation process over the last three months and agreed to finalize the negotiation process in 2013.

PM Dung said Viet Nam is determined and pledges to actively contribute to the early conclusion of the negotiation process.

He suggested the member states should push forth balance agreements in favor of development and assist developing countries to deeply penetrate into the global value chains, maintain the leading role and dynamism of the Asia-Pacific Region in the world economy./.

By Khanh Phuong (VGP)

President Barack Obama (second, left) at the victory celebration

The two leaders said in a congratulatory message that they are pleased with the important progress made in Vietnam-US relations during Barack Obama’s first term. Cooperation has widely developed in many fields of politics, economics, science and technology, education-training, defence, security, as well as humanitarian activities such as dealing with the aftermath of war.

The two countries have also worked closely at regional and international levels on issues of shared concern, they said.

The leaders of Vietnam expressed their strong belief that mutual relations will be refreshed with President Obama’s second term, promoting peace, stability and development in Asia–Pacific and the world.

VNA

At a reception for New Zealand Foreign Minister Murray McCully in Hanoi on November 7, PM Dung suggested that Vietnam and New Zealand boost cooperation in politics, diplomacy, trade, investment, education and defence as well as support each other at UN and regional forums.

He also asked for New Zealand’s continued support for Vietnam’s standpoint in the East Sea issue, especially ASEAN’s six-point principle on the East Sea .

Prime Minister Nguyen Tan Dung and New Zealand Foreign Minister Murray McCully

The PM thanked New Zealand for providing ODA for Vietnam and expressed wish to receive more in the future. He also said he hopes that New Zealand will grant more scholarships to Vietnamese students.

Murray McCully told his host that he had successful talks with Foreign Minister Pham Binh Minh, from which the two sides reached a number of measures to foster bilateral ties broadly and more effectively.

He said meetings and exchanges of delegations at all levels are important to the relations between New Zealand and Vietnam, especially in economics, trade, education and training.

Source VNA

The Vietnamese leader laid stress on the issue during his talks with Russian Prime Minister Dmitry Medvedev in Hanoi on November 7 following an official welcome ceremony held at the Presidential Palace for the Russian PM on his third visit to Vietnam .

He asked for Russia allowing for the establishment of new joint ventures between Vietnamese and Russian companies in the field and their participation in projects in Russia .

Prime Minister Nguyen Tan Dung welcomes Russian Prime Minister Dmitry Medvedev

Prime Minister Medvedev assured his host of continued cooperation in finding and producing oil and gas in Vietnam’s continental shelf in the coming time.

The Russian Government will support and create the best possible conditions for the two countries’ joint venture companies to strengthen and expand cooperation in Russia, he also stated.

The two Prime Ministers spoke highly of oil and gas exploration and exploitation in both Vietnam and Russia conducted by the existing joint ventures.

In an atmosphere of friendship, trust and mutual understanding, the two PMs briefed each other of political, economic and social situation and external policies in their countries and exchanged views on bilateral relations, and international and regional issues of mutual concern.

They agreed to step up political relations through the exchange of delegations at different levels, especially the high-ranking ones, and diversify cooperation channels.

The two PMs hailed the results of the 15 th meeting of the inter-governmental committee on economics-trade and science and technology held in Moscow on October 17-19, and highly valued the achievements in the key cooperation fields, including trade, nuclear energy, oil and gas, military and technology.

Both sides discussed the orientation and measures to implement strategic cooperation projects and increase trade exchange to realise the set target of raising bilateral trade to 7 billion USD by 2015.

They stressed the importance of negotiations on the establishment of a free trade agreement between Vietnam and the Customs Union of Russia, Kazakhstan and Belarus , which are expected to be completed within two years since the scheduled launch in the first quarter of 2013.

At the talks, PM Dung asked Russia to facilitate the Vietnamese side’s establishment of joint ventures producing garments, footwear, wooden furniture, seafood and electronic products in Russia ’s Far Eastern region as well as in some other big cities.

For his part, the visiting PM affirmed that the Russian government will adopt incentives for Vietnamese enterprises which seek investment opportunities in the Far Eastern region as well as other localities in Russia.

