Kinh Tế - Quản Lý - Kinh tế - Quản lý - Kiến trúc - Xây dựng 6͙ ,, WKiQJ 2 1Jj\QKұQ 1Jj\QKұQEҧQVӱD 1Jj\GX\ӋWÿăQJ LӟLWKLӋX ҩWEuQKÿҷQJWKXQKұSOjPӕLTXDQWkPFӫDQKLӅX QJѭӡLQKLӅXTXӕFJLDӣFiFPӭFÿӝNKiFQKDX.KL mKӝLQJj\FjQJSKiWWULӇQQJѭӡLWDFjQJTXDQWkP ÿӃQYҩQÿӅF{QJEҵQJQKLӅXKѫQ7ăQJWUѭӣQJNLQK WӃQJRҥQPөFQKѭQJYүQÿzLKӓLSKҧLÿLÿ{LYӟLF{QJ EҵQJmKӝLÿyOj\rXFҫXFӫDPӝWmKӝLSKiWWULӇQ WRjQ GLӋQ Yj Oj PөF WLrX Pj QKLӅX TXӕF JLD ÿDQJ KѭӟQJÿӃQiFWjLOLӋXFKRWKҩ\EҩWEuQKÿҷQJWKX QKұSYjEҩWEuQKÿҷQJWLӅQOѭѫQJÿmWăQJOrQӣQKLӅX QѭӟFNӇWӯQKӳQJQăPӣFҧFiFQѭӟFSKiWWULӇQ QKѭ+RD.ǤÿDQJSKiWWULӇQQKѭ0HLFRYjPӝWVӕ QѭӟFNKiFӣFKkX0ӻDWLQK«ҩWEuQKÿҷQJÿDQJ OjPӝWWURQJQKӳQJQJX\rQQKkQJk\QrQVӵEҩWәQ NK{QJQKӳQJӣSKҥPYLTXӕFJLDPjFzQӣSKҥPYL WRjQWKӃJLӟLҩWEuQKÿҷQJYjWuQKWUҥQJÿyLQJKqR FQJFӵFÿmÿѭӧFWKӯDQKұQOjPӝWWURQJQKӳQJ\ӃX WӕWK~Fÿҭ\OjQVyQJFiFKPҥQJ0DXkQҦ5ұSEҳW ÿҫXYjRFXӕLQăP ĈӇJLҧLTX\ӃWWӕWYҩQÿӅEҩWEuQKÿҷQJYLӋFiF 7ÈĈӜ1Ӫ)'''',Ĉӂ1Ҩ7Î1+ĈҶ17+81+Ұ3 Ӣ1+Ï01ѬӞ7+81+Ұ37581Î1+7+Ҩ3 1JX\ӉQ7KDQK+ҵQJ .KRD.LQKW͇SKiWWUL͋Q7U˱ͥQJĈ̩LK͕F.LQKW͇±Ĉ̩LK͕F4X͙F JLD+j1͡L (PDLOKDQJQJX\HQ\DKRRFRP 7yPWҳW jLYL͇WQJKLrQFͱXWiFÿ͡QJFͯD)'''',ÿ͇QVWKD\ÿ͝LPͱFÿ͡ḘW EuQKÿ̻QJWKXQK̵SͧQ˱ͣF FyPͱFWKXQK̵SWUXQJEuQKWK̭SJLDLÿR̩QE̹QJFiFKV ͵GͭQJGzQJFK̫\)'''',NKiF QKDXJ͛PFy)'''',NKDLWKiFWjLQJX\rQ)'''',V̫QX̭WYj)'''',WK˱˯ QJP̩LG͓FKYͭ''''DWUrQYL͏F V͵GͭQJP{KuQKWiFÿ͡QJQJ̳XQK LrQYͣLV͙OL͏XP̫QJEjLYL͇W FXQJF̭SFiFE̹QJFKͱQJWKF WL͍QY͉WiFÿ͡QJFͯDWͳQJOR̩L)'''',NKiFQKDXÿ͇QḘWEuQKÿ̻QJ WKXQK̵SĈ͛QJWKͥLFiFKWKͱF FiFNrQKWiFÿ͡QJFͯDWͳQJOR̩L)'''',ÿ͇QḘWEuQKÿ̻QJWKXQK̵S FNJQJÿ˱ͫFFK͑UD7ͳÿyEjL YL͇Wÿ˱DUDP͡WV͙NKX\͇QQJK͓FKtQKViFKQK̹PK˱ͣQJWͣLP͡W9L͏ W1DPQJj\FjQJSKiWWUL͋Q F{QJE̹QJWL͇QE͡WURQJE͙LF̫QKK͡LQK̵S733( 7ӯNKyDҩWEuQKÿҷQJWKXQKұS)'''',P{KuQKWiFÿӝQJQJүXQKLrQ ,PSDFWVRI)'''',RQLQFRPHLQHTXDOLW\LQORZPLGGOHLQFRPHFRXQWULHV EVWUDFW 7KLVUHVHDUFKHDPLQHVWKHLPSDFWVRI)'''',RQWKHFKDQJHVRILQFRPHLQHTXDOLW\ZLWKLQORZ LQFRPHFRXQWULHVLQWKHSHULRGRIE\XVLQJGLIIHUHQWLQZDUG)'''',ÀRZVLQFOXGLQJ SULPDU\ UHVRXUFHHWUDFWLRQ VHFRQGDU\ PDQXIDFWXULQJ DQGWHUWLDU\ FRPPHUFLDOSURGXFWLRQV DQGVHUYLFHV DFFRUGLQJWRWKHGLYLVLRQRI,QWHUQDWLRQDO7UDGHHQWHU\DSSO\LQJUDQGRPHIIHFWV PRGHOVWKHLPSDFWRIHDFKGLIIHUHQWW\SHRI)'''',RQLQFRPHLQHTXDOLW\LVVKRZQE\HPSLULFDO HYLGHQFHV7KLVSDSHUDOVRDQDO\HVKRZHDFK)'''',W\SHDIIHFWVLQFRPHLQHTXDOLW\7KHQSROLF\ UHFRPPHQGDWLRQVDUHSURYLGHGWRKHOS9LHWQDPEHPRUHGHYHORSHGIDLUDQGSURJUHVVLYHLQWKH FRQWHWRILQWHUQDWLRQDOLQWHJUDWLRQ .H\ZRUG,QFRPHLQHTXDOLW\)'''',UDQGRPHIIHFWVPRGHOV 6͙ ,, WKiQJ 3 ÿӏQK QJX\rQ QKkQ FiF QKkQ Wӕ WiF ÿӝQJ Yj NrQK WUX\ӅQGүQOjKӃWVӭFFҫQWKLӃW1KuQFKXQJEҩWEuQK ÿҷQJOjPӝWYҩQÿӅWѭѫQJÿӕLSKӭFWҥSYjFKӏXWiF ÿӝQJ Wӯ QKLӅX QKkQ Wӕ NKiF QKDX 0ӝW Vӕ QKkQ Wӕ ÿѭӧFFiFQKjNLQKWӃKӑFÿӅFұSÿӃQJӗPFy0ӭF SKiWWULӇQNLQKWӃ .XQHWVDUUR Ĉӝ PӣFӫDQӅQNLQKWӃ DUUR0DUUHZLMN ҥPSKiW (DVWHUO\ )LVKHURUQLD 7UuQK ÿӝ JLiR GөF DUUR HPLHX 7KӇ FKӃ 5RGULN UDGVWHLQ 0LODQRYLF KLWLrXFKtQKSKӫ DOGHURQ 6HUYHQ KDWWHUMHH 7XUQRYVN\ Yj 7KDP QKNJQJ XSWD FӝQJVӵ rQFҥQKÿyVӵJLDWăQJ OXӗQJYӕQ)'''',ÿLFQJYӟLJLDWăQJEҩWEuQKÿҷQJ WKXQKұSӣKҫXKӃWFiFQѭӟFWURQJEDWKұSNӹTXD ÿmNKLӃQFiFQKjNKRDKӑFSKҧLÿһWFkXKӓLYӅPӕL OLrQKӋFyWKӇFyJLӳDKDL\ӃXWӕQj\ĈmFyQKLӅX Oê WKX\ӃW OLrQ NӃW KDL \ӃX Wӕ Qj\ YӟL QKDX QKӳQJ QJKLrQ FӭX WKӵF QJKLӋP G SKRQJ SK~ QKѭQJ NӃW TXҧWKXÿѭӧFFzQFKѭDÿӗQJQKҩW1KuQFKXQJPӕL TXDQKӋQj\SKөWKXӝFYjRPӭFSKiWWULӇQNLQKWӃ NKҧQăQJKҩSWKөWUuQKÿӝJLiRGөFEҧQWKkQWӯQJ ORҥL)'''',« y QKLӅX FiFK SKkQ ORҥL )'''', 0ӛL ORҥL )'''', Fy QKӳQJÿһFÿLӇPYjWiFÿӝQJODQWӓDQKҩWÿӏQKNKiF QKDXÿӃQNLQKWӃmKӝLFӫDQѭӟFWLӃSQKұQKҷQJ KҥQ)'''',WURQJFiFQJjQKQJX\rQOLӋXVѫFҩS GӵD QKLӅX YjR YӕQ Yj ODR ÿӝQJ QKѭ Q{QJ QJKLӋS KRһF NKDL NKRiQJ WKѭӡQJ Fy WiF ÿӝQJ ODQ WRҧ NӃW QӕL YӟLFiFNKXYӵFNKiFUҩWKҥQFKӃ7URQJNKLÿyYӕQ )'''',WURQJFiFQJjQKVҧQXҩWEұFFDRQKѭOҳSUiSYj