TRNG I HC KINH T THNH PH H CH MINHB MN: TI CHNH TIN TGV HNG DN: PG!T " #NH THNHBI TH$%T TR#NH NH&M:CH : IN'()TI*N D%N)MIC )ND M*N+T)R% P*(IC%TR)NMII*N IN VI+TN)M )ND +M+RGING )I) , N-NG NG C.) (M PH/T V T$%N T0I CHNH /CH TINT 1 VIT N)M V NH2NG NN KINH T MI N3I 1 CH4$ /!THNH VI5N NH&M:1. L Kim Ngn2. L Th Hong Kim Phng3. L Nht Anh Th. Ng!"#n $ng %&! T'm(. L H!")n T'*ng+. Ng!"#n Th Th*nh Th,o,N-NGNGC.)(MPH/TVTR$%NT0I CHNH/CHTIN T 1 VIT N)M V NH2NG NN KINH T MI N3I 1 CH4$ /T'*ng 1THNG TIN BI B/*Nhn ng" 2 th-ng . n$m 2/13Nhn 0,n 1h2nh 3&* t4 th-ng 1 n$m 2/1Ch56 nhn ng" ( th-ng ( n$m 2/1T'71 t!"8n t4 ( th-ng + n$m 2/1K6 789:931: ;?m 6h-t @ gi,m 6h-t.91: CA! ti)n.9(2: Ch?m 6h-tQ 1h?i Ko nhEng n$m 1!gi th6 nin c/ nhng 3*! PX P[ >5" >?i P t$ngT'*ng 2t'IngQ t$ng t'Ing ;hP t]ng Pgi P)! Pjn K P?t P2nh > d.( i Ko n$m 2//.. k*! PXQtg1 PM t$ng t'Ing 1hm >?iQ P?t (i Ko n$m 2/12Q 1ha "8! > Oo thlt 1hjt 1h?m 6h-t 1h2 3g gi- ti! ORnggi,m t4 1dQ1i I thTi Pi^m 1!gi n$m 2/11 `!gng 1Yn +Qd i Ko 1!gi n$m 2/12 K >?m6h-t 1] 0,n V gi,m t4 1Q3i `!gng cQ+i 3o KGi 1Rng FnW.oj1 OR 1X gi,m >?m 6h-tQ nhng CiBt N*m P[ 6h,i 1h! thiBt h?i Oo >?m 6h-t Kmp1 0i8n PMng 1*o 3o KGi hA! h8t 1-1 n)n Finh t8 mGi nHi I 1h! J t4 giE* n$m 2//.VhNnh 1W. i)! n" 1ho th5" 37 6h,n png Fqm t'ong Fh!rn FhH 1-1 1h?m 6h-tQ Hn Pnh t_ gi-Q K Hn Pnh hB thgng ti 1h?m 6h-t. H]n nE*QPri Fhi >?i 1ho 1-1 F8t D!, t'-i ng1 nh*!. %i Ki8t nhSm m\1 Py th!"8tmr hNnh >?m 6h-tQ 6hAn ( t'Nnh 0" K th,o >!n K) F8t D!, th71 nghiBm 1X P1 t4 6hntiB! Finh t8. Phn t?m 6h-t I CiBt N*m >in t\1 1*o h]n 3o KGi hA! h8t nhEng n)n Finh t8 mGi nHi Fh-1t'ong Fh! K71Z PhAn 1!gi t'Nnh 0" 1-1 F8t >!n P* '* K th,o >!n K) 1-1 P) `!5tQ gi y1h*"3i*2/|nOonw3i* Phi>i66inw3T'*ng 3k'i L*nF* |nOi*1(1/(/=(=1/HNnh 1. C-1 nG1 mGi nHi I Ch! J:>?m 6h-t ton 6hAn VtiB!Pi)! 1h2nh thwo mR*.C! N7DEF G8HE I8JE KL> MNO P7QBCiBt N*m P[ t',i D!* thTi Fn >?m 6h-t t$ng nh*nh Ko n&* nhEng n$m 1cd/ K PA!nhEng n$m 1cc/Q nhng OGi 37 nH >71 >m 0Nnh Hn thN >?m 6h-t P[ nSm t'ong tAm Fi^m3o-t. CiB1 3i8t 1hjt ti)n tB K 1h?m6h-t P[ Pwm >?i 0G1 6h-t t'i^n m?nh m} t'ong nhEng n$m PA! th6 nin 1cc/ Vthwo s!tti)n tB s!g1 t8Q 2/1/u o*>i3~w3FiQ 2/1/WL?m 6h-t P[ O! Pi t'ong Fhi 37 6h-t t'i^n Pi `!gng t'ong nhEng n$m 1!gi 1cc/ KPA! nhEng n$m 2///. T'ong Fhi PX Fhang ho,ng Ch! J > ng!"n nhn 1hm 1hm37 6h-t t'i^n t'ong nhEng n$m 1!gi 1cc/Q 1ng mMt 6hAn Oo t$ng t'Ing Fhrng 0)n KEngt'G1 P" Oo KiB1 6h\ th!M1 nhi)! Ko 1-1 PA! t thm O\ng KgnQ 1ha "8! Oo 1-1 Oo*nhnghiB6 nh nG1 t'ong 1-1 >bnh K71 Fhrng 1?nh t'*nh. Kinh t8 P[ 0lt PA! hmi 6h\1 Ko1!gi n$m 1ccc=6hAn >Gn Oo 37 6h\1 hmi 1a* PA! t t'ong nG1 @ nhng Ken P*ng 6h-tti^n KGi tg1 PM 1hm h]n 3o KGi nhEng n$m PA! 1cc/. CiBt N*m P[ t',i D!