The two sides agreed to promote cooperation in security, defence, science and technology, education and training, culture, sports, tourism, and banking as well as local ties.

The two PMs expressed their pleasure at the two countries’ collaboration and mutual support at the UN as well as at regional and international forums and organisations.

PM Medvedev said he hopes that Vietnam will continue to act as a bridge for Russia to strengthen its ties with ASEAN and Southeast Asian countries.

On the occasion, PM Dung thanked the Russian leaders and local authorities for enabling the Vietnamese community to reside and make a living in a stable manner in Russia .

He said he believes that the Vietnamese community will bring into full play their role as a bridge for the friendship and cooperation between the two countries.

PM Dung highlighted the Russian Prime Minister’s visit, the first high-ranking one since the two countries lifted their relations to comprehensive strategic partnership in July this year, as an important event, contributing to consolidating and developing the traditional friendship and comprehensive cooperation between Vietnam and Russia.

The two PMs shared the view that the outcomes of the visit will create a new, strong impulse for the Vietnam-Russia comprehensive strategic partnership.

Prime Minister Medvedev invited Prime Minister Dung to pay an official visit to Russia. Prime Minister Dung accepted the invitation. The visit will be arranged via diplomatic channel.

After the talks, the two leaders witnessed the signing of an agreement on the exploration and use of space for peaceful purpose and some cooperation documents in energy and trade and met with the press.

Source VNA

PM Nguyen Tan Dung (L) meets with French President Francis Hollande, Vientiane, Laos, November 5, 2012 – Photo: VGP/Nhat Bac

At his meeting with French President Francis Hollande, PM Nguyen Tan Dung highly spoke of France’s position as one of top economic, trade, investment partners and bilateral sponsor for Viet Nam.

The French President expected that the two nations will push up the relations more deeply and effectively in terms of science-technology, education-training and energy.

The two leaders agreed to accelerate key projects and organize the “Year of Viet Nam in France” in 2013 to celebrate the 40th anniversary of the two countries’ diplomatic relations.

They also discussed possibilities to upgrade the bilateral relations to a new height.

PM Nguyen Tan Dung (2nd from left) meets with Bulgarian President Rosen Plevneliev (2nd from right), November 5, Vientiane, Laos – Photo: VGP/Nhat Bac

In their meeting on the same day, Bulgarian President Rosen Plevneliev and PM Nguyen Tan Dung reciprocated measures to strengthen the two nations’ relations and cooperation, focusing on economy, investment, trade, energy, education-training, and health.

Mr. Rosen Plevneliev planned to pay an official visit to Viet Nam in early 2013 and this will be his first trip to Asia.

During their talks, PM Nguyen Tan Dung and Indonesian President Susilo Bambang Yudhoyono showed their pleasure at the two countries’ flourishing relations which should be further pushed up.

They pledged to direct relevant agencies to consider possibilities for bringing the Viet Nam-Indonesia relationship to a strategic partnership in the future.

They were also unanimous in enhancing solidarity within ASEAN and guaranteeing the success of upcoming ASEAN Summits.

PM Nguyen Tan Dung (2nd from left) meets with PM Jean-Claude Juncker of Luxembourg (2nd from right), Vientiane, Laos, November 5, 2012 – Photo: VGP/Nhat Bac The same day, Italian PM Mario Monti met PM Dung to talk of activities to celebrate the 40th anniversary of the two nations’ diplomatic relationship, laying the foundation for upgrading it.

Talking to his Vietnamese counterpart, Luxembourg PM Jean-Claude Juncker revealed that Luxembourg places importance on its ties with Viet Nam and will give ODA priority for the Southeast Asian country.

PM Dung asserted that Viet Nam, as the coordinator for ASEAN-EU dialogue relations since July 2012, will do its utmost to boost up the relationship between ASEAN and the EU.

In their meeting, Slovenian PM Janez Janša expected to push up the traditional friendship with Viet Nam while PM Dung treasured the completion of the Bilateral Economic Cooperative Agreement and other agreements as a legal framework for developing economic cooperation in the future.