FKӃWҥRKD\FiFQJjQKGӏFKYөQKѭWjLFKtQKKҥWҫQJ YLӉQ WK{QJ EҩW ÿӝQJ VҧQ Yj GX OӏFK NK{QJ FKӍ WҥR UDJLiWUӏJLDWăQJOӟQPjFzQJySSKҫQWҥRWiFÿӝQJ ODQWRҧWK~Fÿҭ\SKiWWULӇQNLQKWӃYQJQyLULrQJ YjWRjQTXӕFQyLFKXQJ DHU 6LURKL 9u Yұ\NKyFyWKӇÿѭDUDPӝWFkXWUҧOӡLQKҩWTXiQYӅ WiFÿӝQJFӫD)'''',QyLFKXQJÿӃQEҩWEuQKÿҷQJWKX QKұSYҩQÿӅPjOêWKX\ӃWFNJQJQKѭPӝWYjLQJKLrQ FӭXWKӵFQJKLӋPÿDQJPҳFSKҧL7KӵFWӃÿyÿzLKӓL FҫQSKҧLFyFiFQJKLrQFӭXPӟLÿLVkXYjRWӯQJORҥL )'''',FөWKӇ ѫVӣOêWKX\ӃWYjSKѭѫQJSKiSQJKLrQFӭX ˯VͧOêWKX\͇W êWKX\ӃWYӅWiFÿӝQJFӫD)'''',FKRWKҩ\)'''',Fy WKӇOjPWăQJKRһFJLҧPEҩWEuQKÿҷQJWKXQKұS7KX QKұSEDRJӗPWLӅQOѭѫQJYjWKXQKұSQJRjLOѭѫQJ )'''',FyWKӇWiFÿӝQJÿӃQFҧKDLWKjQKSKҫQQj\ө WKӇ ''''RDQKQJKLӋSQѭӟFQJRjLFyXKѭӟQJÿҫXWѭYjR FiFOƭQKYӵFF{QJQJKӋFDRKRһFFKX\rQP{QKyD PӝWSKkQÿRҥQQjRÿyWKXӝFOƭQKYӵFF{QJQJKӋFDR 1ӃX)'''',Jk\UDVӵPӣUӝQJWѭѫQJÿӕLFӫDFiFOƭQK YӵFF{QJQJKӋFDRVӁFҧLWKLӋQYӏWUtWѭѫQJÿӕLFӫD F{QJQKkQOjQKQJKӅYjOjPWăQJEҩWEuQKÿҷQJWLӅQ OѭѫQJ )HHQVWUD +DQVRQ 7KrPQӳDOӧLtFK TXDQWUӑQJPj)'''',PDQJOҥLOjF{QJQJKӋNӻWKXұW KLӋQÿҥLNӻҧRFKX\rQP{QWUuQKÿӝTXҧQOêWLrQ WLӃQGRÿy)'''',FyWKӇWҥRUDWăQJWUѭӣQJQăQJVXҩW ODRÿӝQJFDRKѫQӣFҧGRDQKQJKLӋSQѭӟFQJRjLYj GRDQKQJKLӋSWURQJQѭӟFWK~Fÿҭ\VӵWKD\ÿәLF{QJ QJKӋWKLrQYӅNӻQăQJVӵSKiWWULӇQFӫDFiFQJKӅ PӟLÿzLKӓLKjPOѭӧQJF{QJQJKӋFDR«WӯÿyOjP WăQJQKXFҫXYӅODRÿӝQJFyWD\QJKӅFDR9uVӣKӳX FiFNӻQăQJTXDQWUӑQJPjQJXӗQFXQJNKDQKLӃP F{QJQKkQFyWD\QJKӅFDRWKѭӡQJFyYӏWKӃWKѭѫQJ OѭӧQJPҥQKKѫQF{QJQKkQtWFyWD\QJKӅÿӗQJWKӡL KӑFyWKӇFyNӻQăQJÿjPSKiQWӕWKѫQÿӇWKѭѫQJ OѭӧQJPӭFOѭѫQJFDRKѫQWӯÿyOjPWăQJEҩWEuQK ÿҷQJWLӅQOѭѫQJrQFҥQKÿyWK{QJTXDFiFNKyD ÿjRWҥRFiFOӟSWұSKXҩQ)'''',FyWKӇҧQKKѭӣQJÿӃQ YLӋFFXQJFҩSFiFNӻQăQJWӯÿyÿyQJJySYjRJLiR GөFQyLFKXQJ7KӵFWӃFKRWKҩ\FiFF{QJW\QѭӟF QJRjLWKѭӡQJWәFKӭFWұSKXҩQQKLӅXKѫQVRYӟLFiF ÿӕLWiFWURQJQѭӟFGRÿyFiFF{QJQKkQOjQKQJKӅ ÿm ÿѭӧF KѭӣQJ OӧL tFK QKLӅX KѫQ Wӯ FiF NKyD ÿjR WҥRQj\iFÿLӇPWUrQFKRWKҩ\)'''',GӵNLӃQ FyWKӇ OjPWăQJEҩWEuQKÿҷQJYӅWLӅQOѭѫQJWUiLQJѭӧFYӟL GӵÿRiQFӫDOêWKX\ӃWWKѭѫQJPҥLWUX\ӅQWKӕQJUҵQJ )'''',OjPJLҧPEҩWEuQKÿҷQJWLӅQOѭѫQJӣFiFQѭӟF ÿDQJSKiWWULӇQYu)'''',FKRSKpSFiFQѭӟFÿDQJSKiW WULӇQWұSWUXQJYjRFiFKRҥWÿӝQJtWÿzLKӓLWD\QJKӅ )'''', FNJQJ Fy WKӇ WiF ÿӝQJ OrQ WKX QKұS QJRjL OѭѫQJWK{QJTXDYLӋFWăQJOӧLQKXұQYjWӍOӋWKXKӗL YӕQWӯÿyOjPWăQJFiFORҥLWKXQKұSNKiFÿһFELӋW ӣQKӳQJQJѭӡLODRÿӝQJWӵOjPFKӫ7LӅQOѭѫQJWKӵF ÿmJLҧPWURQJKѫQKDLWKұSNӹTXDӣQKLӅXQѭӟF0ӻ DWLQK :HHNV QJө ê UҵQJ QKӳQJ QJѭӡL Vӣ KӳXYӕQÿmÿѭӧFKѭӣQJOӧLQKLӅXKѫQWӯFiFFXӝF FҧLFiFKNLQKWӃĈLӅXQj\FyWKӇOjPEҩWEuQKÿҷQJ WKXQKұSJLDWăQJ ;pWӣFҩSÿӝYQJWiFÿӝQJFӫD)'''',PDQJWtQK KDLPһW1ӃXWtQKULrQJWURQJYQJQKұQÿѭӧF)'''', )'''',JL~SWҥRYLӋFOjPWăQJWKXQKұSFKRQJѭӡLGkQ ÿӏD SKѭѫQJ 1KѭQJ QӃX pW JLӳD FiF YQJ ÿѭӧF QKұQ Yj NK{QJ ÿѭӧF QKұQ )'''', Vӵ WKө KѭӣQJ Oj NKiF ELӋW ''''kQ Fѭ FӫD YQJ Qj\ Fy WKX QKұS WăQJ OrQWURQJNKLGkQFѭӣYQJNKiFWKuNK{QJ KRһFUҩW tW YuYұ\OjPWăQJPӭFÿӝEҩWEuQKÿҷQJWKXQKұS JLӳDGkQFѭFӫDFiFYQJKѭDNӇÿӃQpWWURQJ 6͙ ,, WKiQJ 4 FQJ PӝW YQJ PӭF ÿӝ WKө KѭӣQJ ÿӕL YӟL QKӳQJ OӧL tFK FӫD )'''', PDQJ OҥL ӣ FiF ÿӕL WѭӧQJ Oj NKiF QKDX Yt Gө ODR ÿӝQJ Fy Nƭ QăQJ ÿѭӧF KѭӣQJ OӧL KѫQVRYӟLODRÿӝQJNK{QJFyNƭQăQJKRһFODRÿӝQJ ÿѭӧF )'''', WX\ӇQ GөQJ ÿѭӧF KѭӣQJ OӧL KѫQ VR YӟL ODRÿӝQJNK{QJÿѭӧF)'''',WX\ӇQGөQJGQăQJOӵF Oj QKѭ QKDX '''' EҩW EuQK ÿҷQJ WURQJ QӝL Eӝ YQJ QKLӅXNKҧQăQJÿѭӧFFҧLWKLӋQQKѭQJEҩWEuQKÿҷQJ JLӳDFiFYQJWăQJOrQÿDSKҫQVӁGүQÿӃQPӭFÿӝ EҩWEuQKÿҷQJWtQKFKXQJFKRFҧQѭӟFFNJQJWăQJOrQ ;pW ӣ FҩS ÿӝ TXӕF JLD WiF ÿӝQJ FӫD )'''', ÿӃQ EҩW EuQK ÿҷQJ WKX QKұS FNJQJ PDQJ WtQK KDL PһW 0ӝW PһW)'''',JL~SQѭӟFWLӃSQKұQWK~Fÿҭ\WăQJWUѭӣQJ QkQJFDRPӭFVӕQJVӟPEҳWNӏSYӟLFiFQѭӟFSKiW WULӇQQKѭQJÿӗQJWKӡLOҥLWҥRUDNKRҧQJFiFKQJj\ FjQJDYӟLFiFQѭӟFNKiFFyXҩWSKiWÿLӇPWѭѫQJ ÿӗQJQKѭQJNK{QJÿѭӧFQKұQ)'''',KRһFQKұQÿѭӧF UҩWtW)'''',YjYuYұ\FyQJX\FѫOjPJLDWăQJPӭF ÿӝEҩWEuQKÿҷQJYӅWKXQKұSJLӳDFiFTXӕFJLDWUrQ WKӃJLӟL 9ӅPһWWKӵFQJKLӋPFiFQJKLrQFӭXNKiSKRQJ SK~YjÿDGҥQJ.