Gov't Advances US$421,000 for APEC
The Vietnamese government has decided to spend VND6.65 billion (US$421,000) in advance of the organization of first Senior Official Meeting (SOM I) under the APEC 2006 summit.
Accordingly, the Ministry of Foreign Affairs will receive VND4.5 billion (US$285,000), which will be poured into the operation of APEC’s Secretary Board. The remainder of more than VND2.1 billion (US$136,000) will flow into the Sub-committee for Material and Ordnance under the Government Office.
The money comes from State coffer planed for foreign affairs in 2006. Vietnam’s total spending for the APEC year was not released but it is said to be very large.
APEC 2006 in Vietnam is scheduled to comprise of around 100 meetings with the participation of tens of thousands State leaders from the two most dynamic economic regions: East Asia and North America, with a total population of 2.5 billion, an annual GDP revenue of US$19 trillion, and making up 47 per cent of the total global import-export value.
Investment
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