The same day, PM Nguyen Tan Dung met with the UK’s PM William Hague.

VGP

Speaking at the opening ceremony, Lao President Choumaly Sayasone stressed that ASEM 9 helps to strengthen cooperation and connection between the two continents of the world.

The opening ceremony of the 9th Asia-Europe Meeting (ASEM 9) Summit, Vientiane, Laos, November 5, 2012

With the theme “Friends for peace, partners for prosperity”, ASEM 9 focuses on exchanging major measures to boost up cooperation in ASEM, accelerate economic recovery and deal with global challenges, confirmed the Lao President.

Giving a speech at the Summit, Vietnamese PM Nguyen Tan Dung proposed that ASEM should create a new driving force for economic cooperation through closely combining economic-finance policies and vigorously realizing the Trade Facilitation Action Plan and the Investment Promotion Action Plan.

In the process of cooperation, ASEM needs to pay due attention to development issues and inter-regional programs, narrow the development gap and balance benefits among developed and developing members, he added.

ASEM members should also further exchange their experience, shake hands in renewing development models, and develop a green economy, especially in agriculture and rural development, PM Dung proposed.

With its potential and advantages, ASEM should continue to support and make contributions to the reform of the International Monetary Fund and other international institutions towards greater efficiency, democracy and equality.

The Vietnamese PM expressed the determination of Viet Nam in stabilizing its macro-economy, curbing inflation, improving investment environment, promoting manufacture, renewing development model, guaranteeing social welfare and contributing to regional and international development efforts.

The same day, the 13th Asia Europe Business Forum opened, focusing on hot issues in economic development and strengthening trade and investment cooperation between the two continents.

VGP

According to the Ministry of Agriculture and Rural Development, several agricultural products have maintained a stable growth in both volume and value, with some commodities seeing a strong surge, including coffee, cassava and products from cassava.

Illustration photo

In the Jan.-Oct. period, the country shipped 1.4 million tonnes of coffee worth 3 billion USD, representing year-on-year rise of 37.7 percent in volume and 32.7 percent in value.

The two largest export markets for Vietnamese coffee products were the US , accounting for 12.1 percent of the export value, and Germany , which represented 12 percent.

Export of cassava and products from cassava in the period reached over 3.6 million tonnes, earning 1.13 billion USD, up 58.5 percent in volume and 38 percent in value against the same period last year.

Vietnam’s tea export saw positive signal with 110,000 tonnes shipped during ten months, worth 182 million USD, year-on-year increases of 9 percent in volume and 8.8 percent in value. Pakistan remains the largest importer of Vietnamese tea.

Wood and wooden products also saw a large increase of 19.3 percent in export value for the first 10 months of this year, earning 3.8 billion USD.

Most major export markets for Vietnamese wood and wooden products showed strong growth: 28.7 percent in the US , 19.7 percent in Japan and 7.2 percent in China .

Meanwhile aquatic products registered only a slight increase of 1.7 percent in export value to over 5 billion USD.

However, export of this commodity was forecast to be up in remaining months of this year because of the increasing demand of importing countries.

Rice and rubber were the only key export products to see increases in export volume but reductions in export value during the first ten months.

Rice had a year-on-year surge of 8.3 percent in volume to 6.9 million tonnes but a year-on-year decrease of 8.7 percent in value to 3.14 billion USD. The average export price fell 9 percent to 452 USD per tonne compared with the same period last year.

Rubber earned a total 2.3 billion USD from an export volume of 811,000 tonnes. The decrease of 8.7 percent in earnings was attributed to falling prices in the world market since early this year.

VNA

As he juggled his governing duties with his re-election effort, President Barack Obama said the heavily populated East Coast could face power failures and other disruptions for several days.

“Don’t anticipate that just because the immediate storm has passed that we’re not going to have some potential problems in a lot of these communities going forward through the week,” Obama said after a visit to the federal government’s storm-response center.

Romney rerouted his campaign from Virginia to join his vice presidential running mate Paul Ryan in Ohio, one of the handful of battleground states that will decide the outcome of the November 6 election.

