Vietnam Records Boom In Growth
By Suria Rina PHA

Bandar Seri Begawan - Hundreds of diplomatic corps, senior government officials and guests Saturday turned up for a reception to mark Vietnam's 61st anniversary of independence.

The momentous celebration was held at one of the leading hotels in the capital, during which guests were treated to an array of delicacies.

Present as guest of honour was Minister of Finance 11 Pehin Orang Kaya Laila S etia Dato Seri S etia Haji Awang Abdul Rahman, who was accompanied by his spouse Datin Hajah Sapiah.

In his welcoming speech, Socialist Republic of Vietnam Ambassador Ha Hong Hai said, "September 2, 1945 marked a very historical moment for the Socialist Republic of Vietnam, and this year marks the country's 61st anniversary.

"Constantly following the renewal and open-door policy since 1986, Vietnam has recorded great achievements in all fields - high economic growth, improved living standards, political and social stability, foreign relation expansion and enhanced position," he said.

In spite of numerous difficulties caused by diseases, natural disasters, increase in petroleum prices and new trade barriers, Vietnam's economic development continued to achieved satisfactory results in the first seven months of this year, with high growth rates in the main sectors.

"Vietnam's economy recorded a 7.5% increase in the first half of 2006, showing a stable socio-economic development trend. The most prominent is the strong increase in foreign investments with a total investment capital of US$2.77 billion, a 32% increase over the same period last year," the ambassador added.

"The export sectors also saw marked growth with an export value of over US$22.3 billion - the highest ever rate and 3.5 times the GDP growth. In this period, Vietnam welcomed more than 2.1 million foreign visitors," he said.

Later, the ambassador revealed to guests that this year will be a busy one for Vietnam as it will host the APEC- 14 summit.

"APEC 2006 indeed presents a great opportunity for Vietnam's international integration. APEC member countries. are now the largest investors in Vietnam, accounting for 65.6% of the total investment capital.

"The APEC 2006 Summit will be the biggest international event ever to be held in Vietnam. There will be more than 100 conferences and relevant events held during the year," he added.

Meanwhile, two major APEC-related events - the ABAC (APEC Business Advisory Council) and APEC CEO (Chief Executive Official) Summits - will see the participation of thousands of CEOs from the 21 APEC member economies.

Vietnam is also expected to join the WTO before the APEC Summit to be held in Hanoi this November.

Later, the ambassador expressed his satisfaction with the bilateral ties -between Vietnam and Brunei Darussalam - over the past year. He hopes such ties will further develop in the future. -- Courtesy of Borneo Bulletin

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