Decisive role for Premier Nguyen Tan Dung

Having espirit fort towards challenges, bravery against “hang in the single hair” situation, PM Nguyen Tan Dung holds a special influences over the future of Vietnam’s economic renovation.

PM Nguyen Tan Dung

PM Nguyen Tan Dung

As noticed by the recent regular Press Conference for the first 8 months of 2013, the Office of Government has pointed out that Vietnam’s economy has revealed a bright sight. A fairly stable macroeconomy has achieved, inflation has been controlled, bank interest has declined, credit growth has been in a good trends, challenges in production and trading sectors have been partly resolved; industrial outputs, particularly process and manufacturing industries have steadily been improved, export maintains a higher growth pace against plan, trade deficit was low, social security and benefits have been kept intact, political and public security have been well managed.

A poor “scenario” did not occur in Vietnam’s economy, despite bad debt issue last year casted a dark background on financial, banking picture. Confidence has pulled investors back to Vietnam’s economy with brightening signals. Ministry of Planning and Investment disclosed that foreign direct investment licensed between 1Jan2013 to 20Aug2013 was standing at 769 projects, registered capital at 7,4046 mill USD. New business register has been rapidly increased; the number of enterprises ceasing operation has shown a decline. Approximately 10000 enterprises temporarily stopped in 2012 have returned active mode.

The image of 10000 revitalized enterprises and miraculous “rise up” of the economy have been lively evidences showing the policies and challenge-tackling solutions towards production and trades that the Government, directly enacted and steered by Prime Minister Nguyen Tan Dung, are churning effects and building confidence for investors and entrepreneurs.

The people started viewing the role and influences of Mr. Nguyen Tan Dung after a brief period he was criticized for a poorly-performing Government that led to numerous difficulties for this newly emerging economy. From George Mason (Virginia), Prof. Nguyen Manh Hung, an international politics and Vietnam situation researcher has confirmed that: Mr. Nguyen Tan Dung’s position has been consolidated after 7th central committe plennum. Mr. Dung has demonstrated a political espirit fort against the nation’s hot issues.

In fact, Mr. Dung has shown to the people he is truly the sharpest Premier in Asia as international and domestic media once commented. The outstanding of Mr. Dung has been reflected in the way he operates the economy to the ways he encounters country’s challenges and the ways he faced the so called: leader’s responsibility.

When the economy slipped from an Asian dragon to the one that is overshadowed by bad debts and “cream scoop” thinking, when most of the index tables have turned down the nation’s rank, that’s when Mr. Dung returned with resolute policies. It was most painful for him to drop growth target in exchange for inflation containment, equally hard was to admit and make incision of the “state economy” tumor, of the Groups that were once bright signs of socialism. “I take responsibility of Vinashin”, a statement of the Premier in front of the National Assembly has shown the courage and responsibility of whom being the youngest Prime Minister in Vietnam from 1975, also a Premier that was originated from a soldier and emerged from the heroic Vietnam’s army.

Recently, in a “no-precedented” poll for confidence in Vietnam, the Prime Minister has been voted with approx. 70% confidence, which does not reflect the true reputation of this Prime Minister as around him there are plenty of characters that received almost full confidence but they remained idle and made no major impact nor achievements for the nation, in return they made no friction with anyone or kept harmonized with all others. Nevertheless, Mr. Dung was not disappointing with such facts, he was determined, and persistent to the path he chose. Mr. Dung did not drop the tough policy of fiscal tightening that aims for stabilizing macroeconomy and containing inflation. Mr. Dung’s decisions were to continue to observe a tight-tolerate foreign exchange ratio, to operate a favorably declining interest rate that was in line with inflation slow-down, despite of out-cries of the interest groups in finance and property sectors. And Mr. Dung has proven the rightfulness. Mr. Dung may lose confidence of the interest groups but he gained people’s popularity whilst the economy has shown positive signs and social securities have been much improved with encouraging transformation.

Mr. Dung has not only been excellent in economic policies, the repeated remarks in the international affairs have also brought him to the new height, especially after Shangri-la dialogue which he appeared to be the most influential politician in Asia. He holds an persuasive voice in Eastern Sea issue with the quest for peace, stability, security and safety of maritime in this important sea lane of the region, he was determined and convincing in solving conflicts by adopting the peaceful means and observing the international laws. Also by skillful diplomacy and heartfelt nationalism, Mr. Dung has carved the story of Eastern Sea to enhance the national solidarity. The evidence has shown that Vietnam is getting higher stability without signs of separation in thoughts as well as actions. Put another way, Mr. Dung has been excellent in making “inner warm, outer firm” in the context of Vietnam needing major resolution and decision in counteracting the challenges of international and domestic affairs, but not let go the opportunities arisen.

In showing the breathtaking remarks over the past period, it should be admitted that Vietnam would find it very hard to place an alternative candidate that is stronger than Prime Minister Dung. Mr. Dung is truly the leader that Vietnam needs in the outward journey to the world.