“You are the battleground of battlegrounds. You get to decide,” Ryan told a crowd of 1,000 people who were not able to join 2,000 others in a high school gymnasium in Celina, Ohio.

Obama later flew to Florida for a campaign stop. Like Romney, he canceled events in Virginia, a battleground state that could bear the brunt of the storm’s impact. Obama canceled plans to campaign in Ohio after Monday’s event in Florida, opting to return to the White House instead.

“I’m not going to be able to campaign quite as much over the next couple of days,” Obama told volunteers at a local campaign office in Orlando late on Sunday. “So you guys gotta carry the ball!” he said to cheers.

Both campaigns also canceled events in New Hampshire, which could face high winds and heavy rain.

“The last thing the president and I want to do is get in the way of anything. The most important thing is people’s safety and people’s health,” Vice President Joe Biden told campaign volunteers in Manchester, New Hampshire, before leaving for Ohio.

Officials in the path of the storm scrambled to ensure that extended power outages would not disrupt the early voting that appears to be critical for both candidates this year.

Obama said he did not think the storm would impact voting, but some on his campaign staff were not so certain.

“Obviously we want unfettered access to the polls because we believe that the more people that come out, the better we’ll do,” top Obama adviser David Axelrod said on CNN.

Republican Virginia Governor Bob McDonnell said his state plans to extend early voting hours and restore power quickly to election facilities in the event of outages.

Officials in neighboring Maryland said early voting stations would close on Monday.

Winds of uncertainty

The looming storm threw another note of uncertainty into a race that remains a statistical dead heat.

The vast majority of voters have made up their minds at this point, and more than one in five have already cast their ballots. But the storm could throw a wrench in the campaigns’ efforts to drive voters to the polls in the final days before the election and will require them to ensure that their armies of door-knocking volunteers stay safe.

An extended power outage could sideline millions of dollars worth of television advertising that is set to saturate the airwaves in the final days of the race.

It also scrambles their efforts to schedule rallies in the handful of states that are likely to decide the outcome.

“The poll numbers aren’t changing that much and I don’t think the storm is going to change that dynamic. It’s just going to present logistical challenges for the campaign,” Hunter College political science professor Jamie Chandler said.

A severe disruption could hurt Obama more than Romney because his campaign has counted on early voting to lock up the support of those who may be less likely to vote on Election Day, Chandler said.

Officials from both campaigns said they were confident they would be able to get their message out and drive voters to the polls over the coming days. But they recognized that, after years of obsessive planning and nearly $2 billion in campaign expenditures, the storm had introduced a last-minute element of chaos.

“There’s certain things we can’t control and nature is one of them. We try to focus on the things that we can control,” Romney adviser Kevin Madden told reporters.

There is some evidence that natural disasters can hurt an incumbent’s re-election chances as voters often blame whoever is in office for adversity.

Research by Larry Bartels of Vanderbilt University and Christopher Achen of Princeton University found that Vice President Al Gore may have lost the election in 2000 because of severe drought and excessive rainfall in seven states.

Bush’s approval ratings plummeted after Hurricane Katrina devastated New Orleans in 2005, and voters could similarly blame Obama if the government fumbles its response to this storm.

But there are also dangers for Romney, who will have to be careful to avoid being seen as politicizing the disaster. His campaign’s hasty response to the attacks on U.S. diplomatic missions in the Middle East in September was widely criticized.

The Obama campaign said it would suspend fundraising e-mails in the mid-Atlantic region on Monday and encouraged supporters to donate to the Red Cross.

Opinion polls show the race to be essentially tied at the national level.

A Reuters/Ipsos tracking poll released on Sunday found Obama leading Romney among likely voters by 49 percent to 46 percent, within the online survey’s credibility interval. Among all registered voters, Obama held a wider lead of 51 percent to 39 percent.

However, Obama retains a slim advantage in many of the battleground states that will decide the election.

A Washington Post poll released on Sunday found Obama leading Romney by 51 percent to 47 percent in Virginia, just outside the poll’s margin of error.

