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/ April 14, 2021

UN Security Council discusses Kosovo mission’s operation

Ambassador Đặng Đình Quý, Permanent Representative of Việt Nam to the UN, attends the online meeting on Tuesday. — VNA/VNS Photo NEW YORK — The United Nations Security Council (UNSC) held an online meeting on Tuesday to discuss the operation of the United Nations Interim Administration Mission in Kosovo (UNMIK). Zahir Tanin, Special Representative of the UN Secretary-General and head of the UNMIK, delivered a report on the mission’s work at site from September 16, 2020 to March 15, 2021, focusing on speeding up measures to build trust among all relevant parties, strengthen dialogue and offer support to local communities to deal with impacts of the COVID-19 pandemic. Members of the council recognised the efforts of the mission and showed their hope that relevant parties increase dialogue and seek long-term, comprehensive solutions for peace and stability in the region. Many countries expressed their support to the mission’s role, however, some pointed to the need to maintain the UNMIK’s operation. Addressing the meeting, Ambassador Đặng Đình Quý, Permanent Representative of Việt Nam to the UN, praised the role of the UNMIK in Kosovo, especially in supporting the local community to cope with COVID-19. He called on all parties concerned to seek comprehensive and long-lasting solutions in line with international law, the UN Charter and UNSC resolutions, while promoting dialogue and addressing differences as well as focusing on coping with the pandemic to ensure the livelihood and development of communities in Kosovo. The UN Security Council, by its Resolution 1244 (1999), authorised the UN Secretary-General to establish an international civil presence in Kosovo – the UNMIK – in order to provide an interim administration for Kosovo under which the people of Kosovo could enjoy substantial autonomy. —VNS …

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/ April 14, 2021

Newly-elected NA Chair faces high expectations to fulfill President Ho Chi Minh’s wishes

When delivering the closing speech at the NA session, NA Chair Vuong Dinh Hue expressed his belief that newly elected deputies will uphold the spirit of dynamism and creativity, and will dare to think, dare to do, and dare to take responsibility. Former NA Chair Nguyen Thi Kim Ngan (right) presents a bouquet of flowers to newly elected NA Chair Vuong Dinh Hue The foundation of belief The ‘belief’ of the 14th National Assembly (NA) is also the great responsibility and pressure placed on the shoulders of Hue as Chair of the NA, one of the three key positions which have been elected to administer the country in the next five-year period. Under the management of previous chairs, including Mrs. Nguyen Thi Kim Ngan, Mr. Nguyen Sinh Hung and Mr. Nguyen Phu Trong, the NA’s activities have become more practical and effective. The rights of NA in general and NA deputies in particular have been increasingly strengthened through legislative and supervisory activities. Mr. Hue’s predecessor – Nguyen Thi Kim Ngan – was a flexible chair who was moderate sometimes and drastic at other times when presiding over working sessions. Many NA deputies, including Truong Trong Nghia, Le Thanh Van and Pham Thi Minh Hien, raised the voice of people when mentioning thorny issues. Supervision activities have been organized professionally, thus forcing executive agencies to be more open, transparent and accountable in many activities. The 13th NA enacted 72 laws, two ordinances and a number of resolutions, many of which aim at promoting the development of the socialist-oriented market economy and respecting the freedom of doing business; accelerating judicial and administrative reforms, building a Socialist State governed by the rule of law; and promoting democracy and the people's right to mastery as self-assessed in the 13th NA report. Of these, the most significant laws that help perfect the market economy regime include the Investment Law, Enterprise Law, Law on …

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/ April 14, 2021

Good control of pandemic will accelerate credit growth: experts

Clients make transtraction at the HDBank branch in Ha Noi. — VNA/VNS Photo Tran Viet Credit growth will expand significantly from the second quarter and exceed the State Bank of Vietnam (SBV)’s target of 12 per cent for the year as a whole if the pandemic is brought under control and the vaccination campaign proves effective, according to insiders. Regarding domestic recovery in its strategic investment report for 2021, the VNDirect Securities Corporation forecast that this year's credit growth would top 13 per cent and interest rates could fall 20-50 percentage points in the context of loose monetary policy and low inflationary pressure. According to Can Van Luc, BIDV chief economist, 10-15 per cent growth is suitable, given that risks await commercial banks despite the economic recovery. Potential bad debts are on the rise, which will eat into banks' profits. Meanwhile, the SBV’s Department of Credit for Economic Sectors has forecast strong credit growth from the second quarter, which could be higher than the SBV’s target of 12 per cent, especially in the fields of industrial production, exports, trade and tourism. Good domestic consumption, rosy exports, strong FDI attraction and disbursement of public investment will drive credit growth. Head of the department Nguyen Tuan Anh revealed that as of the end of March, credit growth was up by 2.3 per cent compared to the end of 2020 and higher than the figure in the same period last year, when credit growth in the economy inched up less than 1 per cent. From the outset of this year, the SBV was prudent in assigning credit growth for commercial banks, Anh said, adding that it outlined three scenarios for credit growth this year, with the maximum reaching 14 per cent if COVID-19 was wiped out in the first quarter, 10-12 per cent if the pandemic lasts until June and social distancing measures are put in place, and 7-8 per cent if it lasts until the end of the year. According to economist Nguyen Tri …

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