VNU. JOURNAL OF SCIENCE, ECONOMICS-LAW, N01E, 2004
SOM E TH O UG H TS ON THE ROLE OF THE V IETN A M ESE STATE IN THE P R O C E SS OF SH IFT IN G TO THE MARKET ECONOMY
N ow adays, in th e world, th e re are m any d ifferent economic o peration models a t v arying levels of success. Yet th e re is no model t h a t o p e ra te s w ith o u t th e S ta te ’s interference. A s tro n g a n d in te llig e n t s ta te is one of th e d e te r m in a n ts for th e success of an economic o p e ra tio n model.
S h ifting from a cen trally p la n ned economy to the socialist-oriented m a rk e t economy u n d e r th e re g u la tio n of th e State, the form ation a n d develo pm ent process of the m a r k e t economy in V ietn am , which is associated w ith th e S t a t e ’s role of regulation, will have m a n y differences from th e o rd in a ry m a rk e t economy.
1. T y p ica l C h a r a c te r is t ic s o f the P r o c e s s o f S h iftin g to M arket E co n o m y in V ie tn a m a n d th e Role o f th e State
1.1. B a c k g r o u n d o f th e S h ift to M a rk e t E con om y in V ie tn a m
* D om estic C ontext
A fter a long tim e o p e ra te d u n d e r the c en tralize d b u re a u c ra tic a n d State- subsidized m echanism s, th e V ietn am ese economy will h ave following fe a tu re s w hen shifting to m a r k e t economy:
n Dr., Faculty of Econom ics, V ietnam National U niversity, Hanoi.
Tran Anh T a i(*}
Low develo pm en t level; u n d e r developed labor divisions; back w ard tech niq ues a n d technology; agriculture- based economy w ith tra d itio n a l farming;
rice monoculture; im b a la n ce d and w eak in d u s tria l stru c tu re ; low living stan d a rd , high unem p lo yed ra te . These not only caused difficulties for th e in d u stria liz atio n and m o dern izatio n b u t also created a n d fostered d is a d v a n ta g e s for th e formation an d develop m ent of th e m a rk e t economy.
- The re la tio n s of production were set up and m a in ta in e d by th e dom ination role of public o w n e rsh ip of m e a n s of production u n d e r 2 types: th e people ow nership a n d collective ow nership. P riv ate ownership was not accepted a n d w as th e object of tra n s fo rm a tio n a n d abo lishm ent.
Production a n d exchange were prim arily m a in ta in e d on th e basis of m a te ria l relation. The re la tio n between commodity a n d money c reated an opposite system t h a t was, in fact, not accepted and w as re s tr a in e d to its maximum developm ent. T he m a r k e t relations were a lm ost not s e t up or existed in a formal a n d distortio nal m a n n er.
- T h e economy w as a closed, self- existing a n d severely im balanced system.
The official economic o p eratio n mechanism was th e o rd ered m echanism . In this
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m echanism : th e S ta te re g u la te d economic activities th ro u g h a sy ste m of production p la n s a n d prod uct d istrib u tio n , a n d th ro u g h a sy ste m of price, foreign exchange ra te a n d in te r e s t r a t e t h a t a re s tip u la te d strictly a n d subjectively.
- The production s tr u c tu r e h a d its c h arac te ristic of monopoly. The s tate focused its o p e ra tio n s on S ta te owned e n te rp ris e s t h a t w ere e sta b lis h e d a n d sp re ad on a large scale w ith o u t competition. The production re la tio n s were vertical u n d e r th e m e ch a n ism of issue and delivery, m ak in g th e ho riz o n ta l relatio ns a very difficult situ atio n.
- Finance w as w eak, u n s ta b le , b ased on a less developed economy t h a t bore heavy consequences of war. T he h ig h inflation lasted too long, dom estic savings w as not yet existed, a n d th e bu re a u cra tic , cen tralized a n d state-su bsidized m a n a g e m e n t m e c h a n is m s w ere not a p p ro p ria te to objective ru le s of the m a rk e t economy.