In Ohio, a poll by a group of newspapers found the two tied at 49 percent each. Other polls have shown Obama ahead there.

Romney received the endorsement of Iowa’s largest newspaper, the Des Moines Register, which has not backed a Republican since 1972. He also won the endorsement of newspapers in Richmond and Cincinnati.

Obama won the endorsement of newspapers in Miami, Detroit and Toledo, Ohio, as well as The New York Times.

REUTERS

Major papers like Matichon, Phuchatcan, Thairath and The Nation said that the two countries signed three documents, including the Joint Statement on Thailand-Vietnam Security Outlook for 2012-2016 and a memorandum of understanding (MOU) on the establishment of the Thailand – Vietnam and the Vietnam-Thailand Business Councils.

Prime Minister Nguyen Tan Dung and his Thai counterpart Yingluck Shinawatra

According to The Nation, Prime Ministers Yingluck Shinawatra and Nguyen Tan Dung held bilateral talks about the possibility of upgrading Thai-Vietnamese relations into a strategic partnership as well as on other issues, including food, energy, agriculture, ASEAN unity, handling economic crises and natural disasters.

The two PMs agreed that there should be more cooperation channels, not only bilateral or multi-party ones, but also at the ASEAN and international levels. They agreed to set up joint committees to push forward the strategies and hold more bilateral or multi-party talks on rice trading.

Thailand welcomed Vietnam ‘s acceptance to join the tri-party meeting on rubber trade that Thailand will be hosting in December. Vietnam supported Thailand ‘s role in ASEAN and in solving the East Sea dispute.

The Nation cited Yingluck as saying that she took this opportunity to move forward rice and rubber cooperation with Vietnam in order to jointly coordinate on stabilising rice and rubber prices, which is beneficial to both sides.

Source VNA

He was speaking at the Cabinet’s monthly regular meeting in Hanoi on October 28 to review the country’s socio-economic performance in October and the past ten months.

Prime Minister Dung and his cabinet members agreed that the socio-economic situation in October and in the first ten months of the year continues to see positive changes and be on the right track to achieve the set targets.

Prime Minister Nguyen Tan Dung

Measures to rein in inflation and stabilise the macro economy continue to prove efficient, they said.

The consumer price index in October increased by 0.85 percent against September, up 6.02 percent compared to December last year and 7 percent over the same period last year, much lower than the growth rates of previous months.

Meanwhile, industrial production rose 5.8 percent and export was up 4.4 percent compared to September.

However, the cabinet members noted that the country’s socio-economic situation still faces difficulties and challenges with the macro economy not being really stable.

They suggested further, proactive deployment of measures to manage inflation, make the macro economy grow in a stable way and remove difficulties for enterprises, as well as ensure social security, sustainably reduce poverty and reinforce the corruption fight.

Concluding the meeting, PM Dung asked ministries, branches and agencies to keep a close watch on the situation and try their best to fulfill the set socio-economic targets for 2012, thus creating a firm premise for 2013 and the coming years.

The targets of curbing inflation and stablising the macro economy need to be implemented drastically and synchronously, he emphasised.

“The State Bank of Vietnam is determined to restructure its banking system and will be open and transparent in doing the work. Besides, it will continue taking measures to deal with bad debts effectively in a drastic and strict way, together with completing a master plan on bad debt settlement as soon as possible,” PM Dung said.

He asserted that the State Bank will keep a close eye on the gold market and implement related policies in a clear and transparent manner.

He instructed the ministries, sectors and localities to speed up capital disbursement for projects using State budget, Government’s bonds and investment from national target programmes.

The ministries and sectors continue solving difficulties and creating all possible favourable conditions to spur production and business, especially in the fields that the country has advantages like agriculture, tourism and services, the PM elaborated.

Along with that, attention needs to continue for ensuring social welfare and combating corruption, he added.

Source VNA

The two countries reached the agreement at the second Vietnam-Thailand Joint Cabinet Retreat, which took place in Hanoi on October 27 under the co-chair of Prime Minister Nguyen Tan Dung and his Thai counterpart Yingluck Shinawatra.