* gi,m 6h-tnh t'ong n$m 2/// K 2//1 Oo 3p1 1hp* Kt mp1 K gi- 1, hng hX* gi,mQ 1, >?m 6h-tton6hAnKt2 >B>?m6h-t 1]0,nP[O!"t'N Imp1th56t'ongn$m2//2K2//3Vo*>i3~w3FiQ 2/1/W.L?m 6h-t P[ t$ng m?nh nh 1ho th5" 37 6h-t t'i^n P[ 0lt P1 P t$ng tg1 nh*nh1hXngQ 6h,n -nh 37 O!" t'N t$ng t'ong gi- 1, hng hX* D!g1 t8 K Kt 1A! 1ng t$ngQ Oo6hAn >Gn PA! t >Gn 0Ii 1-1 Oo*nh nghiB6 nh nG1 K 6hong t'o PA! t t'71 ti86 nG1ngoi t'ong KiB1 t?o P 1ho 37 gi* nh6 1a* CiBt N*m Ko tH 1hp1 Th]ng m?i th8 giGiT'*ng 2002Q12002Q2Vs!t ti)n tB D!g1 t8Q 2/1/W. CiB1 >?m 6h-t ton 6hAn P?t mg1 1*o nh5t gAn nh 2(i t'ongD!y 3 n$m 2//d nhng P[ 0lt PA! gi,m m?nh > F8t D!, 1a* nh! 1A! nMi P* "8! K gi- 1,th71 6hfm n$ng >ng ng" 1ng th56 h]nQ gi,m P8n 2Q i t'ong D!y 3 n$m 2//c.T!" nhinQ >?m 6h-t ton 6hAn 3*! PX 0lt PA! t$ng t'I >?i Ko 1!gi n$m 2//cQ P*ng6h,n -nh mMt 6hAn ,nh hIng 1a* gXi F?i 1!M1 Fhang ho,ngton 1A!. oMt 1hB O7 t'E 0lt 0!M1 th56 h]n nhi)! t'n nhEng Fho,n Fy g&i CiBt N*mmng. T'ong n$m 2/1/Q ngn hng Nh nG1 0lt PA! K t?m thTi 3i8t 1hjt 1h?m 6h-tQ nhng ng*" 3*! PX P[ P,o ng1 D!*n Pi^m 1hAn nE* nGi >Ung 1hm >?m6h-t 1X Pi)! 1h2nh t$ng >n P^ P?t 2/Q2i t'ong D!y 3 1a* n$m 2/11. C5n P) >?m 6h-tton 6hAn 3*! PX P[ 1X Pi)! 1h2nh gi,m `!gng P^ P?t +Q3i t'ong s!y 3 n$m 2/12Q 6h,n-nh 37 ,nh hIng mp1 PM 'Mng 1a* gXi ti^n tB K 6h]ng 6h-6 3i8t 1hjt 1h?m 6h-t P)! t4 VHNnh 2WR! STO UVB MN8 BW8 M89:T'*ng (Ti >iB! hiBn 1X K) nhEng PMng >71 K "8! tg D!"8t Pnh >?m 6h-t I CiBt N*m 1YngiGi h?n K 1ho nhEng F8t D!, m! th!en. NhEng nghin 1p! th71 nghiBm Fhrng 1hoth5" K*i t'Y 1a* tHng h6 ti)n tB Pi)! Fhi^n >?m 6h-t I CiBt N*mQ mMt 6hAn 0Ii KN Pi)!n" 1X th^ th*" PHi D!* thTi gi*n. H!ng K P*! V2//dW nhn th5" 'Sng Ph]ng 6h-6 P-nhgi- K) 1!ng ti)n o2=P[ t?o nn t$ng t'Ing 3,n >ng th71 t8 nhng Fhrng >?m 6h-tt'ong gi*i Po?n 1cc(=2//3. s!t ti)n tB D!g1 t8 |oV2//3W 0-o 1-o tNm th5" nhEng th71nghiBm 'Sng t$ng t'Ing ti)n tB mI 'Mng 1X th^ 1h2 > 1/i 1a* 37 th*" PHi t'ong >?m 6h-t1] 0,n t'ong thTi Fn 1cc(=2//3Q K F8t >!n 'Sng K*i t'Y tHng h6 ti)n tB t-1 PMng >n >?m6h-t gi- ti! ORng Fhrng m?nh m 1ng Fhrng D!*n t'xng. Ng1 >?iQ s!t ti)n tB D!g1 t8|oV2//+W F8t >!n 'Sng 37 6h-t t'i^n 1a* 1!ng ti)n o2 P[ ,nh hIng nghim t'xng P8n"8! tg n$ng PMng 1a* >?m 6h-t I CiBt N*mQ KGi KiB1 1hm >*i t'ong 12 th-ngQ t',i D!* t42//1=2//+. NhEng F8t >!n Fh-1 nh*! 1a* s!t ti)n tB D!g1 t8 |oV2//3W K |oV2//+W1X th^ Oo 37 t7 Oo hX* gi- 1, t'ong nG1 D!