ӃWTXҧWKXÿѭӧFOjKӛQKӧSQKLӅX NKҧQăQJGRVӵNKiFELӋWYӅPӭFSKiWWULӇQNLQKWӃ NKҧQăQJKҩSWKө)'''',FӫDQѭӟFVӣWҥLWUuQKÿӝJLiR GөFFiFKSKkQORҥL)'''',WKӡLJLDQHPpW« 1JKLrQFͱXFKRWͳQJQKyPQ˱ͣF KDQGDUL ÿm QJKLrQ FӭX FiF QӅQ NLQK WӃ FKX\ӇQ ÿәL WKXӝF Ĉ{QJ ÆX Yj 7UXQJ È JLDL ÿRҥQ YjNK{QJWuPWKҩ\EҵQJFKӭQJ)'''',WtFK ONJ\YjRJk\ҧQKKѭӣQJÿӃQEҩWEuQKÿҷQJWKXQKұS QyLFKXQJ7ѭѫQJWӵ)UDQFR HUXVVL FNJQJ NK{QJ WuP WKҩ\ WiF ÿӝQJ ÿiQJ NӇ FӫD )'''', OrQ EҩW EuQKÿҷQJWKXQKұSYӟLGӳOLӋXFӫDQӅQNLQKWӃ FKX\ӇQÿәLӣKkXÆXJLDLÿRҥQ7URQJ NKL ÿy +HUHU 1XQQHQNDPS QJKLrQ FӭX QѭӟF KkX ÆX JLDL ÿRҥQ Yj QKұQ WKҩ\ L )'''',FyWiFÿӝQJFQJFKLӅXWURQJQJҳQKҥQ QJѭӧF FKLӅX WURQJ GjL KҥQ ÿӃQ EҩW EuQK ÿҷQJ WKX QKұS LL PӕL TXDQ KӋ JLӳD )'''', Yj EҩW EuQK ÿҷQJ WKXQKұSPDQJWtQKKDLFKLӅXYj LLL WURQJGjLKҥQ KLӋXӭQJFӫD)'''',ÿӃQEҩWEuQKÿҷQJWKXQKұSÿӕLYӟL FiFTXӕFJLDNKiFQKDXOjNKiFQKDX.ӃWTXҧWѭѫQJ WӵFNJQJÿѭӧFQKyPWiFJLҧWuPWKҩ\YjRQăP NKLHPpWWiFÿӝQJULrQJOҿFӫDGzQJ)'''',YjRYj )'''',UDOrQEҩWEuQKÿҷQJWKXQKұSӣKkXÆXӪQJ KӝNӃWTXҧQj\YӟLGӳOLӋXFӫDTXӕFJLD7UXQJYj Ĉ{QJ ÆX JLDL ÿRҥQ 0LKD\ORYD FKRUҵQJ)'''',FyNKҧQăQJҧQKKѭӣQJÿӃQEҩWEuQK ÿҷQJWKXQKұSQKѭQJWiFÿӝQJQj\SKөWKXӝFYjR WUuQKÿӝJLiRGөFYjPӭFÿӝSKiWWULӇQNLQKWӃFӫD QѭӟFFKӫQKj9ӟLQJXӗQQKkQOӵFYjPӭFÿӝSKiW WULӇQ NLQK WӃ WKҩS KѫQ )'''', Fy X KѭӟQJ WăQJ EҩW EuQKÿҷQJWKXQKұSQKѭQJQӃXVӵODQWӓDFӫDJLiR GөFYj''''3EuQKTXkQÿҫXQJѭӡLWăQJOrQKLӋXӭQJ ÿӃQSKkQSKӕLFӫD)'''',VӁJLҧP6DXNKLPӭFÿӝFDR KѫQFӫDQJXӗQQKkQOӵFYjSKiWWULӇQNLQKWӃÿmÿҥW ÿѭӧF)'''',WKұPFKtFyWKӇJySSKҫQOjPJLҧPEҩW EuQKÿҷQJWKXQKұS ,P 0FDUHQ FKR WKҩ\ )'''', JL~S OjP JLҧPFҧEҩWEuQKÿҷQJYjWӹOӋÿyLQJKqRӣFiFQѭӟF ÿDQJSKiWWULӇQ1KyPGkQVӕFyPӭFWKXQKұSWKҩS WKӭKDLYjWKӭED WURQJEiFKSKkQYӏ ÿѭӧFKѭӣQJ OӧLQKLӅXQKҩWWURQJNKLQKyPWKXQKұSFDRQKҩWEӏ WKLӋWKҥLQKLӅXQKҩW1JѭӧFOҥL6XDQHV WuP WKҩ\WiFÿӝQJWKXұQFKLӅXFӫD)'''',OrQEҩWEuQKÿҷQJ WKX QKұS WURQJ OƭQK YӵF GӏFK Yө Yj VҧQ XҩW ӣ QѭӟFKkX0ӻDWLQKJLDLÿRҥQ 6ӱGөQJGӳOLӋXFӫDFiFQѭӟFNpPSKiWWULӇQJLDL ÿRҥQ 7VDL FKR UҵQJ )'''', NK{QJ OjPWăQJPӭFÿӝEҩWEuQKÿҷQJWKXQKұSӣFiFQѭӟF NpPSKiWWULӇQWUӯNKXYӵFĈ{QJĈ{QJ1DPÈ7ҥL ÿy FiF QѭӟF NpP SKiW WULӇQ GѭӡQJ QKѭ ÿm Eӏ WәQ WKѭѫQJEӣLFiFGzQJYӕQ)'''', 1JKLrQFͱXFKRQKyPQ˱ͣFK͟QKͫS 9ӟL Gӳ OLӋX FӫD TXӕF JLD WURQJ JLDL ÿRҥQ KRL QKұQ WKҩ\ EҩW EuQK ÿҷQJ WKX QKұS WăQJ OrQ FQJ YӟL Vӵ WăQJ OrQ FӫD OѭӧQJ )'''', WtFK ONJ\ iF QJKLrQ FӭX VDX ÿy ÿm FKR WKҩ\ ÿLӅXQj\NK{QJKRjQWRjQÿ~QJ:X +VX FKR UҵQJ )'''', Fy NKҧ QăQJ Jk\ KҥL FKR SKkQ SKӕL WKX QKұS ӣ QKӳQJ QѭӟF FKӫ QKj Fy NKҧ QăQJ KҩS WKө ӣ PӭF WKҩS QKѭQJ WҥL FiF QѭӟF Fy NKҧ QăQJ KҩSWKөWӕWKѫQ)'''',FKӍJk\ҧQKKѭӣQJQKӓ7ѭѫQJ WӵHVVPDQQ WuPWKҩ\NӃWTXҧ)'''',UzQJOjP WăQJEҩWEuQKÿҷQJYQJӣFiFQѭӟFWKXQKұSWKҩS YjWUXQJEuQKWURQJNKLNK{QJFyKұXTXҧWiLSKkQ SKӕLWLrXFӵFӣFiFQѭӟFFyWKXQKұSFDR=KXDQJ UL¿WK WKuFKRUҵQJKRҥWÿӝQJViSQKұSYj PXDOҥLFyWiFÿӝQJNK{QJÿiQJNӇÿӃQEҩWEuQKÿҷQJ WKXQKұSWURQJNKLÿҫXWѭPӟLFyWiFÿӝQJWtFKFӵF ÿӃQEҩWEuQKÿҷQJWKXQKұS1JRjLUDLQ FӝQJ Vӵ FKRWKҩ\YDLWUzFӫDQJXӗQQKkQOӵFWURQJ PӕLTXDQKӋQj\7ӗQWҥLPӝWQJѭӥQJFyêQJKƭDFӫD QJXӗQ QKkQ OӵF GѭӟL QJѭӥQJ Qj\ )'''', WҥR UD WiF ÿӝQJWtFKFӵFOrQQJѭӡLQJKqRYjWLrXFӵFOrQQJѭӡL JLjXWӯÿyFҧLWKLӋQSKkQSKӕLWKXQKұSEuQKÿҷQJ KѫQ9ѭӧWTXiQJѭӥQJQj\)'''',FyOӧLFKRQKӳQJ QJѭӡL NK{QJ QJKqR Yj Jk\ WәQ WKѭѫQJ FKR QKӳQJ QJѭӡLNK{QJJLjXYjGRÿyOjPWUҫPWUӑQJWKrPEҩW EuQKÿҷQJWKXQKұS 6͙ ,, WKiQJ 5 1JKLrQFͱXFKRWͳQJTX͙FJLD KLQWUDNDUQ FӝQJ Vӵ Vӱ GөQJ Gӳ OLӋX FӫDWLӇXEDQJFӫD+RD.ǤJLDLÿRҥQ YjWuPWKҩ\WURQJQJҳQKҥQWiFÿӝQJFӫD)'''',ÿӃQ EҩWEuQKÿҷQJWKXQKұSOjNK{QJÿiQJNӇYjQJѭӧF FKLӅXWURQJNKLYӅOkXGjLQKuQFKXQJ)'''',WҥRUD WiFÿӝQJQJѭӧFFKLӅXÿiQJNӇ''''Yұ\FyWLӇX EDQJFKRWKҩ\PӕLTXDQKӋFQJFKLӅXJLӳD)'''',Yj EҩWEuQKÿҷQJWKXQKұSWURQJGjLKҥQ.