VNA PM Phan Van Khai hands over certificate of merit to the Fund. Prime Minister Phan Van Khai asked the Fund for Development, as a key tool of the government to implement the country's strategy for economic development, to select products of advantage to carry out the preferential credit policy in a bid to help businesses to develop rapidly. The preferential credit policy of the State, the prime minister added, will also help speed up the process to shift economic structure, promote potential of all economic sectors, increase the competitive capacity of businesses, firmly integrate into the regional and world economies, thus, contributing to building an economy of independence, sovereignty, long-term stability and accelerating the process of industrialisation and modernisation. This was said in a conference held by the Fund for Development to implement this year's tasks in Hanoi on February 13 and 14. Prime Minister Khai praised the fund for its achievements recorded after one year of operation. He also urged the fund to grasp thoroughly the government's policies in order to propose better management measures for the staff, help loan borrowers to well implement the policy of the Party and the government and promote all potentials of the whole country. The Fund for Development has operated for over one year, implementing new mechanisms on credit for development investment of the State. Last year, the fund provided loans to 1,213 projects with a total capital of VND 6,636 billion from the domestic capital source. The fund disbursed VND 4,723 billion as of December 31 last year, 181% as compared with the previous year. Apart from providing loans from domestic resource, the fund also provided loans from the Official Development Assistance (ODA) with VND 11,117 billion in total and collected debts including interest with VND 1,472 billion in the first year of its operation. With loans provided by the fund, some projects concerning off-shore fishing, sugar cane planting, reforestation, and engineering were able to expand their business operations. This year, the fund should provide loans of VND 23,100 billion from the domestic capital and VND 9,800 billion from ODA, guarantee investment credit of VND 300 billion and support interest rate after investment of VND 400 billion. **** China's defence minister ends visitChina's Defence Minister Senior Lieutenant General Chi Haotian, who is deputy president of the Communist Party of China's Central Military Commission and state councillor, left Ho Chi Minh City yesterday, February 13, ending his official visit to Vietnam. During the visit, from February 8, Minister Haotian made courtesy calls on Vietnam Communist Party General Secretary Le Kha Phieu and State President Tran Duc Luong. He also held talks with his Vietnamese counterpart, Lieutenant General Pham Van Tra and visited several military units and historical sites. (VNA) **** Vietnam, Bulgaria strengthen education tiesVietnam and Bulgaria have signed an agreement recognising each other's diplomas and for an educational co-operation programme for the next three years. Signatories were Education and Training Minister Nguyen Minh Hien and Bulgarian Education and Science Minister Dimitur Dimitrov. Mr Dimitrov, who began a week-long Vietnam visit from February 12, will call at several education and training institutions, including the Hanoi Technology University and the Ho Chi Minh City Agriculture and Forestry and the Technical Teacher Training Universities, the Vietnam-Bulgaria Kindergarten and the National Educational Development and Research Institute. He will also meet with alumni from Bulgaria. Bulgaria has helped Vietnam train 2,400 technical and scientific experts, more than 300 of them were Ph D degree holders. Most now have important posts in various sectors. (VNA) **** RoK deputy minister's visit boosts economic tiesThe visit to Vietnam by the Republic of Korea's (RoK) Deputy Minister for Commerce, Industry and Energy Young-kyo would help boost co-operation in commerce and investment, said Deputy Prime Minister Nguyen Manh Cam. Mr Cam said during a meeting with the deputy minister in Hanoi on February 13 that he highly valued the socio-economic co-operation between Vietnam and the RoK. This had helped Vietnam accelerate its industrialisation and modernisation. Vietnam and the RoK have increased two-way trade from US $500 million to US $2 billion. The deputy prime minister said that he hoped for further co-operation between the two countries in the exploitation of natural resources, import-export, vocational training and scientific and technological transfer. Deputy Minister Young-Kyo thanked the Vietnam government for creating conditions favourable to RoK businesses and said that during his visit, from February 13-16, he would sign a document for co-operation in natural resources and minerals with the Industry Ministry. He would also make deeper studies of Vietnam so as to strengthen the bilateral co-operation in commerce and investment. (VNA) **** Over US $5 million for reforestation Planting forest in Tam Dao. The German government will provide DM 11 million (over US $5 million) to help Vietnam re-plant and protect forests, says the German Embassy in Vietnam. DM 5 million of this sum will be channelled through the German Bank for reconstruction to fund projects to re-plant forests in the central areas. DM 3 million will be used by the German Organisation for Technical Co-operation, in co-ordination with the Ministry of Agriculture and Rural Development to provide training on sustainable use of forest resources. A multilateral programme on forestry will receive the remaining DM 3 million. **** British ambassador presents Chevening scholarships The British government has granted nearly 30 Chevening scholarships to Vietnamese cadres. A ceremony to present certificates of the scholarships was held on February 13. The British ambassador to Vietnam, entrusted by his government, handed over the certificates to the recipients. Chevening scholarships provide courses at famous British universities with a maximum studying time of one year. Recipients of these scholarships are young, excellent officials at State agencies. They may follow courses in finance, economics, development and public administration. _________________________________________________ KOMINFORM P.O. 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