* thTi Fn 2//2=2//Q m hA! nh 1hl1 1hlnt$ng 37 6h,n png 1a* gi- 1, t'ong nG1 Pgi KGi KiB1 tHng h6 ti)n tB. s!t ti)n tB D!g1 t8|oV2//+W 1ng nhn th5" 'Sng >?m 6h-t gi- ti! ORng CP| 6h,n png t?m 6h-t.H!ng K* P*! V2//dW nghin 1p! K) >[i 3!5t th71 KF8t >!n 'Sng 1ng Fhrng 1X ,nh hIng mMt 1-1h thgng F t'n t$ng t'Ing 3,n >nghoj1 >?m 6h-t gi- ti! ORng CP| D!* gi*i Po?n 1cc+=2//(. i)! n" 6hR h6 KGi th71nghiBm P1 0-o 1-o 0Ii Ng!"wn *nO Ng!"wn V2/1/WQ ngTi tNm th5" 'Sng ,nh hIng1a* 37 th*" PHi t'ong >[i 3!5t nhng '5t "8!Q K 3Gm t'I nn Fhrng D!*n t'xng. C*mwnV2//+W 0-o 1-o 'Sng >[i 3!5t 1hi8m ?m 6h-t I CiBt N*mT'*ng +0 g" '* 0Ii 37 Fh-1 nh*! 1a* t2 gi- hgi Po-i K 37 O th4* ti)n tB mI 'Mng s!t ti)n tBD!g1 t8 |oV2//3W F8t >!n 'Sng 37 O1h 1h!"^n t'ong t2 gi- hgi Po-i O*nh nghb* hiB!O\ng 1hi8m 1/i 1a* 37 th*" PHi t'ong >?m 6h-t 1] 0,n t'ong thTi Fn 1cc(=2//3Q hB 3gt'!")n Oen 1a* 1h /.2( t'ong n$m PA! tin. T'-i >?iQ s!t ti)n tB D!g1 t8|oV2//+WQ nhEng 6hn t?m 6h-t 1a* 1h2 3g gi- ti!ORng CP|. C*mwn V2//+W th71 hiBn G1 t!n 'Sng nhEng nghin1p! t'G1 P" P[ 3& O\ng nhEng OE >iB! t4 nhEng thTi Fn m t2 gi- hgi Po-i >!rn giE 1gPnhQ t'ong Fhi nghin 1p! 1a* hx 0*o gmm thTi FN t4 n$m 2//d P8n 1!gi n$m 2/1/Q Fhi t2gi- hgi Po-i 0i8n PMng m?nh h]n.Lin D!*n P8n gi- 1, hng hX* th8 giGiQ C*mwn V2//+W G1 t 21i K 11iQ 37 Fh-1 nh*! t'ong O7 Po-n >?m 6h-t 1h23g >?m 6h-t gi- ti! ORng CP| 3*! 12 th-ng. oinh V2//cW 1ng tNm '* gn >?m 6h-t gi- ti! ORng.;An P"Q Ng!"wnQ C*Ko>i K i>3on V2/12W 3&O\ng hng >o?t Fb th!t G1 tiB! n" Pi thwo mr hNnh >?m 6h-t 1a* ;o!onV2//+W K P1 3&* PHi 0Ii Ng!"wn K 1-1 t-1 gi, V2/12WQ1ho mMt n)n Finh t8 nhngi-{1h! gi- Vn)n Finh t8 mI nhng nhUQ Fhrng Pi PA! K) gi- P1Q 6h,i 1h! gi- t4 th8giGiW nh CiBt N*m. C5! t'L1 mr hNnh P1 gi,i thwW K hng hX* 6hi th]ng m?i Vnon=t'*O*0>wWQ `-1 Pnh 0IiT'*ng . 6t 6tT V1 @ W 6tNT V1W.T'ong PX 6 >5" >ogo'it 1h2 3g gi- ti! ORng VCP|WQ 6T K 6NT >5" >og*'it gi- 1a* 1-1hng hX* th]ng m?i K hng hX* 6hi th]ng m?iQ > t'xng 3g 1g Pnh 1a* gi- 1a* 1-1hng hX* th]ng m?i K hng hX* 6hi th]ng m?i t'ong CP| V/1WQ K > PM 1hnh>B1h Vi'3t Oiw'wn1w o6w'*to'W.CGi mMt n)n Finh t8 nhU 1h! gi-Q t_ >B th*" PHi 1a* gi- hng hX* th]ng m?i > 6tT t 6t V2WT'ong PX >5" >og*'it 1a* Vthw >og oW t_ gi- O*nh nghb* KGi kh K 6 > gi- D!g1t8 1a* hng hX* th]ng m?i Vt* hX* '5t m?nhQ 37 0i8n thin t'ong t_ gi- g" ,nhhIng Fhrng 1h2 gi- 1a* hng hX* th]ng m?i m 1, gi- 1a* hng hX* 6hi th]ng m?i.C< O\Q I CiBt N*mQ mMt 3g hng hX* 6hi th]ng m?iQ 1\ th^ > hng hX* >! 0)n VO!'*0>wgooO3W K 05t PMng 3,n P1 Pnh gi- 0Sng Pmng Pr>*. Thm nE* > 1-1 O1h K\Q 0*o gmm1-1 h6 Pmng Oi h?n K 1ho th! 1ng P1 0-o gi- 0Sng Pmng Pr>*. ho PXQ nhEng 37th*" PHi t_ gi- Pi D!