ӃWTXҧKӛQ KӧSQj\FNJQJÿѭӧFWuPWKҩ\WUrQQKӳQJQKyPTXӕF JLDNKiFQKDX+HUHU FӝQJVӵ ÿmÿLӅXWUD ҧQK KѭӣQJ GjL KҥQ FӫD )'''', OrQ EҩW EuQK ÿҷQJ WKX QKұSӣQѭӟF0ӻDWLQWKHRÿyWҥLQѭӟF)'''', OjPJLDWăQJNKRҧQJFiFKWKXQKұSJLӳDFiFFiQKkQ )DUKDQ FӝQJVӵ QKұQWKҩ\GzQJ)'''',YjR Fy WiF ÿӝQJ OjP JLҧP EҩW EuQK ÿҷQJ ӣ 0DOD\VLD 3KLOLSSLQHVYj7KiLDQQKѭQJOҥLGX\WUuEҩWEuQK ÿҷQJӣ6LQJDSRUHYj,QGRQHVLD 1JKLrQFӭXFӫD-HQVH 5RVDV FKRWKҩ\ YLӋFJLDWăQJGzQJYӕQ)'''',YjRFyOLrQTXDQWӟLVӵ JLҧPEҩWEuQKÿҷQJWKXQKұSӣQӝLEӝEDQJFӫD 0HLFRJLDLÿRҥQ7X\QKLrQYLӋFJLҧP EӟW EҩW EuQK ÿҷQJ WURQJ QӝL Eӝ YQJ ÿѭӧF WҥR EӣL )'''',WKӵFVӵFyWKӇOjPWăQJPӭFÿӝEҩWEuQKÿҷQJӣ FҩSTXӕFJLDNKLPjFiFYQJWKXK~W)'''',NK{QJFKӍ WUӣQrQEuQKÿҷQJKѫQPjFNJQJWKӏQKYѭӧQJKѫQ ӪQJKӝNӃWTXҧQj\5LYHUD DVWUR FNJQJ FKRUҵQJ)'''',FyXKѭӟQJOjPJLDWăQJNKRҧQJFiFK EҩW EuQK ÿҷQJ JLӳD FiF YQJ FӫD 0HLFR Yu Qy Fy XKѭӟQJFKҧ\YjRNKXYӵFSKiWWULӇQKѫQQKѭQJ NK{QJ Fy EҵQJ FKӭQJ FKR WKҩ\ Qy WҥR UD EҩW EuQK ÿҷQJWURQJQӝLEӝYQJ7URQJNKLÿy8FDO FӝQJ Vӵ OҥL WuP WKҩ\ WiF ÿӝQJ WKXұQ FKLӅX Fy ê QJKƭDWURQJQJҳQKҥQQKѭQJNK{QJFyêQJKƭDWURQJ GjLKҥQFӫD)'''',OrQEҩWEuQKÿҷQJWKXQKұSWҥL7Kә 1Kƭ.ǤJLDLÿRҥQ y WKӇ WKҩ\ G Vӕ OѭӧQJ FiF QJKLrQ FӭX YӅ WiF ÿӝQJFӫD)'''',OrQEҩWEuQKÿҷQJWKXQKұSWѭѫQJÿӕL SKRQJ SK~ Yj ÿD GҥQJ QKѭQJ FzQ NKi WKLӃX YҳQJ FiFQJKLrQFӭXOLrQTXDQÿӃQQKyPQѭӟFFKұPSKiW WULӇQQKyPQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩS KRһF NKX YӵF Ĉ{QJ 1DP È NJQJ ÿm Fy PӝW Vӕ QJKLrQFӭXӣWURQJQѭӟFFKR9LӋW1DPQKѭFӫD9LӋQ QJKLrQFӭXTXҧQOêNLQKWӃ7UXQJѭѫQJ ,(0 QăP FKRUҵQJ)'''',FyWKӇOjPWăQJEҩWEuQKÿҷQJYӅ WKXQKұSNK{QJFKӍӣWKjQKWKӏPjFҧJLӳDWKjQKWKӏ YjQ{QJWK{QKRһF1JX\ӉQ7Kӏ7KDQK+X\ӅQ YӟLNӃWOXұQWӍOӋ)'''',''''3FjQJWăQJFjQJNpRJLmQ FKrQKOӋFKWKXQKұSJLӳDQ{QJWK{QYjWKjQKWKӏ« ''''Yұ\FiFQJKLrQFӭXYӅOƭQKYӵFQj\ӣWURQJQѭӟF FzQNKiKLӃPKRLKѭDNӇÿӃQFiFQJKLrQFӭXGOj WURQJQѭӟFKD\QJRjLQѭӟFWKuÿDSKҫQÿӅXWLӃSFұQ )'''', GѭӟL GҥQJ WәQJ WKӇ Pj FKѭD ÿL YjR WӯQJ ORҥL FөWKӇ7UѭӟFWKӵFWӃÿyEjLYLӃWQj\VӱGөQJFiFK SKkQORҥLQJjQKFӫD7UXQJWkP7KѭѫQJPҥL4XӕF WӃ ,QWHUQDWLRQDO7UDGHHQWHU,7 ÿӇHPpWWiF ÿӝQJFӫDWӯQJORҥL)'''',ÿӃQEҩWEuQKÿҷQJWKXQKұS ӣQKyPFiFQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩS 3K˱˯QJSKiSQJKLrQFͱX 1JKLrQ FӭX Vӱ GөQJ Gӳ OLӋX PҧQJ NK{QJ FkQ ӭQJFӫDQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩS JӗPQѭӟFFKkXÆXQѭӟFFKkXÈQѭӟFFKkX 0ӻYjQѭӟFFKkX3KLWURQJÿyFy9LӋW1DP JLDL ÿRҥQĈӇHPpWWiFÿӝQJQJҳQKҥQFӫD )'''',ÿӃQEuQKÿҷQJWKXQKұSQJKLrQFӭXVӱGөQJP{ KuQKNLQKWӃOѭӧQJFѫEҧQVDX ,1, LW= E 0 + E1 )'''', LW+ EXLW+ JX LW )'''', LW 8 LW 7URQJÿy,1, LW OjKӋVӕLQLFӫDTXӕFJLDLӣQăP WÿѫQYӏ)'''', LW EDRJӗP)'''', LW )'''', LW )'''', LW OҫQ OѭӧW Oj YӕQ )'''', NKDL WKiF WjL QJX\rQ )'''', VҧQ XҩW Yj )'''', WKѭѫQJ PҥL GӏFK Yө EuQK TXkQ ÿ̯X QJ˱ͥL FӫDTXӕFJLDLӣQăPW ÿѫQYӏ86'''' XLW Oj PӝWQKyPFiFQKkQWӕNLӇPVRiWÿѭӧFFKROjFyҧQK KѭӣQJÿӃQEҩWEuQKÿҷQJWKXQKұSJӗPORJDULWKPWӵ QKLrQFӫD''''3ÿҫXQJѭӡL OQB''''3 LW WtQKEҵQJ86'''' WKHRPӭFJLi ÿӝPӣFӫDQӅQNLQKWӃ OPEN LW ÿREҵQJWәQJXҩWQKұSNKҭX''''3 FKӍVӕJLiWLrX GQJ 3, LW WKHRPӭFJLi WUuQKÿӝJLiRGөF (''''8 LW ÿREҵQJGkQVӕKӑFKӃWFҩS FKLWLrX FKtQKSKӫ LW ÿREҵQJ''''3 YjNLӇPVRiWWKDP QKNJQJ CORLW 1JKLrQ FӭX VӁ Vӱ GөQJ PӝW YjL Wә KӧSQKkQWӕNLӇPVRiWNKiFQKDXQKҵPNLӇPWUDÿӝ YӳQJFӫDFiFѭӟFOѭӧQJLӃQWѭѫQJWiFX LW )'''', LW ÿѭӧFÿѭDYjRP{KuQKQKҵPNLӇPWUDWiFÿӝQJJLiQ WLӃSFӫDFiFORҥL)'''',ÿӃQEҩWEuQKÿҷQJ9ӅSKѭѫQJ SKiSѭӟFOѭӧQJQJKLrQFӭXFkQQKҳFJLӳDYLӋFVӱ GөQJP{KuQK26JӝSP{KuQKWiFÿӝQJFӕÿӏQK KD\P{KuQKWiFÿӝQJQJүXQKLrQFăQFӭYjRNӃWTXҧ FӫDNLӇPÿӏQK+DXVPDQYjNLӇPÿӏQK0iFP{ KuQKÿӅXÿѭӧFNLӇPWUDFiFNKX\ӃWWұWWӵWѭѫQJTXDQ YjSKѭѫQJVDLVDLVӕWKD\ÿәL9ӅQJXӗQGӳOLӋXFiF ORҥL)'''',ÿѭӧFOҩ\QJXӗQWҥL,7''''3ÿҫXQJѭӡL ÿӝPӣFӫDQӅQNLQKWӃFKӍVӕJLiWLrXGQJGkQ Vӕ KӑF KӃW FҩS FKL WLrX F{QJ GkQ Vӕ NLӇP VRiW WKDP QKNJQJ ÿѭӧF Oҩ\ QJXӗQ WҥL:RUOGDQN .KiF YӟLÿDVӕQJKLrQFӭXWUѭӟFÿk\EjLQJKLrQFӭXQj\ VӱGөQJKӋVӕLQLÿѭӧFOҩ\QJXӗQWҥL6WDQGDUGLHG :RUOG ,QFRPH ,QHTXDOLW\ ''''DWDEDVH 6:,,'''' SKiW WULӇQ EӣL 6ROW 1KѭӧF ÿLӇP FӫD Gӳ OLӋX EҩW EuQKÿҷQJWUѭӟFÿk\OjNK{QJÿҧPEҧRWtQKVRViQK 6͙ ,, WKiQJ 6 " " " " " ''''() + " ,'''')''''-. ( (,01 1)) 23)- 6͙ ,, WKiQJ 7 ÿѭӧF ÿӗQJ WKӡL Gӳ OLӋX Eӏ QJҳW TXmQJ NKi QKLӅX 6:,,''''OjVӵNӃWKӧSJLӳD:RUOG,QFRPH,QHTXDOLW\ ''''DWDEDVHFӫD:RUOGDQNYӟLFiFWK{QJWLQWӯFѫVӣ Gӳ OLӋX XHPERXUJ ,QFRPH 6WXG\ Yj Gӳ OLӋX EҩW EuQKÿҷQJFӫD7KH8QLWHG1DWLRQV8QLYHUVLW\:RUOG ,QVWLWXWH IRU ''''HYHORSPHQW (FRQRPLFV 5HVHDUFK 818:,''''(5 Ĉk\ÿѭӧFHPOjPӝWWURQJQKӳQJ FѫVӣGӳOLӋXWRjQGLӋQQKҩWÿҧPEҧRWtQKVRViQK ÿѭӧFYӟLWK{QJWLQOLӅQPҥFKOLrQWөFYjÿmÿѭӧFVӱ GөQJWURQJPӝWVӕQJKLrQFӭXJҫQÿk\QKѭ+HUHU 1XQQHQNDPS 2VWU\ FӝQJVӵ .ӃWTXҧ YjWKҧROXұQ 3KҫQOӟQFiFP{KuQKKӗLTX\ÿѭӧFFKҥ\ÿӅXFKR NӃW TXҧ P{ KuQK WiF ÿӝQJ QJүX QKLrQ Oj SK KӧS iFP{KuQKQj\FNJQJÿmÿѭӧFNLӇPWUDNKX\ӃWWұW YjNKҳFSKөF QӃXFҫQ ÿӇÿҧPEҧRÿӝWLQFұ\9LӋF VӱGөQJFiFQKyPQKkQWӕNLӇPVRiWNKiFQKDXÿm FKRWKҩ\WtQKYӳQJFӫDFiFѭӟFOѭӧQJNӃWTXҧWKX ÿѭӧFWӯFiFP{KuQKKӗLTX\NKiFQKDXNKiÿӗQJ QKҩW7KHRÿyѭӟFOѭӧQJKӋVӕÿӕLYӟL)'''',PDQJ GҩX kP Yj Fy ê QJKƭD WKӕQJ Nr ӣ PӭF ;HP ҧQJ .ӃWTXҧFKRWKҩ\)'''',NKDLWKiFWjLQJX\rQ FyWiFGөQJOjPJLҧPPӭFÿӝEҩWEuQKÿҷQJQKLӅX NKҧQăQJGRQKXFҫXYӅODRÿӝQJNK{QJFyNƭQăQJ KRһFtWNƭQăQJÿk\ÿӗQJWKӡLFNJQJOjQKӳQJQJѭӡL KѭӣQJOӧLQKLӅXQKҩWWӯORҥL)'''',Qj\WӯÿyWKXKҽS NKRҧQJFiFKWLӅQOѭѫQJJLӳDQKӳQJODRÿӝQJFyYj NK{QJFyNƭQăQJGүQÿӃQPӭFÿӝEҩWEuQKÿҷQJWKX QKұS JLҧPrQ FҥQKÿy ѭӟF OѭӧQJKӋ Vӕ ÿӕLYӟL FiFELӃQWѭѫQJWiF)'''',YӟLNLӇPVRiWWKDPQKNJQJ )'''', YӟL ÿӝ Pӣ FӱD NLQK WӃ ÿӅX kP Yj Fy ê QJKƭD WKӕQJNrWKұPFKtӣPӭFFKRELӃWUҵQJYӟLPӭF ÿӝPӣFӱDQӅQNLQKWӃFjQJFDRNKҧQăQJNLӇPVRiW WKDPQKNJQJFjQJWӕWVӁFjQJOjPWăQJWiFÿӝQJWtFK FӵFQj\FӫD)'''',NKDLWKiFWjLQJX\rQ ĈӕL YӟL )'''', VҧQ XҩW FKѭD Fy EҵQJ FKӭQJ FKR ...
Trang 1%ҩWEuQKÿҷQJWKXQKұSOjPӕLTXDQWkPFӫDQKLӅXQJѭӡLQKLӅXTXӕFJLDӣFiFPӭFÿӝNKiFQKDX.KL[mKӝLQJj\FjQJSKiWWULӇQQJѭӡLWDFjQJTXDQWkPÿӃQYҩQÿӅF{QJEҵQJQKLӅXKѫQ7ăQJWUѭӣQJNLQKWӃQJRҥQPөFQKѭQJYүQÿzLKӓLSKҧLÿLÿ{LYӟLF{QJEҵQJ[mKӝLÿyOj\rXFҫXFӫDPӝW[mKӝLSKiWWULӇQWRjQ GLӋQ Yj Oj PөF WLrX Pj QKLӅX TXӕF JLD ÿDQJKѭӟQJÿӃQ&iFWjLOLӋXFKRWKҩ\EҩWEuQKÿҷQJWKXQKұSYjEҩWEuQKÿҷQJWLӅQOѭѫQJÿmWăQJOrQӣQKLӅX
.H\ZRUG,QFRPHLQHTXDOLW\)',UDQGRPHIIHFWVPRGHOV
Trang 2ÿӏQK QJX\rQ QKkQ FiF QKkQ Wӕ WiF ÿӝQJ Yj NrQKWUX\ӅQGүQOjKӃWVӭFFҫQWKLӃW1KuQFKXQJEҩWEuQKÿҷQJOjPӝWYҩQÿӅWѭѫQJÿӕLSKӭFWҥSYjFKӏXWiFÿӝQJ Wӯ QKLӅX QKkQ Wӕ NKiF QKDX 0ӝW Vӕ QKkQ WӕÿѭӧFFiFQKjNLQKWӃKӑFÿӅFұSÿӃQJӗPFy0ӭFSKiWWULӇQNLQKWӃ X]QHWV%DUURĈӝPӣFӫDQӅQNLQKWӃ%DUUR0DUUHZLMN/ҥPSKiW(DVWHUO\ )LVKHU&RUQLD7UuQK ÿӝ JLiR GөF %DUUR /HPLHX[ 7KӇ FKӃ 5RGULN *UDGVWHLQ 0LODQRYLF&KLWLrXFKtQKSKӫ&DOGHURQ 6HUYHQ
&KDWWHUMHH 7XUQRYVN\ Yj 7KDP QKNJQJ
*XSWD FӝQJVӵ%rQFҥQKÿyVӵJLDWăQJOXӗQJYӕQ)',ÿLFQJYӟLJLDWăQJEҩWEuQKÿҷQJWKXQKұSӣKҫXKӃWFiFQѭӟFWURQJEDWKұSNӹTXDÿmNKLӃQFiFQKjNKRDKӑFSKҧLÿһWFkXKӓLYӅPӕLOLrQKӋFyWKӇFyJLӳDKDL\ӃXWӕQj\ĈmFyQKLӅXOê WKX\ӃW OLrQ NӃW KDL \ӃX Wӕ Qj\ YӟL QKDX QKӳQJQJKLrQ FӭX WKӵF QJKLӋP G SKRQJ SK~ QKѭQJ NӃWTXҧWKXÿѭӧFFzQFKѭDÿӗQJQKҩW1KuQFKXQJPӕLTXDQKӋQj\SKөWKXӝFYjRPӭFSKiWWULӇQNLQKWӃNKҧQăQJKҩSWKөWUuQKÿӝJLiRGөFEҧQWKkQWӯQJORҥL)',«
&y QKLӅX FiFK SKkQ ORҥL )', 0ӛL ORҥL )', FyQKӳQJÿһFÿLӇPYjWiFÿӝQJODQWӓDQKҩWÿӏQKNKiFQKDXÿӃQNLQKWӃ[mKӝLFӫDQѭӟFWLӃSQKұQ&KҷQJKҥQ)',WURQJFiFQJjQKQJX\rQOLӋXVѫFҩSGӵDQKLӅX YjR YӕQ Yj ODR ÿӝQJ QKѭ Q{QJ QJKLӋS KRһFNKDL NKRiQJ WKѭӡQJ Fy WiF ÿӝQJ ODQ WRҧ NӃW QӕLYӟLFiFNKXYӵFNKiFUҩWKҥQFKӃ7URQJNKLÿyYӕQ)',WURQJFiFQJjQKVҧQ[XҩWEұFFDRQKѭOҳSUiSYjFKӃWҥRKD\FiFQJjQKGӏFKYөQKѭWjLFKtQKKҥWҫQJYLӉQWK{QJEҩWÿӝQJVҧQYjGXOӏFKNK{QJFKӍWҥRUDJLiWUӏJLDWăQJOӟQPjFzQJySSKҫQWҥRWiFÿӝQJODQWRҧWK~Fÿҭ\SKiWWULӇQNLQKWӃYQJQyLULrQJYjWRjQTXӕFQyLFKXQJ%DHU 6LURKL9uYұ\NKyFyWKӇÿѭDUDPӝWFkXWUҧOӡLQKҩWTXiQYӅWiFÿӝQJFӫD)',QyLFKXQJÿӃQEҩWEuQKÿҷQJWKXQKұSYҩQÿӅPjOêWKX\ӃWFNJQJQKѭPӝWYjLQJKLrQFӭXWKӵFQJKLӋPÿDQJPҳFSKҧL7KӵFWӃÿyÿzLKӓLFҫQSKҧLFyFiFQJKLrQFӭXPӟLÿLVkXYjRWӯQJORҥL)',FөWKӇ