Prime Minister Nguyen Tan Dung meets Thai Prime Minister Yingluck Shinawatra.

The two sides worked out directions for the development of bilateral cooperation in various fields, ranging from strategic issues concerning politics, economy, national defence and security, to specific questions such as the care for children and mothers, and the teaching of Vietnamese and Thai languages in each country.

Both countries re-affirmed that they will not allow any hostile individuals and forces to conduct activities in their own country against the other country, while promoting cooperation in the fight against trans-national crimes and terrorism, in both bilateral and multilateral frameworks.

The two prime ministers committed to boosting economic, trade and investment cooperation towards the goal of 18 billion USD in two way trade by 2015. The two countries will strengthen cooperation in rice production and export, rubber development, energy and transportation.

They agreed to step up investment cooperation and connectivity in the East-West Economic Corridor, and accelerate the signing of an agreement on labour cooperation, while boosting ties in culture, education and training.

The two sides also discussed their cooperation in regional and international frameworks, especially the building of an ASEAN of solidarity and stability, heading to the establishment of an ASEAN Community in 2015, as well as some regional issues of mutual concern.

Touching upon recent developments in the East Sea, the two PMs stressed the importance of peace, stability, maritime security and safety, as well as the settlement of disputes by peaceful measures with respect for international law and the 1982 UN Convention on the Law of the Sea, as well as full implementation of the Declaration on the Conduct of Parties on the East Sea, the ASEAN declaration on the six-point principle on the East Sea, towards an early conclusion of a Code of Conduct on the East Sea.

At the end of the meeting, the two sides inked three documents, which were a joint declaration on the second Vietnam-Thailand Joint Cabinet Retreat, a joint declaration on the Thailand-Vietnam security vision for the 2012-2016 period, and an agreement on the establishment of the Thailand-Vietnam and Vietnam-Thailand business councils.

Source VNA

At a reception for visiting French Minister of Labour Michel Sapin in Hanoi on October 26, the PM thanked France for its ODA to Vietnam in vocational training.

PM Nguyen Tan Dung receives French Labour Minister Michel Sapin

He expressed his wish that the French Government will join Vietnam’s efforts in developing bilateral cooperation, especially in economics, trade, investment, education and training, science and technology.

The two sides should cooperate in organising activities to celebrate the 40 th anniversary of Vietnam-France diplomatic ties in 2013 as well as strengthen coordination at international forums, he said.

Dung took the occasion to extend his invitation to French President Francois Hollande to visit Vietnam next year.

Sapin, who is in Vietnam to attend the 4 th ASEM Labour and Employment Ministers’ Conference, affirmed that the French Government wants to promote cooperation with Vietnam in all aspects./.VNA

PM Nguyen Tan Dung and PM Yingluck Shinawatra

Prime Minister Nguyen Tan Dung and his Thai counterpart, Yingluck Shinawatra, will co-chair the event, the ministry further said in a communiqué issued on October 23.

Source VGP

Prime Minister Nguyen Tan Dung made the statement at a reception in Hanoi on October 24 for Pratibha Mehta, UN Resident Co-ordinator in Vietnam.

Prime Minister Nguyen Tan Dung receives UN Resident Co-ordinator in Vietnam, Pratibha Mehta

PM Dung informed the guest of Vietnam’s achievements of curbing inflation, stabilising the macro-economy and ensuring social welfare over the past time.

Vietnam is forecast to maintain this year’s growth at 5-5.2%. During the year, the country’s rate of poor households was reduced by 1.7% while the unemployment rate stood at 4%, PM Dung said.

He added that the country is focusing its efforts on restructuring the economy, ensuring the sustainable growth and social welfare, especially creating more fairness in accessing healthcare and social services among the poor households.

The PM said he hopes the UN will assist Vietnam in coping with climate change and rising sea level, and pledged to create favourable conditions for the UN representative agencies to operate effectively.

Mehta said Vietnam is always an active and responsible member of the UN since it joined the international organisation 35 years ago. In particular, Vietnam is recognised as one of leading countries in implementing the MDGs.