* >?m 6h-t t-1 PMng >n nhi)! mjt hng t'ong nG1 h]n 3o KGi t'ongmMt n)n Finh t8 Fhrng 0 Pr>* hX*. H]n nE*Q 3*! mMt >An t_ gi- gi,m thN 37 t$ng gi- 1a*1-1 mjt hng th]ng m?i K 6hi th]ng m?i 1X gi- gln KGi t_ gi- 3} ,nh hIng 1A! K1!ng 1a* 1-1 hng hX* 6hi th]ng m?i Fh-1. k7 th*" PHi K) gi- hng hX* 6hi th]ng m?iP1 Pnh nghb* 0Ii ;o!on V2//+W nh 3*!6tNT 9Ct=1 t V3WT'ong PX 9C > 3g ti)n Kt D!- K > t-1 PMng 1a* gi- P1 Pnh 0Sng PmngPr>* 1a* nhEng hng hX* 6hi th]ng m?i 1\ th^. 9C 1X PM t'# Vin >*ggwO o'mW KN gi, Pnh'Sng nhEng ngTi nlm giE 3g ti)n Kt D!- >L1 PA! t?i Fho,ng thTi gi*n hiBn t?i 3} Pi)!1h2nh KiB1 nlm giE 1a* hx K t?o nn -6 >71 >?m 6h-t Ko 1!gi Fn.Crng thp1 >?m 6h-t P1 t?o '* 0Sng 1-1h th*" V2W K V3W Ko V1W:6t V1 @ W t 6t V1 @ W 9Ct=1VWC 1X th^ Ki8t gxn >6t K1t K26t K3 9Ct=1 V(WT'*ng dTh*" KN ORng G1 >ng 2 0G1 nh ;o!on V2//+WQ 1hLng t* ORng 1-1h ti86 1nt'!")n thgng h]n 1a* Ng!"wn K 1-1 t-1 gi, V2/12W 0Sng 1-1h 1ho 'Sng 1A! ti)n > mMthm tHng 1A!{PA! '* K >[i 3!5t O*nh nghb*. K8t D!, > mMt mr hNnh >?m 6h-t KGi hm 1a*>?m 6h-t gi- nG1 ngoi K 0G1 1h!"^n t'ong 1-1 0i8n Finh t8 1h >[i 3!5t O*nh nghb* V>[i 3!5t t-i 156 KgnWQ > mp1PA! '* th71 V;hPW K t > 3*i 3g.HB 3g 1a* 1!ng ti)n K >[i 3!5t 6h,i 6h,n -nh ,nh hIng 1a* 1hn>?m 6h-t. Ly th!"8t Finh t8 1ho 'Sng 1!ng ti)n t$ngQ >?m 6h-t gi- nG1 ngoi K t_ gi-O*nh nghb* gi,m 3} ,nh hIng t?m 6h-t t'ong nG1Q t'ong Fhi t$ng >[i 3!5tK t$ng t'Ing PA! '* 1*o h]n V1oi 'Sng nX 6h,n -nh n$ng 3!5t 1*o h]n K Fhrng KtD!- 1A!W 3} ,nh hIng ti! 171 P8n >?m 6h-t t'ong nG1.ChLng t* ti86 t\1 KGi 1rng thp1 V+WQ P1 Po K) 6hAn t'$m th*" PHi 1a* 1-1 0i8n t4n$m t'G1Q t'4 >[i 3!5tQ t'ong PX ORng >[i 3!5t Vt-i 156 KgnW O*nh nghb* 1!gi Fn.[! AK M\]EF ?m 6h-t Fn Kxng tmnt?i >! K Ngn hng t'!ng ]ng thN th\ PMng th*" KN tNm 1-1h 1hgng >?i >?m 6h-t. T'G1 Fhi th71 hiBn G1 >ng Finh t8 mr hNnh n"Q 1An `wm `qt gi- t' 1h!i thTigi*n 1a* 1-1 0i8n t'ong mr hNnh. K8t D!, Fi^m Pnh nghiBm P]n K V!nit 'oot tw3tW tORng Fi^m Pnh Ah Vhi1Fw"=!>>w' mI 'Mng @ A!gmwntwO hi1Fw"=!>>w'W P1 t'NnhT'*ng c0" I 0,ng 1 OGi P" K 1ho 'Sng gi, th!"8t Fhrng Vn!>> h"6othw3i3W 1a* mMt nghiBmP]n K 1X th^ Fhrng P1 1h56 nhn t5t 1, 1-1 0i8nQ t'4 0i8n t$ng t'Ing tt?i ngngV0o'Ow'>inwWKm]hmV*m0ig!o!3W. hE >iB! K) ;hP th71 P1 Pi)! 1h2nh thwo mR*Q 3& O\ng D!- t'Nnh Pi)!1h2nh thwo mR* TzAo{k9ATk V'*n3w3Q P**6 K oFQ 2//(W. T5t 1, 1-1 0i8n P1 Po>Tng K) 6hAn t'$m th*" PHi t'ong n$m t'G1Q t'4 >[i 3!5tQ ORng >[i 3!5t t-i 156 Kgn 1!giFn VKGi 0i8n n" Fhrng PHiQ `wm OGi P"W.