FiFOƭQKYӵFF{QJQJKӋFDRKRһFFKX\rQP{QKyDPӝWSKkQÿRҥQQjRÿyWKXӝFOƭQKYӵFF{QJQJKӋFDR1ӃX)',Jk\UDVӵPӣUӝQJWѭѫQJÿӕLFӫDFiFOƭQKYӵFF{QJQJKӋFDRVӁFҧLWKLӋQYӏWUtWѭѫQJÿӕLFӫDF{QJQKkQOjQKQJKӅYjOjPWăQJEҩWEuQKÿҷQJWLӅQOѭѫQJ)HHQVWUD +DQVRQ7KrPQӳDOӧLtFKTXDQWUӑQJPj)',PDQJOҥLOjF{QJQJKӋNӻWKXұWKLӋQÿҥLNӻ[ҧRFKX\rQP{QWUuQKÿӝTXҧQOêWLrQWLӃQGRÿy)',FyWKӇWҥRUDWăQJWUѭӣQJQăQJVXҩWODRÿӝQJFDRKѫQӣFҧGRDQKQJKLӋSQѭӟFQJRjLYjGRDQKQJKLӋSWURQJQѭӟFWK~Fÿҭ\VӵWKD\ÿәLF{QJQJKӋWKLrQYӅNӻQăQJVӵSKiWWULӇQFӫDFiFQJKӅPӟLÿzLKӓLKjPOѭӧQJF{QJQJKӋFDR«WӯÿyOjPWăQJQKXFҫXYӅODRÿӝQJFyWD\QJKӅFDR9uVӣKӳXFiFNӻQăQJTXDQWUӑQJPjQJXӗQFXQJNKDQKLӃPF{QJQKkQFyWD\QJKӅFDRWKѭӡQJFyYӏWKӃWKѭѫQJOѭӧQJPҥQKKѫQF{QJQKkQtWFyWD\QJKӅÿӗQJWKӡLKӑFyWKӇFyNӻQăQJÿjPSKiQWӕWKѫQÿӇWKѭѫQJOѭӧQJPӭFOѭѫQJFDRKѫQWӯÿyOjPWăQJEҩWEuQKÿҷQJWLӅQOѭѫQJ%rQFҥQKÿyWK{QJTXDFiFNKyDÿjRWҥRFiFOӟSWұSKXҩQ)',FyWKӇҧQKKѭӣQJÿӃQYLӋFFXQJFҩSFiFNӻQăQJWӯÿyÿyQJJySYjRJLiRGөFQyLFKXQJ7KӵFWӃFKRWKҩ\FiFF{QJW\QѭӟFQJRjLWKѭӡQJWәFKӭFWұSKXҩQQKLӅXKѫQVRYӟLFiFÿӕLWiFWURQJQѭӟFGRÿyFiFF{QJQKkQOjQKQJKӅÿm ÿѭӧF KѭӣQJ OӧL tFK QKLӅX KѫQ Wӯ FiF NKyD ÿjRWҥRQj\&iFÿLӇPWUrQFKRWKҩ\)',GӵNLӃQFyWKӇOjPWăQJEҩWEuQKÿҷQJYӅWLӅQOѭѫQJWUiLQJѭӧFYӟLGӵÿRiQFӫDOêWKX\ӃWWKѭѫQJPҥLWUX\ӅQWKӕQJUҵQJ)',OjPJLҧPEҩWEuQKÿҷQJWLӅQOѭѫQJӣFiFQѭӟFÿDQJSKiWWULӇQYu)',FKRSKpSFiFQѭӟFÿDQJSKiWWULӇQWұSWUXQJYjRFiFKRҥWÿӝQJtWÿzLKӓLWD\QJKӅ
)', FNJQJ Fy WKӇ WiF ÿӝQJ OrQ WKX QKұS QJRjLOѭѫQJWK{QJTXDYLӋFWăQJOӧLQKXұQYjWӍOӋWKXKӗLYӕQWӯÿyOjPWăQJFiFORҥLWKXQKұSNKiFÿһFELӋWӣQKӳQJQJѭӡLODRÿӝQJWӵOjPFKӫ7LӅQOѭѫQJWKӵFÿmJLҧPWURQJKѫQKDLWKұSNӹTXDӣQKLӅXQѭӟF0ӻ/DWLQK :HHNV QJө ê UҵQJ QKӳQJ QJѭӡL VӣKӳXYӕQÿmÿѭӧFKѭӣQJOӧLQKLӅXKѫQWӯFiFFXӝFFҧLFiFKNLQKWӃĈLӅXQj\FyWKӇOjPEҩWEuQKÿҷQJWKXQKұSJLDWăQJ
;pWӣFҩSÿӝYQJWiFÿӝQJFӫD)',PDQJWtQKKDLPһW1ӃXWtQKULrQJWURQJYQJQKұQÿѭӧF)',)',JL~SWҥRYLӋFOjPWăQJWKXQKұSFKRQJѭӡLGkQÿӏD SKѭѫQJ 1KѭQJ QӃX [pW JLӳD FiF YQJ ÿѭӧFQKұQ Yj NK{QJ ÿѭӧF QKұQ )', Vӵ WKө KѭӣQJ OjNKiF ELӋW 'kQ Fѭ FӫD YQJ Qj\ Fy WKX QKұS WăQJOrQWURQJNKLGkQFѭӣYQJNKiFWKuNK{QJKRһFUҩWtWYuYұ\OjPWăQJPӭFÿӝEҩWEuQKÿҷQJWKXQKұSJLӳDGkQFѭFӫDFiFYQJ&KѭDNӇÿӃQ[pWWURQJ
Trang 3FQJ PӝW YQJ PӭF ÿӝ WKө KѭӣQJ ÿӕL YӟL QKӳQJOӧL tFK FӫD )', PDQJ OҥL ӣ FiF ÿӕL WѭӧQJ Oj NKiFQKDX Yt Gө ODR ÿӝQJ Fy Nƭ QăQJ ÿѭӧF KѭӣQJ OӧLKѫQVRYӟLODRÿӝQJNK{QJFyNƭQăQJKRһFODRÿӝQJÿѭӧF )', WX\ӇQ GөQJ ÿѭӧF KѭӣQJ OӧL KѫQ VR YӟLODRÿӝQJNK{QJÿѭӧF)',WX\ӇQGөQJGQăQJOӵFOj QKѭ QKDX ' EҩW EuQK ÿҷQJ WURQJ QӝL Eӝ YQJQKLӅXNKҧQăQJÿѭӧFFҧLWKLӋQQKѭQJEҩWEuQKÿҷQJJLӳDFiFYQJWăQJOrQÿDSKҫQVӁGүQÿӃQPӭFÿӝEҩWEuQKÿҷQJWtQKFKXQJFKRFҧQѭӟFFNJQJWăQJOrQ;pW ӣ FҩS ÿӝ TXӕF JLD WiF ÿӝQJ FӫD )', ÿӃQ EҩWEuQK ÿҷQJ WKX QKұS FNJQJ PDQJ WtQK KDL PһW 0ӝWPһW)',JL~SQѭӟFWLӃSQKұQWK~Fÿҭ\WăQJWUѭӣQJQkQJFDRPӭFVӕQJVӟPEҳWNӏSYӟLFiFQѭӟFSKiWWULӇQQKѭQJÿӗQJWKӡLOҥLWҥRUDNKRҧQJFiFKQJj\FjQJ[DYӟLFiFQѭӟFNKiFFy[XҩWSKiWÿLӇPWѭѫQJÿӗQJQKѭQJNK{QJÿѭӧFQKұQ)',KRһFQKұQÿѭӧFUҩWtW)',YjYuYұ\FyQJX\FѫOjPJLDWăQJPӭFÿӝEҩWEuQKÿҷQJYӅWKXQKұSJLӳDFiFTXӕFJLDWUrQWKӃJLӟL
%KDQGDUL ÿm QJKLrQ FӭX FiF QӅQ NLQK WӃFKX\ӇQ ÿәL WKXӝF Ĉ{QJ ÆX Yj 7UXQJ È JLDL ÿRҥQYjNK{QJWuPWKҩ\EҵQJFKӭQJ)',WtFKONJ\YjRJk\ҧQKKѭӣQJÿӃQEҩWEuQKÿҷQJWKXQKұSQyLFKXQJ7ѭѫQJWӵ)UDQFR *HUXVVLFNJQJNK{QJ WuP WKҩ\ WiF ÿӝQJ ÿiQJ NӇ FӫD )', OrQ EҩWEuQKÿҷQJWKXQKұSYӟLGӳOLӋXFӫDQӅQNLQKWӃFKX\ӇQÿәLӣ&KkXÆXJLDLÿRҥQ7URQJNKLÿy+HU]HU 1XQQHQNDPSQJKLrQFӭX QѭӟF &KkX ÆX JLDL ÿRҥQ Yj QKұQWKҩ\L)',FyWiFÿӝQJFQJFKLӅXWURQJQJҳQKҥQQJѭӧF FKLӅX WURQJ GjL KҥQ ÿӃQ EҩW EuQK ÿҷQJ WKXQKұSLLPӕLTXDQKӋJLӳD)',YjEҩWEuQKÿҷQJWKXQKұSPDQJWtQKKDLFKLӅXYjLLLWURQJGjLKҥQKLӋXӭQJFӫD)',ÿӃQEҩWEuQKÿҷQJWKXQKұSÿӕLYӟLFiFTXӕFJLDNKiFQKDXOjNKiFQKDX.ӃWTXҧWѭѫQJWӵFNJQJÿѭӧFQKyPWiFJLҧWuPWKҩ\YjRQăPNKL[HP[pWWiFÿӝQJULrQJOҿFӫDGzQJ)',YjRYj)',UDOrQEҩWEuQKÿҷQJWKXQKұSӣ&KkXÆXӪQJKӝNӃWTXҧQj\YӟLGӳOLӋXFӫDTXӕFJLD7UXQJYjĈ{QJ ÆX JLDL ÿRҥQ 0LKD\ORYD FKRUҵQJ)',FyNKҧQăQJҧQKKѭӣQJÿӃQEҩWEuQKÿҷQJWKXQKұSQKѭQJWiFÿӝQJQj\SKөWKXӝFYjRWUuQKÿӝJLiRGөFYjPӭFÿӝSKiWWULӇQNLQKWӃFӫD
