HA NOI — Amid the world economic recession, the Vietnamese Government was pursuing the right policies in ensuring long-term sustainable growth instead of prioritising rapid growth, but the country needed to do more to minimise its adverse effects on the economy, economists said yesterday at the second Viet Nam Economic Forum.

The forum entitled "Sustaining the Growth" attracted more than 600 domestic and foreign economic experts, policy makers and businesspeople who discussed changes in the world financial system, their impacts on Viet Nam’s economy as well as solutions to deal with existing financial, human resource and infrastructure problems.

In his opening speech, Permanent Deputy Prime Minister Nguyen Sinh Hung said Viet Nam had made great efforts to curb inflation and control the trade deficit during the past time.

HA NOI — Viet Nam has set reining in inflation and implementing social welfare policies as its first and second priorities amid the current global financial crisis, said Permanent Deputy Prime Minister Nguyen Sinh Hung in Ha Noi yesterday while meeting the head of the United Nations Conference on Trade and Development.

Hung discussed the impact of global issues on the Vietnamese economy with UNCTAD Secretary General Supachai Panitchpakdi.

"When striving to curb inflation, the Vietnamese Government is sustaining growth because without growth the situation would be even worse," he said.

HA NOI — The Ministry of Industry and Trade (MIT) has suggested that six to nine-seat vehicles should be subjected to a lower special consumption tax to boost the local automobile industry.

In an official document sent to the National Assembly’s Standing Committee last week, the ministry said they should be taxed 10 per cent less than cars with less than five seats – and 10 per cent lower than that outlined in a draft proposal by the Ministry of Finance (MoF).

This would mean, depending on cylinder size, six-to-nine-seat cars paying a 40 per cent tax instead of 50 per cent as proposed by the MoF. And it would set them apart from six-to-15-seat vehicles presently taxed at 30 per cent.

MIT Deputy Minister Bui Xuan Khu argued the six-to-nine seat cars were multi-functional and mainly served family needs, therefore promoting their use fitted in with the country’s infrastructure.

HA NOI — While authorities work to ease the consequences of flash floods in Tung Chin Hamlet, Lai Chau Province, two photographers’ efforts have been recognised in bringing the tragedy to the public’s eyes.

Photographers Xuan Truong and Thong Thien’s work in capturing the devastation that swept over the area took the special prize in the Golden Moment press photography contest yesterday.

The contest, organised for the first time by the Vietnam News Agency (VNA) and funded by Nokia, attracted 3,000 photos from 409 photographers nation-wide. It aimed to enhance the quality of journalistic photography and promote the role of press photography in society as a whole.

According to the jury, the winning series was selected because of its timely depiction of the violent devastation of flash flooding last month that completely washed away the Tung Chin

HA NOI — Forty-five artists are taking part in an international percussion music festival that started yesterday in Viet Nam.

The festival, titled Cracking Bamboo, saw participants gather from Asia and Europe in Ha Noi from September 15-22. The musicians are working in three mixed ensemble groups to create a 35-40 minute programme comprised of solo contributions, improvisation and short composition.

The resulting program-me will be performed in concert today at the Goethe Institute, on Thursday at the French Cultural Centre, and on Friday and Saturday at the Ha Noi Opera House.

The three ensemble groups will then form new groups for the second phase, in order to give participants an opportunity to work with different artists.

HCM CITY — The World Bank would consider a loan of up to VND4,000 billion (US$241 million) to modernise agriculture in the Mekong River Delta if the Government decides to send such a plan to the bank for approval, said a World Bank official.

At a seminar in the Cuu Long (Mekong) Delta city of Can Tho last Friday, Severin Kodderritzsch, co-ordinator of the bank’s Rural Development and Resource Management Programme in Viet Nam, said the bank loan would help promote sustainable agricultural development.

Vu Cao Minh, head of the Ministry of Agriculture and Rural Development’s (MARD) Planning and Investment Department, was quoted by Sai Gon Giai Phong newspaper as saying that this was a special priority programme for the area, the country’s agricultural heartland.

The Government plans to issue bonds to raise capital for the ailing system.

Ha Noi — Viet Nam attached importance to multifaceted co-operation and enhancing relationships with Peru, especially in the economy, trade and investment, said State President Nguyen Minh Triet at a meeting with Peru’s Ambassador to Thailand cum Viet Nam Carlos Velasco Mendiola in Ha Noi yesterday.

The State President spoke highly of Peru’s efforts in organising APEC 2008 and expressed support for topics to be discussed at APEC 2008 Economic Leaders’ Meeting.

As a developing economy, Viet Nam paid special attention to the role of education in socio-economic development, President Triet stressed.

Viet Nam was also interested in how to boost trade and investment co-operation with APEC members, disaster prevention and handling of emergencies, and APEC reform, he added.