[!C! CQK BbZE7 `8a: MNO P7QB e V89B N>O MW FZf%G1 PA! tin >in D!*n P8n G1 >ng Lk 1a* 1 6h]ng t'Nnh gi,i th?m 6h-t ti! ORng ton 6hAn CP| D!* 1-1 thTi Fn 2///s1 = 2/12s2 nh 1 nhiBm K\ 1a*37 t$ng t'Ing ;hPQ 37 t$ng t'Ing tB 6hAn t'$m t'ong gi,m 6h-t gi- nh6 Fhf! P1 3& O\ng nh1 37 P?i OiBn 1ho >?m 6h-t gi- nG1 ngoiQ K tHng t?i F8t D!, thgng F y nghb* K thi8t th71 h]n0iBn 6h-6 1!ng ti)n ti! 1h!fn. C-1 6hq6 th& 1a* s!*nOt=AnO'w3 1ho gi-n Po?n K) 15!t'L1Q t!" nhinQ 1!ng 156 0Sng 1hpng m?nh m} 1ho 1-1 gi-n Po?n 15! t'L1 t'ong 2//s1K t'ong 2//.s.HNnh. 3. CiBt N*m: Ch2 3g >?m 6h-t ti! ORngCP|Q >[i 3!5t O*nh nghb*Q 37 t$ngt'Ing t `hE ^i FjK kF8g B7:lJB: `hE ^i FjKmB8JE )D'CP| Vti! P)W >?m 6h-t =(.1//T$ng t'Ing ;hP th71 =3.c.T$ng t'Ing t[i 3!5t ti)n g&iQ K 1ho K*" ngo?i tB. k7 6h- K 15! t'L1 Ko 2//.s 1X >} >in D!*nP8n KiB1 CiBt N*m gi* nh6 tH 1hp1 th]ng m?i th8 giGi VTW t'G1 PX t'ong n$m n*"K 1-1 0iBn 6h-6 th71 hiBn P^ hon thnh 1-1 1*m F8t thnh Kin 1a* T. H]n nE*QFh! K71 ngn hng P[ Pi D!* 1 thTi Fn t-i 1] 15! Fh- nh*nh Ko n$m 2//. nh nX P[1h!fn 0 1ho 37 1?nh t'*nh t$ng >nQ KGi m\1 PGn h]n VNg!"wn K* Ng!"wnQ2/1/WNgTi t* 1ho 'Sng 37 ti86 1n mr hNnh t7 hmi D!" Kw1to' VCAzW > th?m 6h-t I CiBt N*mQ 1ha "8! > Oo 1-1hti86 1n n" 1ho 6hq6 1hLng nlm 0lt t-1 PMng D!* >?i 1 1-1h PA" Pa giE* 1-1 0i8n Finh t8Kb mr K 1-1 hiB! png 6h,n hmi 1a* 1hLng. C-1 0i8n nMi 3inh t'ong CAz 0*o gmm 1h2 3g>?m 6h-t ti! ORng CP|Q t$ng t'Ing ;hPQ 37 t$ng t'Ing t?m 6h-t 1ho 1-1 0i8n nMi 3inh Fh-1 t'ong mrhNnh 1a* 1hLng tri P1 t71 1a* mr hNnh t7 hmi D!" Kw1toCAzQ t'ong PX PM 1o gi[n P1 th! hmi 0Sng 1-1h 1hi* 1-1 6h,n png `!ng t" t'ong>?m 6h-t P8n mMt 1L 3g1 Pgi KGi mMt t'ong 1-1 0i8n t'ong hB thgng 3*! Fhi D!y 0Ii 1-16h,npng`!ng>71 t"1a* 1-1 0i8nnMi 3inhP^ 1L3g1 t]ngt73*! D!yV;!wo'g!iwKQ 2//3u Lwigh zo33iQ2//2WC-1 6h,n png `!ng Fhl1 P1 O7* t'n 37 6hn tw3F" 1a* m* t'n 6h]ng3*i @ hiB6 6h]ng 3*i 1a* 3*i 3g t4 G1 >ng 1a* CAz. L?m 6h-t gi- nG1 ngoi P1>5" ngo?i 3inh K ,nh hIng P8n t5t 1, 1-1 0i8n Fh-1 t'ong mr hNnhQ F^ 1, ngln h?n KOi h?n. T't t7 1a* 1-1 0i8n P[ P1 3& O\ng 1ho 37 6hn tw3F" nh: >[i 3!5tO*nh nghb*Q t$ng t'Ing ;hP th71 t8Q tg1 PM t$ng t'Ing tHng t >[i 3!5t O*nh nghb* ,nh hIng P8n t5t 1, 1-1 0i8n nMi 3inh Fh-1 t'ongmr hNnh ngln h?nu t$ng t'Ing ;hP th71 t8 Fhrng ,nh hIng P8n >[i 3!5t O*nh nghb*Pmng thTi 1ng Fhrng ,nh hIng P8n 0* 0i8n ngo?i 3inh Fh-1u tg1 PM t$ng t'Ing tHng t?m 6h-tton 6hAn t'ong ngln h?nu 37 0i8n PMng t_ gi- hgi Po-i O*nh nghb* hiB! O\ng 1h2 1X t-1PMng Pmng thTi t'ong >?m 6h-tu K >?m 6h-t 0 ,nh hIng t'ong ngln h?n 0Ii 1-1 0i8nFh-1 t'ong mr