QѭӟFFKӫQKj9ӟLQJXӗQQKkQOӵFYjPӭFÿӝSKiWWULӇQ NLQK WӃ WKҩS KѫQ )', Fy [X KѭӟQJ WăQJ EҩWEuQKÿҷQJWKXQKұSQKѭQJQӃXVӵODQWӓDFӫDJLiRGөFYj*'3EuQKTXkQÿҫXQJѭӡLWăQJOrQKLӋXӭQJÿӃQSKkQSKӕLFӫD)',VӁJLҧP6DXNKLPӭFÿӝFDRKѫQFӫDQJXӗQQKkQOӵFYjSKiWWULӇQNLQKWӃÿmÿҥWÿѭӧF)',WKұPFKtFyWKӇJySSKҫQOjPJLҧPEҩWEuQKÿҷQJWKXQKұS
,P 0F/DUHQ FKR WKҩ\ )', JL~S OjPJLҧPFҧEҩWEuQKÿҷQJYjWӹOӋÿyLQJKqRӣFiFQѭӟFÿDQJSKiWWULӇQ1KyPGkQVӕFyPӭFWKXQKұSWKҩSWKӭKDLYjWKӭEDWURQJEiFKSKkQYӏÿѭӧFKѭӣQJOӧLQKLӅXQKҩWWURQJNKLQKyPWKXQKұSFDRQKҩWEӏWKLӋWKҥLQKLӅXQKҩW1JѭӧFOҥL6XDQHVWuPWKҩ\WiFÿӝQJWKXұQFKLӅXFӫD)',OrQEҩWEuQKÿҷQJWKX QKұS WURQJ OƭQK YӵF GӏFK Yө Yj VҧQ [XҩW ӣ QѭӟF&KkX0ӻ/DWLQKJLDLÿRҥQ
6ӱGөQJGӳOLӋXFӫDFiFQѭӟFNpPSKiWWULӇQJLDLÿRҥQ 7VDL FKR UҵQJ )', NK{QJOjPWăQJPӭFÿӝEҩWEuQKÿҷQJWKXQKұSӣFiFQѭӟFNpPSKiWWULӇQWUӯNKXYӵFĈ{QJĈ{QJ1DPÈ7ҥLÿy FiF QѭӟF NpP SKiW WULӇQ GѭӡQJ QKѭ ÿm Eӏ WәQWKѭѫQJEӣLFiFGzQJYӕQ)',
9ӟL Gӳ OLӋX FӫD TXӕF JLD WURQJ JLDL ÿRҥQ &KRL QKұQ WKҩ\ EҩW EuQK ÿҷQJWKX QKұS WăQJ OrQ FQJ YӟL Vӵ WăQJ OrQ FӫD OѭӧQJ)', WtFK ONJ\ &iF QJKLrQ FӭX VDX ÿy ÿm FKR WKҩ\ÿLӅXQj\NK{QJKRjQWRjQÿ~QJ:X +VXFKR UҵQJ )', Fy NKҧ QăQJ Jk\ KҥL FKR SKkQ SKӕLWKX QKұS ӣ QKӳQJ QѭӟF FKӫ QKj Fy NKҧ QăQJ KҩSWKө ӣ PӭF WKҩS QKѭQJ WҥL FiF QѭӟF Fy NKҧ QăQJKҩSWKөWӕWKѫQ)',FKӍJk\ҧQKKѭӣQJQKӓ7ѭѫQJWӵ/HVVPDQQWuPWKҩ\NӃWTXҧ)',UzQJOjPWăQJEҩWEuQKÿҷQJYQJӣFiFQѭӟFWKXQKұSWKҩSYjWUXQJEuQKWURQJNKLNK{QJFyKұXTXҧWiLSKkQSKӕLWLrXFӵFӣFiFQѭӟFFyWKXQKұSFDR=KXDQJ *UL¿WKWKuFKRUҵQJKRҥWÿӝQJViSQKұSYjPXDOҥLFyWiFÿӝQJNK{QJÿiQJNӇÿӃQEҩWEuQKÿҷQJWKXQKұSWURQJNKLÿҫXWѭPӟLFyWiFÿӝQJWtFKFӵFÿӃQEҩWEuQKÿҷQJWKXQKұS1JRjLUD/LQ FӝQJVӵFKRWKҩ\YDLWUzFӫDQJXӗQQKkQOӵFWURQJPӕLTXDQKӋQj\7ӗQWҥLPӝWQJѭӥQJFyêQJKƭDFӫDQJXӗQ QKkQ OӵF GѭӟL QJѭӥQJ Qj\ )', WҥR UD WiFÿӝQJWtFKFӵFOrQQJѭӡLQJKqRYjWLrXFӵFOrQQJѭӡLJLjXWӯÿyFҧLWKLӋQSKkQSKӕLWKXQKұSEuQKÿҷQJKѫQ9ѭӧWTXiQJѭӥQJQj\)',FyOӧLFKRQKӳQJQJѭӡL NK{QJ QJKqR Yj Jk\ WәQ WKѭѫQJ FKR QKӳQJQJѭӡLNK{QJJLjXYjGRÿyOjPWUҫPWUӑQJWKrPEҩWEuQKÿҷQJWKXQKұS
Trang 4&KLQWUDNDUQ FӝQJ Vӵ Vӱ GөQJ Gӳ OLӋXFӫDWLӇXEDQJFӫD+RD.ǤJLDLÿRҥQYjWuPWKҩ\WURQJQJҳQKҥQWiFÿӝQJFӫD)',ÿӃQEҩWEuQKÿҷQJWKXQKұSOjNK{QJÿiQJNӇYjQJѭӧFFKLӅXWURQJNKLYӅOkXGjLQKuQFKXQJ)',WҥRUDWiFÿӝQJQJѭӧFFKLӅXÿiQJNӇ'Yұ\FyWLӇXEDQJFKRWKҩ\PӕLTXDQKӋFQJFKLӅXJLӳD)',YjEҩWEuQKÿҷQJWKXQKұSWURQJGjLKҥQ.ӃWTXҧKӛQKӧSQj\FNJQJÿѭӧFWuPWKҩ\WUrQQKӳQJQKyPTXӕFJLDNKiFQKDX+HU]HU FӝQJVӵÿmÿLӅXWUDҧQK KѭӣQJ GjL KҥQ FӫD )', OrQ EҩW EuQK ÿҷQJ WKXQKұSӣQѭӟF0ӻ/DWLQWKHRÿyWҥLQѭӟF)',OjPJLDWăQJNKRҧQJFiFKWKXQKұSJLӳDFiFFiQKkQ)DUKDQ FӝQJVӵQKұQWKҩ\GzQJ)',YjRFy WiF ÿӝQJ OjP JLҧP EҩW EuQK ÿҷQJ ӣ 0DOD\VLD3KLOLSSLQHVYj7KiL/DQQKѭQJOҥLGX\WUuEҩWEuQKÿҷQJӣ6LQJDSRUHYj,QGRQHVLD
1JKLrQFӭXFӫD-HQVH 5RVDVFKRWKҩ\YLӋFJLDWăQJGzQJYӕQ)',YjRFyOLrQTXDQWӟLVӵJLҧPEҩWEuQKÿҷQJWKXQKұSӣQӝLEӝEDQJFӫD0H[LFRJLDLÿRҥQ7X\QKLrQYLӋFJLҧPEӟWEҩWEuQKÿҷQJWURQJQӝLEӝYQJÿѭӧFWҥREӣL)',WKӵFVӵFyWKӇOjPWăQJPӭFÿӝEҩWEuQKÿҷQJӣFҩSTXӕFJLDNKLPjFiFYQJWKXK~W)',NK{QJFKӍWUӣQrQEuQKÿҷQJKѫQPjFNJQJWKӏQKYѭӧQJKѫQӪQJKӝNӃWTXҧQj\5LYHUD &DVWURFNJQJFKRUҵQJ)',Fy[XKѭӟQJOjPJLDWăQJNKRҧQJFiFKEҩWEuQKÿҷQJJLӳDFiFYQJFӫD0H[LFRYuQyFy[XKѭӟQJFKҧ\YjRNKXYӵFSKiWWULӇQKѫQQKѭQJNK{QJ Fy EҵQJ FKӭQJ FKR WKҩ\ Qy WҥR UD EҩW EuQKÿҷQJWURQJQӝLEӝYQJ7URQJNKLÿy8FDO FӝQJVӵ OҥL WuP WKҩ\ WiF ÿӝQJ WKXұQ FKLӅX Fy êQJKƭDWURQJQJҳQKҥQQKѭQJNK{QJFyêQJKƭDWURQJGjLKҥQFӫD)',OrQEҩWEuQKÿҷQJWKXQKұSWҥL7Kә1Kƭ.ǤJLDLÿRҥQ