* In te rn a tio n a l C ontext
V ietnam w as sh iftin g its economy to m a rk e t economy w h en th e in te rn a tio n a l context a n d th e world s itu a tio n h a d s u b s ta n tia l changes. Some of which are as follow:
The tre n d of in te rn a tio n a liz a tio n , in te g ra tio n into th e world economy a n d th e developm ent process of a n organic world m a rk e t cau sed m a n y c h a n g e s in th e economic re la tio n s b e tw ee n nations, creating o p p o rtu n itie s for th e poor
c o u n trie s to join in in te r n a tio n a l exchang e a n d co-operatio n e a s ie r a n d more equal.
- T h e t r e n d of regionalizing the d e v e lo p m e n t w e n t along w ith e n h a n c in g th e p ro te c tio n ism . T h is tr e n d is c o n tr a r y to th e first one a n d is t h e essence of m a r k e t developm en t. H ow ev er, in t h a t c u r r e n t s itu a tio n , it o c cu rred from typical causes, of w h ich t h e d ire c t c a u s e w as th e dynam ic d e v e lo p m e n t of new in d u s tria liz e d co untries.
- T h e collapse of Socialism in the fo rm er S o viet U n io n a n d E a s te r n Europe c re a te d a s ig n ific a n t space in the d e v elo p m en t of V ie tn am . T h e re a r e two sides of a coin h e re . Along w ith escaping from a closed a n d subsidized system , V ie tn a m h a s c h a n c e s to join in a n opened w orld econom y w ith a more effective o peration . Also, V ie tn a m lost a reliable an d firm s u p p o rt.
1.2. Th e R e g u l a t i o n o f C o n te x t to the R ole o f th e S t a t e in S h if tin g to M a rk e t E co n o m y in V ie tn a m
In th e abo v e-m en tio n ed specific context, w h e n co n sid e rin g th e role of the S ta te in th e p ro cess of shiftin g to m a rk e t economy in V ie tn a m , in o u r opinion, we should pay a tte n tio n to th e followings:
- In V ie tn a m , th e r e is a historical fact t h a t t h e S t a t e h a d a-' decisive role in economic d e v e lo p m e n t for decades. Its fo u n d a tio n is th e p o p ularity of public o w n e rsh ip a n d th e h om ogeneousness b e tw e e n th e c e n tr a lly p la n n e d and su b sid ized econom y w ith m a terialized
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economic re la tio n s a n d th e a u ta r k y economy.
From t h a t s t a r t i n g point, th e reform can only be im p le m e n te d effectively if it is in itia te d by th e S tate.
- V ietn am is in th e p ro cess of shifting to m a r k e t economy, so th e role of th e S ta te is not j u s t lim ited in ov erco m ing and correcting th e ne g ativ e effects a n d defects of the m a rk e t economy, b u t its m a in duty is to e sta b lish th e fo u n d a tio n for the developm ent of m a r k e t re latio ns them selves. H ere, th e d e v e lo p m e n t of m a rk e t re la tio n s is a ss o c ia te d w ith th e r e a w a re n e ss process a n d , th e re fo re , it is necessary to overcome s te p by s te p and correct th e defects a n d fa ilu re s of the participation of th e S t a t e in r e g u la tin g the economy in th e p a s t d e c a d e s to conform to th e ta s k s in th e new stag e.
- V ie tn am is s h iftin g to m a rk e t economy from a poor, b a c k w a r d and agricu lture-based economy. M ost of V ie tn a m ’s p o p ulatio n is in r u r a l areas.
Therefore, in o rd e r to b rin g into play the key role of a g ric u ltu re a n d to help the fa rm e rs u n d e r s ta n d th e b e n e fits a n d , there from, mobilize th e m a jo rity of people to tak e p a r t in the d e v e lo p m e n t, especially in the first stage, th e role of th e G o v e rn m e n t is crucial. Besides, how a poor c o u n try can cope w ith poverty w h ile a s s u r in g the economic d e v elo p m en t is also a big challenge to th e G o v e rn m e n t.
- As a developing c o u n try , V ietnam should not b y p a ss s ta g e s b u t should utilize th e a d v a n ta g e s of a c o u n tr y th a t
follows, b rin g into full play the in te rn a l forces of its economy, and learn effectively from successes a n d experience of the pioneer counties. In t h a t condition, it could not be left for th e “invisible h a n d ”. A strong a n d intelligent S ta te is one of th e d e te r m in a n ts for th e success.
Given this, it is possible to say th a t w hen shifting to a new stage, th e role of th e S ta te is not decreased b u t increased.