hNnhQ nhng t'ong ngln h?n Fhrng t-1 PMng Pmng thTi P8n 1-1 0i8n nMi3inh Fh-1 t'ong mr hNnhC-1 6h,n png `!ng Fhl1 t'ong >?m 6h-t ton 6hAn KGi 1-1 1L 3g1 t'ong 1-1 0i8nnMi 3inh Fh-1 P1 t'Nnh 0" t'ong HNnh. . G1 >ng PM 1o gi[n P1 th^ hiBn t'ong%,ng 2Q n]i PM 1o gi[n 1X y nghb* thgng F P1 tr m! KngQ nhEng n]i Fhrng 1X ynghb* thgng F P1 tr m! 1*mC-1 6h,n png `!ng 1ho th5" 'Sng 1-1 t'Nnh Pi)! Fhi^n 1h?m 6h-t t'ongngln h?n > 37 0i8n PMng t'ong t_ gi- hgi Po-i O*nh nghb* hiB! O\ngQ t'ong Fhi PX t'ongt'!ng h?nV h*i P8n mTi D!yW 37 t$ng t'Ing ;hP K 37 t$ng t'Ing t 1-1 "8! tg ng!"n >y t't >?m 6h-t. Ph,n png 1a* >?m 6h-t P8n 37 gi* t$ngt'ong >[i 3!5t O*nh nghb* OTng nh 1X y nghb* 1h2 t'ong h*i D!y PA!Q K > 6h,n t'71T'*ng 12gi-1 = tn!oKo *nO k!'i1o V2//+W 1ho 'Sng Pi)! n" 1X th^ `," '* n8! 1Xt?m 6h-t O7 Fi8n K ngn hng t'!ng ]ng th\ PMng 1hp Fhrng 6h,i tinti8n h]n t'ong KiB1 P-6 png >?m 6h-tQ m 1Rng nh*! 1X th^ t?o '* t'?ng th-i P* 1n 0Sng.Hx th5" 'Sng nhEng thi8! 3Xt t'ong CAz3 1a* mMt 0i8n nlm 0lt P1 t?m 6h-t O7 Fi8n OGi 05t Pnh 1X th^ gi,i th[i 3!5tW 1X1-1 0i8n nMi 3inh Fh-1 t'ong mr hNnhZ HNnh ( 1ho th5" 1-1 6h,n png `!ng Fhl1 1a* 1-10i8n nMi 3inh I mMt Pi^m >B1h 1h!fn KGi >[i 3!5t O*nh nghb*Q t'ong Fhi G1 >n PM 1ogi[n P1 th^ hiBn t'ong 0,ng 3u nh t'G1Q PM 1o gi[n 1X y nghb* thgng F P1 tr m!KngQ t'ong Fhi nhEng 1-i Fh-1 Fhrng 1X y nghb* thgng F P1 tr m! 1*m. C-1 6h,npng `!ng Fhl1 1ho th5" 'Sng nhEng 1L 3g1 >[i 3!5t O*nh nghb* 1X t-1 PMng ti! 171 D!*nt'xng P8n 37 t$ng t'Ing ;hP h]n n$m D!yQ K t'n 37 t$ng t'Ing t?iQ C-1 F8t D!, th71 nghiBm 1a* 1hLng t* 1ho th5" 'Sng 1-1 t'Nnh Pi)! Fhi^n1h?m 6h-t ngln h?n > 1-1 t-1 PMng t'ong t2 gi- hgi Po-i O*nh nghb* hiB! O\ng.k7 t$ng t'Ing t[i3!5t 1X 1 t-1 PMng P-ng F^ t'n 37 t$ng t'Ing ;hP K t'n 37 t$ng t'Ing t?m 6h-t KGi 1-1 1L 3g1 t'ong 1-1 0i8n nMi 3inh[!R 8a: FZ F8g8 B7dK7 MNO P7QB B\hEF `j8 K>n KL> V89B N>O on ^A8 KQK EaE h! D!, 1a* 37 Pi)! ti8t 1h gi- 1,hnghX* 1*o t$ng h]n V th71 6hfm Pj1 0iBtW . T'ong 3!gt n$m 2/1/ K 2/11 CiBt N*m P[ t',iT'*ng 1D!* mMt t_ >B >?m 6h-t 1*o h]n 3o KGi 05t Fn th t'Tng mGi nHi no Fh-1 I 1h! JQ ngo?it'4 t'ong 2/1/s2.PhAn n" 3} t'Nnh 0" 1-1 F8t D!, G1 tiB! hng D!y t'ong Fho,ng thTi gi*n 2//s1 =2/12s2Q K P1 G1 t[i 3!5t O*nhnghb* = P1`-1Pnh thwoD!yt'G1K3}P1th*"PHi t_>B6hAnt'$m t'n3g>iB! Pi)! 1h2nh thwo mR*. or hNnh n" 1ng 0*o gmm 1-1 0i8n gi, K) th*" PHi 1] 15!Qt'ong 2//.sVCiBt N*m KnMW hoj1 2//ds3 VPhi>i66inw3Q o*>*"3i*Q |nOonw3i* KTh-i L*nWQ P1 nSm t'ong giGi h?n 0 1hln. oMt gi*i Po?n P]n >Q 0i8n gi, 1ng P10*ogmmu 1hngh?n |nOonw3i* t'ongD!y |Cn$m2//( P^ 6h,n-nht-1PMng P8n>?m6h-t 1a* mMt 37 gi* t$ng 12.i gi- nhin >iB! 0-n > t'!ng 0Nnh 0*n hnh ng" /1 th-ng1/ n$m 2//(.