Minister of Transport and Communications Ho Nghia Dung admitted shortcomings in his ministry’s responsibility for the low disbursement rate in transport construction projects over the recent past.
He spoke of the ministry’s weaknesses which had resulted in the low disbursement rate of capital in State, foreign-invested and official development assistance (ODA) projects. He added that contractors’ weak financial capacity, shortcomings in site clearance, construction material price hikes and difficulties in implementing the new regulations of the Laws on Bidding and Construction had also slowed down the disbursement rate.
Regarding the increase in the number of traffic accidents and congestions in urban areas, he said dissemination work and strict punishment are considered effective solutions to the problem.
Regarding the Can Tho bridge collapse, Minister Dung said that the investigation is underway to find out the cause of the collapse and define the responsibility of those concerned. Vietnam is hiring a foreign consultation company to review the project’s technical design, Mr Dung said.
Speeding up exports to narrow trade deficit: Minister Hoang
Controlling trade deficit is one of “hot” issues raised by National Assembly deputies while questioning Minister of Industry and Trade Vu Huy Hoang.
At the session, Minister Hoang said economic development demands and world price hikes, particularly the increasing prices of imported products such as steel, fertilizer, plastics, petroleum and fibre, are key reasons behind the problem.
The minister admitted that shortcomings remained in forecasting the market, the economy’s demand and both positive and negative impacts of the country’s accession to the World Trade Organisation (WTO) on business activities.
He said that speeding up exports is one of key measures to reduce trade deficit.
Besides traditional products, local businesses should turn out more potential commodities such as farm and mineral products, and to focus on exporting key staples such as garments and textiles, footwear, furniture, electronics, agricultural and aquatic products, and particularly high-tech products.
Additionally, developing support industries for the production of machinery, equipment and materials would also help to cut down imports, Minister Hoang said.
According to the minister, by 2015, Vietnam will not have to depend too much on imports as a series of oil refineries and steel ore plants across the country will be put into operation.
Minister Hoang emphasized the importance of building technical barriers and applying measures to help local sectors and producers meet WTO regulations and fulfil the commitments Vietnam has made to protecting domestic products.
According to the minister, the export vision is bright with a 20 percent growth rate of many key staples. “This is an important achievement, particularly after one year since Vietnam joined the WTO,” he said.
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