By the end of August 2006, Japan had 677 valid investment projects in Vietnam with a total registered capital of US$6.8 billion, ranking third among the largest foreign investors in the country after Singapore and Taiwan. However, Japan is taking the lead in terms of disbursed capital reaching nearly US$4.7 billion.

Trade Minister Truong Dinh Tuyen stressed that though Vietnam is developing at a low level with its economy being in the transitional period, many of Vietnam’s commitments are even higher than those from other WTO member countries.

President of the Slovak Republic Ivan Gasparovic begins a three-day official visit to Vietnam on October 16 at the invitation of his Vietnamese counterpart Nguyen Minh Triet. The visit is considered an important event to help promote the fine political relations between the two countries.

The Democratic People’s Republic of Korea’s nuclear test on October 9 has sparked strong reaction from the international public. In their judgement, the US and other nuclear powers should also be held responsible for Pyongyang’s act.

The second visit to Laos by Party General Secretary Nong Duc Manh shows the Vietnamese Party and State’s consistent policy of attaching great importance to the consolidation and strengthening of traditional friendship, special solidarity and comprehensive cooperation between the two countries in the new situation.

In the past seven months of this year, the equitisation of State-owned Enterprises (SOEs) fell short of the target set for 2006. There is no doubt that equitisation aims to increase the efficiency and competitive capacity of SOEs. But that is not the only reason behind the process of equitising SOEs en mass because equitisation is no more than a tool for SOE restructuring.

The 10th National Party Congress pointed out in its resolution that “Vietnam should actively broaden outlets to promote exports, while opening up the domestic market including service industries to attract investment, advance technologies and management skills to make the national economy more effective and competitive”.

The first visit to Vietnam by Czech President Vaclav Klaus marks a new step of development in the relationship between Vietnam and the Czech Republic and provides a good opportunity for the two countries to further promote bilateral cooperative relations for the sake of peace, stability and development.

As a member of the Francophone community, Vietnam has always played its active role in boosting cooperation and friendship with other member countries. Since the seventh successful Francophone Summit in Hanoi, relations between Vietnam and other member countries in the community have taken new steps of development.

When facing certain disadvantages in competition in the World Trade Organisation (WTO), Vietnamese enterprises will find it difficulty to claim on equality. Only crafts associations will have a strong say to protect equality for enterprises.