The UN will always support Vietnam in achieving its development goals, Mehta said.

(VNA)

Dung told the conference, themed ‘Social protection and employment – A key to sustainable and inclusive growth’, that it is an opportunity for the participants to discuss their experiences, promote cooperation and strengthen the role of the Asia-Europe talks in this field to step up the economic recovery and ensure sustainable development.

Prime Minister Nguyen Tan Dung

He said that Vietnam , with its population of nearly 90 million, plays an important strategic role in Southeast Asia as a member of the WTO and other regional and international economic and trade mechanisms. He went on to state that the country always treasures cooperation with ASEM member countries, particularly in the fields of labour, employment and social welfare.

Developing the economy in line with ensuring social welfare is one of Vietnam ’s long-term policies, said Dung.

The Vietnamese Government has finalized a number of policies and implemented several measures in employment and vocational training to develop human resources and ensure social welfare, he added.

The PM emphasised that Vietnam is impressed with ASEM’s initiatives to foster cooperation in this field and promote inclusive growth, adding that besides the achievements, there is still room for ASEM member countries to boost cooperation, as the forum accounts for 60 percent of the world’s population and 55 percent of global GDP.

Dung suggested that in the future, ASEM should step up cooperation and concentrate on policy building to enable the legal system on labour and social protection to be completed. The capacity to cope with challenges and changes also needs strengthening as well as linking social protection and the creation of stable jobs to the shifting models of growth, to fulfil the millennium goals.

He also stressed the need for more cooperation amongst ASEM member countries in specific areas, such as job generation and vocational training, and prioritising vulnerable groups such as young and disabled people.

Dung stated that Vietnam will do it utmost to consolidate friendship and cooperation amongst ASEM member countries, which will contribute positively to peace, stability, cooperation and development in the region and the world.

The previous ASEM Labour and Employment Ministers’ Conferences were held in Germany’s Potsdam, Indonesia’s Bali in and Holland’ Leaden, to implement the ASEM leaders’ conclusions at the ASEM Summit in October 2010 which was held in Belgium.

The conference has two discussion sessions that will focus on policies to create employment, including youth and other vulnerable groups, and pinpoint future challenges to social protection, the social responsibilities of enterprises and health and safety issues in the work place.

Source VNA

The Vietnamese leader suggested that the Viet Nam-Panama Investment and Trade Cooperation Agreement should be signed as soon as possible while an intergovernmental committee for bilateral cooperation should be established.

Panamanian President Ricardo Martinelli Berrocal (L) and PM Nguyen Tan Dung, Ha Noi on October 25, 2012

The PM expressed his hope that Panama will support peace, stability and free maritime navigation in the East Sea.

President Ricardo Martinelli Berrocal, in his turn, said that he expects to consolidate and strengthen multi-faceted with Viet Nam through his first visit to the Southeast Asian country.

He highly appreciated the Vietnamese PM’s proposals for bilateral cooperation, pledging to put these proposals into reality, trying to reach an investment and trade agreement by late 2012.

The guest leader also asked Viet Nam to share experience of rice production and coffee cultivation.

Panama is ready to shake hands with Viet Nam in building ports, said President Ricardo Martinelli Berrocal. He also suggested the two countries enhance educational cooperation by exchanging students, teachers and lecturers.

Xuan Hoang (VGP)

PM Nguyen Tan Dung receives Chinese Minister of Public Seucurity Meng Jianzhu, Ha Noi, October 23, 2012

He urged the two Ministries of Public Security would strengthen bilateral cooperation and affirmed the Vietnamese Government’s support for the relations.

Viet Nam also attaches importance to enhancing cooperative ties with China for the interests of the two countries, the Government chief stressed.

He also took the occasion to thank China’s valuable assistance for Viet Nam in the past struggle for national liberation and current socio-economic development cause.

PM Dung pointed out that there still exists differences over sea issue between the two countries, thus both sides need to discuss to find out proper and long-term solutions to the issue on the basis of agreements reached by their high-ranking leaders and international law, not to let the East Sea issue affect the bilateral cooperation.