On the o th e r h an d, it h a s shown a tre n d t h a t co n tra ry to th e ch anging process of th e role a n d economic function of the State of V ietnam . S h ifting to m a rk e t economy m e a n s shifting to a new system , w here the m a rk e t w ith its objective rules will shape a new power regim e is t h a t in d e p e n d e n t of th e S tate. The m a r k e t itself contains a self-a d ju stm en t m e chanism and t h a t is the m ain m e ch an ism to re g u la te th e economy.
This is completely different from the old system in which th e S ta te directly controlled th e economy. So, th ese two economic system s h ave two different re g u la tio n m echanism s, two different power regim es, a n d th e specific method of a n d th e e x te n t to which the S ta te p a rtic ip a te s in re g u la tin g th e economy are also different. The tra n s itio n to m a rk e t economy relatively reallocates the re g u la tio n pow er b etw een th e S ta te and th e m a rk e t in th e way t h a t lim its the S ta te ’s pow er a n d e x ten d s th e m a rk e t’s power. However, th e n a tu r e of the m a tte r is not to abolish th e economic role of the S tate, b u t th e m ethod, domain, and scope to im p le m e n t t h a t role will b a se on o ther ru le s t h a t a re more subjective and economical.
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. I n accordance w ith subjective logics of m a r k e t economy progress, it could be se p a ra te d into two ta s k s relatively to th e two s tag e s of m a r k e t economy progress:
th e stage of shifting to m a r k e t economy a n d t h e stage of o p e ra tin g th e s tru c tu re d m a rk e t economy.
Basically* V ie tn am is in th e process of carrying o u t th e first ta s k to achieve a structured m a r k e t economy w ith th e prim ary mission to develop an n stitu tic n a l fram ew ork. T he n a t u r e of th is 'ask is tc c re ate m a r k e t subjects a n d a free
b u s i n e s s en viro nm en t, s tr u c tu r e functional market: labour m a rk e t, financial m a rk e t, 'tock rrarket, ta x system , price a n d interest late.
Succeeded to and concomitant with the first stige is th e o p e ra tio n of the structured m a rk e t system . In th is stage, the State’s influences a re asso ciated w ith the lonf-term economic g ro w th a n d to de\elop macro b a lan ces as th e conditions for t h a t jrowth.
2 Economic R efo rm in V ie tn a m from the lo lic y P r o c e s s P e r s p e c t iv e
The 'ealities in th e la s t 15 y e a rs have shown tiat the sh iftin g to m a r k e t economy has depended a lot on policy process. The reform s fast or slow, s tab le or troubled, grew or receded - all th e se a re o rigin ated frcm vhat policies does th e S ta te irrplem<n*? To w h a t e x te n t th e y a re right?
Tlerefoe. it is reasonable to consider the r e ’orm process from th e policy process perspecive. However, it does n o t m e an to identify t i e subjective process w ith th e
objective operation s of th e S ta te . The shifting of V ietnam economy since 1975 h a s shown t h a t th e economic reform is a struggle b etw een orthodox economic system (centrally p la nn ed m echanism ) and unortho do x one (free m arket), following th e tendency of confirming th e m a rk e t m echanism . T h a t process could be considered in th e following 3 periods:
1. Period 1975 - 1986
From th e policy perspective, the economic reform in V ie tn am s t a r t e d from 1979 by th e reso lu tion s of th e 6th P lenum of the P a rty C e n tra l C om m ittee (4th P a rty Congress). T his w as th e re s u lt of a long accum ulation of re stric tio n s and contradictions d u rin g n early two decades of existence of th e centrally planned, b u re a u c ra tic m e ch a n ism s w ith S ta te subsidies. T h e economic reform s included:
firstly, th e Directive No. 100 of th e C entral C o m m ittee’s S e c re ta r ia t (1/1981) officially re g u la ted th e product C o n tra ct in agriculture; secondly, th e Decree 25/CP on th e 3 portions in in d u s tria l production;
followings w ere th e Resolution 26 of the Politburo a n d Directive 109 of th e C entral C om m ittee’s S e c re ta r ia t on the im p ro v em e n t of d istrib u tio n ' and circulation, especially th e R esolution of the 5th P a rty Congress, 8th P le n u m (6/1985) on ad ju stin g th e price level, reform ing the sala ry regim e in compliance with abolishing m a te ria l supply, shiftin g to paying s a la ry in money.
