Briefs

The signing of a framework agreement on credit co-operation between the Vietnamese and Hungarian governments is an important landmark in the two countries’ diplomatic activities this year, said Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh during a meeting on Wednesday with Balogh Csaba, minister of state at Hungary’s Ministry of Foreign Affairs and Trade.
Minh highly valued the two governments’ efforts in speeding up the finalisation of this agreement, which is worth 440 million euros (US$466.84 million,Bt16.5 billion). He said the deal is good preparation ahead of an official visit to Vietnam slated for April by Hungarian PM Viktor Orban.
With this framework agreement, the two sides will implement many co-operation projects in the spheres of Hungary’s strength and Vietnam’s demand, such as water resources management, wastewater treatment, information technology, cyber security and healthcare, he noted.
He also spoke highly of co-operation mechanisms at all levels between the two countries, adding that the vice speaker of Hungary’s parliament will visit Vietnam soon and his country is also ready to welcome the Hungarian PM this April.
He said bilateral trade remains low and is yet to match the countries’ potential and expectations. Hence, it is necessary to review the implementation of the minutes of the sixth session of their joint committee on economic co-operation to design new co-operation programmes in preparation for the seventh session, scheduled for March in Hungary.
  At the meeting, the officials also acknowledged the role of Vietnamese people who were trained in Hungary in bolstering bilateral ties and mutual understanding. - Viet Nam News

Lao sub-contractors, 
input wanted for project 
Chinese contractors have been asked to employ Lao technicians and companies and use materials available locally in the construction of the Laos-China railway.
The chairman of the Laos-China Railway Project Management Committee, Lattanamany Khounnivong, on Wednesday called for Chinese contractors to hire Lao companies as sub-contractors for the construction of the US$5.8 billion (Bt 205 billion) project.
 Lattanamany, who is Deputy Minister of Public Works and Transport, made the comment at a meeting in Vientiane to issue guidelines for the construction of the 417 kilometres railway, which will link Vientiane to the Chinese border.
Representatives from Chinese contractors, consulting firms, Laos-China Railway Co Ltd and various officials attended the meeting.
Lattanamany suggested that contractors promptly submit proposals requesting the import of machinery, materials and other items needed for construction so that Lao authorities can facilitate the process.
 He called for contractors and consulting firms to apply a high level of professional ethics during the course of construction so the railway would be of a high standard and a symbol of friendship and cooperation between Laos and China. - Vientiane Times

Vietnam’s PM urges 
more MPI renovation
Vietnam’s Prime Minister Nguyen Xuan Phuc has urged the Ministry of Planning and Investment (MPI) to renovate its thinking and management to better play its key role in promoting socio-economic development.
Phuc said at a conference on Wednesday that renovation, although difficult, is vital, especially for the MPI, which is in charge of compiling the economic restructuring project.
“More than anyone, the MPI must pioneer the process of restructuring,” he said, stressing the role of the ministry as a chief economic architect.
As the economy had made a drastic transition to a market-based model, planning must be based on the spirit of creating a dynamic Government, not for convenience in management.
“The planning must be in the national interest and eliminate special interest groups. Short-term benefits could not conflict with long-term strategies,” Phuc said. Accordingly, in planning, the ministry must listen to contributions and comments from experts, citizens, businesses, and private and foreign investors.
Phuc cited statistics that state investment accounted for more than one third of total investment in the economy – an unreasonable proportion, which might lead to wastage of resources.
The MPI should be the chief architect of the economy, who can develop the best design with limited resources, Phuc said, adding that the policies should aim at better raising social resources, which remain largely untapped.
Phuc stressed that investment and planning must promote inclusive growth.—Viet Nam News