Minister Meng Jianzhu said the two countries have closely cooperated in fighting drug crime, human trafficking, swindle, weapon smuggling, high-tech crime and others.

Meng Jianzhu affirmed that his ministry will spur cooperation with Vietnamese Ministry of Pubic Security in order to contribute to boosting the friendship and cooperation between the two neighbors.

By Huong Giang (VGP)

In the report, the Government chief provided many details and figures relating to the socio-economic situations in the first 9 months of 2012, focusing on six fields: (1) reining in inflation and stabilizing macro-economy; (2) economic restructuring; (3) guaranteeing social security and welfare; (4) culture, education, technology and environment protection; (5) administrative reform, anti-corruption and thrift practice; and (6) diplomatic work and national defense.

PM Nguyen Tan Dung delivers the Government's report on socio-economic situation in 2012

PM Dung also pointed out weaknesses in each and every of these fields and recognized that at least five preset goals – GDP growth rate, development investment capital, job generation, poverty reduction, and forest coverage – have not been fulfilled.

In the report, the Government proposed general targets for 2012, continuing to highlight macroeconomic stability, low inflation and higher growth, with many specific indicators.

- Economic indicators: GDP growth rate: 5.5%. Export turnover increase: about 10%. Trade surplus: 8%. Budget overspending: not over 4.8% of GDP. CPI increase: 8%. Total development investment capital: 30% of GDP.

- Social indicators: Poor households reduced by 2% nationwide and 4% in poor districts. New job generation: 1.6 million, urban unemployment rate: below 4%, trained laborers: 49%. Malnutrition of below-5-year-olds: below 16%. Number of hospital beds: 22 per 10,000 people.

- Environmental indicators: 84% of polluters are punished; 75% of industrial parks and export processing zones have their own standard sewage treatment stations. Forest coverage: 40.7%.

To fulfill the above-mentioned targets, the Government put forth a number of solutions which should be drastically implemented in the time to come.

It is noteworthy that, before concluding the report, PM Nguyen Tan Dung confirmed that he himself, as the Government chief, seriously took the political responsibility to the NA, the Party and people for the Government’s weaknesses and wrongdoings, especially in monitoring and controlling the performance of economic groups and State-owned enterprises (SOEs).

“Some SOEs like Vinashin and Vinalines proved ineffective in their performance, made many mistakes, causing serious losses and consequences in various fields, leading to negative impacts on the State economic sector’s prestige and role,” the PM admitted.

PM Dung emphasized that the whole Cabinet, the PM and each Cabinet member will be strict with themselves, consolidate their solidarity and spare no effort to overcome weaknesses and undertake all assignments for the sake of the country and people.

Source VGP

Voters expressed their belief in the high resolve of the Party, State, National Assembly and Government in curbing inflation to maintain economic growth, ensure social security and national defence and security.

Prime Minister Nguyen Tan Dung speaking at the meeting

They proposed the Government to give more empowerment and issue a special mechanism allowing HCM City National University to conduct a new educational method in a pilot basis.

The voters also raised their voice on amendments to the anti-corruption law, the country’s sovereignty, and public servants’ salary and living conditions.

At the meeting, PM Dung briefed the voters on the country’s socio-economic development. The country registered an economic growth rate of 4.73 percent in the first nine months of this year. Consumer price index in the reviewed period rose 5.13 percent. The poverty rate households is expected to fall 1.76 percent for the whole year.

Besides, 1.13 million new jobs were created in the January-September period, up 0.27 percent compared to same period last year.

However, five of 15 goals set for this year have been not met yet, he said.

According to the PM, further maintaining macro-economic stability with lower inflation rate and higher economic growth is expected to be defined as the general goal for 2013.

Besides, the country will push up the implementation of three strategic breakthroughs combined with economic restructuring and growth model shifting.

Applauding the voters’ proposal on mechanism for the university, the PM stressed that education development is one of three breakthroughs for the country to develop in rapid and sustainable manner. He asked the university to build its plan to submit it soon to the Government for approval.

Source VNA