Besides, the S ta te allowed en terp rises, m a n u fa c tu rin g com panies and local export
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com panies to directly h a v e business relation s w ith foreign com panies; step-by- step abolished the form er monopoly in foreign tra d e ; step-by-step re s tru c tu re d the in v e s tm e n t to overcome th e dispersed, non-synchron ou s a n d not effective in v e stm en t. Both in view a n d in reality, :t was g ra d u a lly sh ifting to focusing on a g ric u ltu re and lig h t in d u s try .
j Briefly, the re n o v a tio n in th is period of time, d e m o n s tra te d by th e above- m entioned Resolutions, reflected an objective tre n d of sh ifting process from th e cen trally p la n n e d economy to th e m a rk e t economy. However, in fact, th is w as a period of e x trem ely troubled, u n s ta b le economy th a t, in its essence, co ntained a serious crisis a b o u t economic in s titu tio n and re g u la tio n m echanism .
Actually, t h a t s itu a tio n w as g e n erate d from th e tr a n s itio n a l s ta g e of m echanism , in which th e old economic system was in e rtia l a n d had a stro n g defensive ability.
The S ta te , ill its cap acity a s a power a p p a r a tu s , w ith th e s tro n g e s t economic power, w as still n ot fully a n d clearly a w are of th e in d isp e n sa b le tre n d , therefore, was not re s o lu te in abolishing th e direct a d m in is tra tiv e m a n a g e m e n t to shift to th e ind irect m a n a g e m e n t.
The reform prog ress in th is period could be considered a n d a ss e ss e d in the two d im e n sio n s t h a t follows:
F irstly; th e S ta te step by step accepted th e m a r k e t m e ch a n ism a n d o rien ted th e economy accordingly. T his w as a n im p o r ta n t sign, which m e a n t t h a t the
ordered economic sy stem b e g a n to escap from its “sclerosis” s itu a tio n , an(| sh iftin to a more dynam ic economic system That w as also th e significance of the polic- reform progress, a n d t h a t is why it acted as th e role of th e S ta te d u r in g tl is period of time.
Secondly; th e non-synchronous un th o ro u g h a n d passive c h an g e of policies u one of th e m ain re a so n s for causing thfi economy Into troubled, w e akened situatior in a long tim e. It could be said t h a t t h ù w as th e u n a v o id ab le cost for th<:
tr a n s itio n a l stag e from the old rn>charisrr to th e new one.
2. The P eriod o f the 1986 - 19±6
The R enovation, sh iftin g tc m a -k e ’ economy w as confirm ed a t the 3th P art\
Congress a n d co n tin u ed to devebp a t the 7th P a rty Congress.
Since th e n , more s}n*hromus fu n d a m e n ta l, a n d ra dical chfcnres have been mode.
• M ulti-sector economic policy las teen confirmed a n d im plem ented.
- Macro m a n a g e m e n t tools tc push up th e sh ifting process to m arket economy have been used.
- A flexible exchange rate system reform ed ta x sy stem in step i ias been applied.
- Open-door economy poices have been im p lem ented.
- M a n a g e m e n t a p p a r a tu s ir ồep 1 las been reform ed.
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T h a n k s to its d e te rm in a tio n and perseverance in im p le m e n tin g th e renovation, V ie tn am h a s gain ed g re a t achievem ents, b ro u g h t th e co u n try o ut of socio-economic crisis a n d step p e d into a new pace of developm ent: th e stag e of fast economic grow th, speedy in d u s tria liz a tio n and m odernization. T h e a v erag e growth ra te in th e 5 y e ar period of (1991 - 1996) were as follows: G D P in c re ase d by 8.2%;
total a g ric u ltu ra l yield inc re ase d by 4.5%;
food production converted to paddy reached 25 million to n s (1993); rice ex port 1.95 million tons (1992); to ta l in d u s tria l production in creased by 13%; export tu rn o v e r increased by 20%; achieved 11.2 billion US dollars in 4 consecutive years.
In v e s tm e n t for economic developm ent in the 4 y e ars also increased. In 1990, it was j u s t 11.5% of GDP; 1991: 14.3%; 1993:
14.4%, a n d re a c h e d 20.5% in 1994 and 31.6% of G D P in 1995.