-nh gi- mr hNnh ;oo VmMt mr hNnh hmi D!" G1 >ngW Vthw moOw> Oiw'wn1wOgwnw'*>i~wO mwthoO=o=momwnt3 V;oo WFhrng P1 3& O\ng KN tng>Gn1-1 P]nK mjt 1lt ng*ngV*1'o33=3w1tion*>WQ 05t F^3g>ng 1-1D!*n3-t 1h!i thTigi*nu me! 1a* 1hLng tri thN ng1 >?i 1h2 1X t-m D!*n 3-t mjt 1lt ng*ng K mMt 3g >ngt]ng Pgi >Gn 1a* Fho,ng thTi gi*n. ojt Fh-1Q hiB! png 1g Pnh ti! 1h!fn G1 tng 1a* hB 3g 1a* 0i8n 6h\ th!M1 t'# P1 thin K `!gngQ mj1 OR Ni1Fw>> V1cd1W P[ 1h2'* 'Sng G1 t?m 6h-t K 0i8n PMng P]ng thTiQ gi- nh6 Fhf! > "8! tg D!"8t Pnh D!*n t'xng 1a* >?m6h-t. Tg1 PM t$ng t'Ing t\t ;hP hoj1 1a* 1!ng ti)nQ>[i 3!5t O*nh nghb* 3o KGi 0i8n PMngT'*ng 1.t'ong t_ gi- hgi Po-i O*nh nghb* hiB! D!, K 1X PM t'# OTng nh Fhrng PXng K*i t'Yt'ong gi,i th?m 6h-t D!* me! t'ong gi*i Po?n >6 O7 to-n.K8t D!, Finh t8 Pgi KGi CiBt N*m 1ho th5" mMt mp1 PM 1*o h]n nhi)! 1a* 37 FqoOi t'ong >?m 6h-t 3o KGi 1-1 nG1 Fh-1 V%,ng Q hmi D!" 2W. j1 0iBtQ mMt Pi^m 6hAnt'$m >?m 6h-t t'ong D!- Fhp 1X >in D!*n KGi 37 gi* t$ng >?m 6h-t 1*o h]n Fho,ng /Qd.t'ong gi*i Po?n hiBn n*" t?i CiBt N*m = /Q(1 Pi^m 6hAn t'$m 1*o h]n 3o KGi 1-1 me!t'!ng 0Nnh. Thwo nh F8t D!, K nh t'ongHNnh. +Q 1-1 t-1 PMng 1a* mMt 1L 3g1 K) >?m6h-t 3} ,nh hIng>! h]n nE* t?i CiBt N*m 3o KGi 1-1 n)n Finh t8 mGi nHi Fh-1 I 1h!J.i)! n" 1X th^ 6h,n -nh 37 Pi)! 1h2nh 1hm 1h?6 1a* nhEng Fn Kxng >?m 6h-tQK { hoj1 37 Pi)! ti8t 1h[i 3!5t O*nhnghb* Fhrng t\t mMt Fho,ng thTi gi*nQ K 1ng Fhrng t\t t$ng t'Ing 1a* 1!ng ti)nQ 1X,nh hIng P8n >?m 6h-t I CiBt N*m h*" I 1-1 n)n Finh t8 1h! J mGi nHi Fh-1 t'ongme!. K8t D!, Finh t8 1ng 1ho th5" PM t'# t$ng t'Ing ;hPQ K PM t'# 0i8n PMng t_ >B1a* gi- hgi Po-i O*nh nghb*Q P[ 1X mMt t-1 PMng D!*n t'xng K) >?m 6h-t I CiBt N*mQFhrng gigng nh I 1-1 nG1 Fh-1 t'ong Fh! K71Q t'n me! t]ng t7. T7 Oo hX* 1-1 mp1gi- 0 D!,n >y V*Omini3tw'wO 6'i1w3W I CiBt N*m 1X th^ t$ng 1Tng 1-1 1] 1h8 t'!")n t,ithrng D!* PX tHng 1A! 0 ,nh hIng >?m 6h-t t4 n$m 2//2 t'I Pi V`wm |oQ 2//+W. C-1F8t D!, th71 nghiBm 1ho th5" 'SngQ t'n me!Q tg1 PM t$ng t'Ing ;hP 1i 1X >in D!*nKGi 37 gi* t$ng t_ >B >?m 6h-t Fho,ng 1Q/3i. T'*ng 1dC-1 F8t D!, th71 nghiBm 1ng 1ho th5" 'SngQ Fhrng gigng nh I 1-1 n)n Finh t8th t'Tng mGi nHi Fh-1 I 1h! JQ mMt 37 th*" PHi 1a* 1i t_ gi- hgi Po-i O*nh nghb* hiB!D!, 1X >in D!*n KGi 37 gi* t$ng >?m 6h-t /.33i t?i CiBt N*m. L?m 6h-t nG1 ngoi Vnh!