The economic s tr u c tu r e began to change: th e in d u s tr y prop ortion in G D P increased from 18.8% in 1990; 20.5% in 1993; 22% in 1994 to 28.76% in 1995. In this period, th e service proportion also increased from 36.3% to 38.2% a n d th e n to 39%.
Inflation w as controlled, th e n a tio n a l finance w as h e a lth y , a n d th e V ietnam cu rrency w as stable. Inflatio n decreased from 67% in 1991 to 17.5% in 1992, 5.2%
in 1993; 14.5% in 1994 a n d to 1.27% in 1995. The b u d g e t m obilisation r a te increased rapidly, m ore t h a n 20% of GDP
in 1993; b u d g e t r e tr ie v a l in c re ase d by 27%
in 1994.
The two-way foreign tra d e increased 20% in average. U p till S e p te m b e r 1994, 1000 in v e stm e n t licenses were issued with th e total re g is te re d c a p ita l of 10 billion USD.
The a ch ie v e m en ts in th e first 5 year period of 1991-1996 w ere quite encouraging, h o w e v er th e V ietnam economy still h a d w eak n e sse s: Firstly, it ha d a good g ro w th r a te , but, in general, t h a t grow th w as n o t stable. The quality a n d effect of th e economy h a d many lim itations. Secondly, finance and the m o n etary sy ste m s could not m eet the re q u ire m e n ts of th e economic developm ent, and could not become the most decisive a n d effective tool for macro m a n ag e m e n t. G e n era lly , V ietnam had not yet developed a n a tio n a l finance th a t is a p p ro p ria te to m acro economy op erating in a m a rk e t m ech a n ism . Thirdly, foreign tra d e w as still weak.
3. The Period fro m 1997 up to N ow This is th e period in which the in te rn a tio n a l co n tex t contained many factors wich a re n ot a d v a n ta g e o u s for the developm ent of V ie tn a m ’s economy.
Firstly, th e fin a n c ial crisis broke out in th e region, affecting strongly and p e rs iste n tly o u r economy. Secondly, the world m a rk e t w a s u n stab le. Prices of V ie tn a m ’s m ain e x p o rts had a trend to decrease drastically. Especially, in recent years, th e globalization h a s been going on
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vigorously w ith new moves, th e u n s te a d in e ss of th e economy h as accelerated m ore rapidly, especially after the te rro r is t a t t a c k s on 11 S e p te m b e r 2001 and the collapses of a series of economic groups o p e ra tin g in high-tech field.
Facing w ith those difficulties, the V ietnam ese econom y also h a d critical changes t h a t m a in ta in e d a r a t h e r high growth ra te , a n d re s tra in e d a n d reversed the tre n d of d e crea sin g grow th rate. In 1996, the G D P grew 9.34%; in 1997: 8.15%;
in 1998: 5.76%; in 1999: only 4.77%; b u t increased in 2000 to 6.74%; in 2001: 6.78%;
an d in 2002: 7.04%.
In v e s tm e n t c o ntin ued to grow b u t much less in co m parison w ith th e previous period (11.4% c o m p ared to 23.33%).
Especially, in th e s itu a tio n t h a t the regional economy fell into financial crisis and th e c u rre n c ie s w ere constantly devalued, V ie tn a m w as still able to control the “price explosion” an d m a in ta in e d a low inflation ra te . T h is w as a g re a t exertion in an effort to stab ilize the macro economy recently. T h e in flation ra te in 1996: 4.5%;
in 1997: 3.6%; in 1998: 0.2%; in 1999:
0.1%; in 2000: -0.6%; in 2001: 0.8% an d in 2002: 4.0%. In 1999, the u nem ployed ra te in u rb a n a r e a s w as 7.4%, in 2000: 6.44%, in 2001: 6.28% a n d in 2002 w as only 6%.
The tim e -u s a g e -ra te in r u r a l a r e a s in 1999 was 73.49%; in 2000: 73.86%; in 2001:
74.37%; a n d in 2002: 75.41%.
E m p lo y m e n t ex perienced some positive changes. Especially, in th e la st th re e years, th e u n e m p lo y m e n t r a te in u rb a n
a re a s decreased an d th e tim e-usage-rate in ru r a l a re a s increased.
However, it is easy to see t h a t the V ietnam ese economy h a s developed in re c en t y e ars on th e b asis of a stru c tu re d model w ith th e following features:
- The economy h a s developed in width on the b asis of existing advantages, especially on n a tu r a l resources.