_ nhiBm 0Ii 1-1 6hong t'o t'ong 1h2 3g gi,m 6h-t gi- nh6 Fhf!W 1ng 1X mMt 6hAn nom?nh h]n t-1 PMng P8n >?m 6h-t I CiBt N*m 3o KGi 1-1 n)n Finh t8 th t'Tng mGi nHi1h! J Fh-1 t'ong me! 1a* 1hLng tri.s! C7dE7 oQK7 ?m 6h-t K t$ng t'Ing ZK8t D!, nghin 1p! th71 nghiBm 1a* 1hLng tri 1ho th5" 'Sng D!- t'Nnh Pi)! ti8t1a* >?m 6h-t t'ong ngln h?n > nhEng O1h 1h!"^n 1X y nghb* thgng F 1a* t_ gi, hgi Po-iO*nh nghb*.T$ng t'Ing t 1i F8t h6 KGi 37 gi* t$ng >?m 6h-t hiBn n*" I CiBtN*m > /Qd.i 1*o h]n /Q(1i 3o KGi >?m 6h-t t'!ng 0Nnh. i)! n" nXi >n 37 Pi)! 1h2nh>?m 6h-t th56 h]n 3o KGi Fn KxngQ K hoj1 1h!n 'Sng 1] 1h8 t'!")n t,i1hB t-i 156 Kgn K >[i 3!5t1hi8t Fh5!Q Fhrng t?o '* mMt hnh >*ng PLng Pgi KGi 1-1 mp1 >[i 3!5t >in ngn hng Thp 0*Q nX 1ng 3} '5t hE! 6 mMt hnh >*ng >[i 3!5tQ F8t h6 1, >[i3!5t 1ho K*" K >[i 3!5t h!" PMngQ nh > mMt 1rng 1\ D!*n t'xng 1a* 1h*ng giGi thiB! th-ng ( n$m 2//dQ 0*o gmm t_ >B t-i 156 Kgn K >[i 3!5t 1hi8tFh5!Q Fhrng t?o '* mMt hnh >*ng PLng Pgi KGi 1-1 mp1 >[i 3!5t >in ngn hng F^ t4 Fhi1,h*iP)!>Q t'ongth71t8Q >[i3!5t1hoK*".P"nX1X>inD!*nP8n>!y'Sngooh*nt"KT!'nw' V2//dWF8t >!n'Sng37'*PTi 1a*mMt Fh!rnFhHth*nhFho,nm*n*gwmwn mGi I n M Ko n$m 2//Q thi8t >6 mMt hnh >*ng 1ho 37 1h!"^n PMng 1a*t_ gi- >in ngn hng ng"Q Oen P8n mMt 37 1,i thiBn P-ng F^ t'ong 1-1 Ngn hng O7 t'EFi^m 3o-t 1a* n M h]n >[i 3!5t th t'Tng LTi 1-m ]nT-1 gi, `in g&i >Ti 1,m ]n P8n A3hKin Ah!* Q Kw>>" 91Fho>O Q k*n*" K*>'* QHwwOon K*ng Q Thx Ng!"#n Q k*m !>i*'i3 Q o*3*hiFo T*FwO*Q K Ch'i3 Tow P[ 1honhEng P) ngh K y Fi8n '5t hE! i K thi8! 3Xt nSm t'ong 6h?m Kit'-1hnhiBm 1a* t-1 gi,.P7u MuK oj M89:B8JE oj NF:vE oj M89:) m\1 CP|THng 1\1 thgng F CiBt N*mQ H*Kw' K 1] 3I OE >iB! C9|CT'!ng tm CP| THng 1\1 thgng F CiBt N*mCh2 3g gi,m 6h-t gi- nh6 Fhf!C] 3I OE >iB! ;99Q D!t ti)n tB D!g1 t8 mri t'Tng Finh t8 ton 1A!;hP th71 THng 1\1 thgng F CiBt N*m K 1] 3I OE >iB! TiB! t4 nhi)! nG1T'*ng 21B8JE oj NF:vE oj M89:>71T7>O * hX*: T'Tng h61a* CiBt N*m. T?6 1h< Kinh t8 3o 3-nhQ 3Q (+=(d1.;!wo'g!iwKQ N. V2//3W. T'!")n Oen ti)n tB t?i zom*ni* |o o'Fing P*6w' /{223*3hingtonQ hCQ Ho* Kn: s!t Ti)n tB s!g1 t8.HngQ L. C.Q P*!Q . h. V2//dW. Phn ti3~w3FiQ . k. V2/1/W. CiBt N*m: O7 to-n %*"w3i*n 1a* 1hnh >B1h 3,n >ng|o o'Fing P*6w' 1/{1c *3hingtonQ hCQ Ho* Kn: s!t Ti)n tB s!g1 t8.oinhQ C. C. V2//cW. T'!")n Oen ti)n tB K t-1 PMng 1a* nX Pgi KGi >?m 6h-t I CiBtN*m Ch Ki8t 1rng t'Nnh 3g /c/2 CiBt N*m: hi#n Pn Ph-t t'i^n CiBt N*m.ooh*nt"Q o. k.Q T!'nw'Q P. V2//dW. T'!")n t,i 1hiQ T.Q i>3onQ K V2/12W. C-1 "8! tg D!"8t Pnh >?m 6h-t ICiBt N*mQ 2//1=/c. %,n tin Finh t8 Ak9ANQ 2c V1WQ 1=1.Ni1Fw>>Qk.V1cd1W.NhEngthnh Fi8n t'ongmrhNnhPMngKGi1-1hiB! png1gPnh. 91onomwt'i1*Q c.kim3Q C. A. V1cc2W. ;i,i th