- The a ctu a l develo pm en t mode has relied on prioritizing im p o rt-altern ativ e in d ustries, which used m uch of capital and h a d low high-tech a n d la bo ur content, such as m ining in d u s try and processing industry.
- The m a r k e t in s titu tio n h as not yet
developed synchronically. M any
fu n d a m e n ta l s tr u c tu r a l factors were lacked or weak; th e b u sin ess env iro n m e n t w as ill-shaped, a n d th e factors of the old m echanism still existed.
- The w ay to a pp ro ach th e world m a rk e t an d draw FDI mostly focused on W este rn A sian countries.
• Solutions to re v e rse th e tre n d of decreasing grow th r a te in the previous period w ere mostly s itu a tio n a l m e a s u re s t h a t focused on e x te rn a l im pacts b u t lacked solutions to overcome in te rn a l w e akn esses an d im prove growth.
- The tr e n d of decreasing the speed of in v e stm e n t g row th in re c en t years, especially foreign in v e stm e n t, signaled a decline in q u a lity of in v e s tm e n t e n v iro n m e n t a n d prospect of economies.
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The w e a k n e sse s a n d issues of ou r economy in re c e n t y e ars h a v e reflected a paradox: th e de ep e r o u r economy p e n e tr a te d into m a r k e t economy, opened to a n d in te g ra te d into th e w orld economy, the more th e factors of bu re a u cra tic , c e n trally -p la n n ed a n d subsidized m e ch an ism re h a b ilita te d , such as th e in c reasin g of monopoly a n d subsidized situ a tio n , w id e sp rea d protection, th e tre n d of developing in d u s trie s t h a t u se much of capital a n d h a v e low high -tech an d labor c ontent, p riv a te sector w a s n o t a d eq u a te ly paid a tte n tio n to, etc. A lth o u g h t h a t tre n d w as not th e d e te r m in a n t for th e o rie n ta tio n of ou r n a tio n ’s reno vation a n d
developm ent progress, b u t it reflected t h a t th e strug gle b e tw ee n th e old m e c h a n is m (centrally-planned) a n d th e new one (opened m a rk e t m echanism ) of th e economy is still n o t ended.
So, it is impossible to say t h a t th e first logical step of th e abo ve-m entioned m a r k e t progress is completed. T he reform is actually c o ntin uing a n d o p e ra tin g in contradictions, facing w ith lim ita tio n s including th e lim itatio n of policy. T h a t re q u ires m uch more effort of th e S ta te in the shift to m a rk e t economy in V ie tn a m in th e n ext steps.
TẠP CHÍ KHOA HỌC ĐHQGHN, KINH TỂ - LUẬT, SỐ IE , 2004
MỘT SỐ SUY NGHĨ VE VAI TRÒ CỦA NHÀ NƯỚC TRONG QUÁ TRÌNH CHUYỂN SANG NEN KINH TẺ THỊ TRƯỜNG ở VIỆT NAM
TS. T rần Anh Tài
K hoa K in h tê, Đ ại học Quốc g ia H à N ội
Bài viết đề cập đến bối c ả n h cụ th ể tro n g nước và quốc t ế ả n h hưởng đến công cuộc cải tố k in h tê của Việt N am . Tác giả chỉ ra m ột sô" khác biệt về vai trò của n h à nước tro n g q uá t r ì n h chuyển từ n ề n k in h t ế tậ p tr u n g s a n g n ề n k in h t ế th ị trường.
Q u a n trọ n g hờn, bài viết còn k h ái q u á t hóa qu á t r ì n h cải tổ k in h t ế của Việt N a m về phươ ng diện k in h t ế quốc doanh. Tác giả k h ô n g chỉ p h â n tích n h ữ n g th u ậ n lợi và b ấ t lợi của các chính sách m à còn b à n cả ả n h hưởng của c h ú n g tới n h ữ n g t h à n h tự u đã đ ạ t được q u a cuộc cải tổ. Tác giả k ế t lu ận , N h à nước cần ph ải nỗ lực hơn n ữ a để p h á t triể n n ề n k in h tê th ị trư ờng ở Việt N am .
VNƯ, Journal o f Science, EconomicS-Lttw. N„/ E, 2004