&yWKӇWKҩ\GVӕOѭӧQJFiFQJKLrQFӭXYӅWiFÿӝQJFӫD)',OrQEҩWEuQKÿҷQJWKXQKұSWѭѫQJÿӕLSKRQJ SK~ Yj ÿD GҥQJ QKѭQJ FzQ NKi WKLӃX YҳQJFiFQJKLrQFӭXOLrQTXDQÿӃQQKyPQѭӟFFKұPSKiWWULӇQQKyPQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩSKRһF NKX YӵF Ĉ{QJ 1DP È &NJQJ ÿm Fy PӝW VӕQJKLrQFӭXӣWURQJQѭӟFFKR9LӋW1DPQKѭFӫD9LӋQQJKLrQFӭXTXҧQOêNLQKWӃ7UXQJѭѫQJ&,(0QăPFKRUҵQJ)',FyWKӇOjPWăQJEҩWEuQKÿҷQJYӅWKXQKұSNK{QJFKӍӣWKjQKWKӏPjFҧJLӳDWKjQKWKӏYjQ{QJWK{QKRһF1JX\ӉQ7Kӏ7KDQK+X\ӅQYӟLNӃWOXұQWӍOӋ)',*'3FjQJWăQJFjQJNpRJLmQFKrQKOӋFKWKXQKұSJLӳDQ{QJWK{QYjWKjQKWKӏ«'Yұ\FiFQJKLrQFӭXYӅOƭQKYӵFQj\ӣWURQJQѭӟF
FzQNKiKLӃPKRL&KѭDNӇÿӃQFiFQJKLrQFӭXGOjWURQJQѭӟFKD\QJRjLQѭӟFWKuÿDSKҫQÿӅXWLӃSFұQ)', GѭӟL GҥQJ WәQJ WKӇ Pj FKѭD ÿL YjR WӯQJ ORҥLFөWKӇ7UѭӟFWKӵFWӃÿyEjLYLӃWQj\VӱGөQJFiFKSKkQORҥLQJjQKFӫD7UXQJWkP7KѭѫQJPҥL4XӕFWӃ,QWHUQDWLRQDO7UDGH&HQWHU,7&ÿӇ[HP[pWWiFÿӝQJFӫDWӯQJORҥL)',ÿӃQEҩWEuQKÿҷQJWKXQKұSӣQKyPFiFQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩS
1JKLrQ FӭX Vӱ GөQJ Gӳ OLӋX PҧQJ NK{QJ FkQ[ӭQJFӫDQѭӟFFyPӭFWKXQKұSWUXQJEuQKWKҩSJӗPQѭӟFFKkXÆXQѭӟFFKkXÈQѭӟFFKkX0ӻYjQѭӟFFKkX3KLWURQJÿyFy9LӋW1DPJLDLÿRҥQĈӇ[HP[pWWiFÿӝQJQJҳQKҥQFӫD)',ÿӃQEuQKÿҷQJWKXQKұSQJKLrQFӭXVӱGөQJP{KuQKNLQKWӃOѭӧQJFѫEҧQVDX
Trang 6ÿѭӧF ÿӗQJ WKӡL Gӳ OLӋX Eӏ QJҳW TXmQJ NKi QKLӅX6:,,'OjVӵNӃWKӧSJLӳD:RUOG,QFRPH,QHTXDOLW\'DWDEDVHFӫD:RUOG%DQNYӟLFiFWK{QJWLQWӯFѫVӣGӳ OLӋX /X[HPERXUJ ,QFRPH 6WXG\ Yj Gӳ OLӋX EҩWEuQKÿҷQJFӫD7KH8QLWHG1DWLRQV8QLYHUVLW\:RUOG,QVWLWXWH IRU 'HYHORSPHQW (FRQRPLFV 5HVHDUFK818:,'(5Ĉk\ÿѭӧF[HPOjPӝWWURQJQKӳQJFѫVӣGӳOLӋXWRjQGLӋQQKҩWÿҧPEҧRWtQKVRViQKÿѭӧFYӟLWK{QJWLQOLӅQPҥFKOLrQWөFYjÿmÿѭӧFVӱGөQJWURQJPӝWVӕQJKLrQFӭXJҫQÿk\QKѭ+HU]HU 1XQQHQNDPS2VWU\ FӝQJVӵ
.ӃWTXҧ YjWKҧROXұQ
3KҫQOӟQFiFP{KuQKKӗLTX\ÿѭӧFFKҥ\ÿӅXFKRNӃW TXҧ P{ KuQK WiF ÿӝQJ QJүX QKLrQ Oj SK KӧS&iFP{KuQKQj\FNJQJÿmÿѭӧFNLӇPWUDNKX\ӃWWұWYjNKҳFSKөFQӃXFҫQÿӇÿҧPEҧRÿӝWLQFұ\9LӋFVӱGөQJFiFQKyPQKkQWӕNLӇPVRiWNKiFQKDXÿmFKRWKҩ\WtQKYӳQJFӫDFiFѭӟFOѭӧQJNӃWTXҧWKX
ÿѭӧFWӯFiFP{KuQKKӗLTX\NKiFQKDXNKiÿӗQJQKҩW7KHRÿyѭӟFOѭӧQJKӋVӕÿӕLYӟL)',PDQJGҩX kP Yj Fy ê QJKƭD WKӕQJ Nr ӣ PӭF ;HP%ҧQJ.ӃWTXҧFKRWKҩ\)',NKDLWKiFWjLQJX\rQFyWiFGөQJOjPJLҧPPӭFÿӝEҩWEuQKÿҷQJQKLӅXNKҧQăQJGRQKXFҫXYӅODRÿӝQJNK{QJFyNƭQăQJKRһFtWNƭQăQJÿk\ÿӗQJWKӡLFNJQJOjQKӳQJQJѭӡLKѭӣQJOӧLQKLӅXQKҩWWӯORҥL)',Qj\WӯÿyWKXKҽSNKRҧQJFiFKWLӅQOѭѫQJJLӳDQKӳQJODRÿӝQJFyYjNK{QJFyNƭQăQJGүQÿӃQPӭFÿӝEҩWEuQKÿҷQJWKXQKұSJLҧP%rQFҥQKÿyѭӟFOѭӧQJKӋVӕÿӕLYӟLFiFELӃQWѭѫQJWiF)',YӟLNLӇPVRiWWKDPQKNJQJ)',YӟLÿӝPӣFӱDNLQKWӃÿӅXkPYjFyêQJKƭDWKӕQJNrWKұPFKtӣPӭFFKRELӃWUҵQJYӟLPӭFÿӝPӣFӱDQӅQNLQKWӃFjQJFDRNKҧQăQJNLӇPVRiWWKDPQKNJQJFjQJWӕWVӁFjQJOjPWăQJWiFÿӝQJWtFKFӵFQj\FӫD)',NKDLWKiFWjLQJX\rQ
ĈӕLYӟL)', VҧQ[XҩWFKѭDFyEҵQJFKӭQJFKR
3$,$#4$+",/
Trang 7WKҩ\WiFÿӝQJWUӵFWLӃSÿӃQEҩWEuQKÿҷQJWKXQKұSPһFGNӃWTXҧѭӟFOѭӧQJFKRJLiWUӏkPNKiÿӗQJQKҩW JӧL ê NKҧ QăQJ OjP JLҧP PӭF ÿӝ EҩW EuQKÿҷQJ[HP%ҧQJ7X\QKLrQOҥLFyEҵQJFKӭQJFKRWKҩ\WiFÿӝQJJLiQWLӃSJL~SFҧLWKLӋQPӭFÿӝEҩWEuQKÿҷQJFӫD)',VҧQ[XҩWWK{QJTXDJLiRGөFNLӇPVRiWWKDPQKNJQJYjFKLWLrXFKtQKSKӫWURQJNKLWK{QJTXDPӭFÿӝSKiWWULӇQFӫDQӅQNLQKWӃWiFÿӝQJFӫD)',OjWLrXFӵFWKӇKLӋQӣKӋVӕFӫDFiFELӃQWѭѫQJWiFJLӳD)',ORҥLQj\YӟLJLiRGөFNLӇPVRiW WKDP QKNJQJ Yj FKL WLrX FKtQK SKӫ ÿӅX kP YjFyêQJKƭDWKӕQJNrWURQJNKLYӟLPӭFÿӝSKiWWULӇQNLQKWӃKӋVӕQj\PDQJGҩXGѭѫQJYjFyêQJKƭDWKӕQJNrĈLӅXQj\FKRELӃWӣFQJPӭFFKLWLrXFKtQK SKӫ FQJ WӍ OӋ WӕW QJKLӋS FҩS FQJ PӭFNLӇPVRiWWKDPQKNJQJQӃXWăQJFѭӡQJ)',VҧQ[XҩWVӁ JL~S JLҧP EӟW PӭF ÿӝ EҩW EuQK ÿҷQJ WKX QKұSĈLӅXQj\FyWKӇÿѭӧFJLҧLWKtFKGRGzQJYӕQ)',VҧQ [XҩW PDQJ OҥL QKLӅX Fѫ KӝL YLӋF OjP KѫQ FKRQJѭӡLGkQQJD\FҧFiFQKyPWKXQKұSWKҩSWURQJ[m KӝL FNJQJ Fy Fѫ KӝL WLӃS FұQ QKLӅX KѫQ GR ÿyWKXQKұSÿѭӧFFҧLWKLӋQPӭFÿӝEҩWEuQKÿҷQJFNJQJVӁJLҧPQKLӅXKѫQ1KLӅXQJKLrQFӭXWҥLFiFQѭӟFÿDQJSKiWWULӇQFKRWKҩ\PӭFÿӝEҩWEuQKÿҷQJWăQJOrQFQJYӟLVӵJLDWăQJFӫDPӭFSKiWWULӇQNLQKWӃ7X\ QKLrQ QӃX GzQJ YӕQ )', VҧQ [XҩW ÿѭӧF WăQJ
%&'"$()*! %+$# ,$')'!!*-.
(/ (,&01 1"$!)$$")*! 2"*"$3")!*-
Trang 91KѭYұ\FiFORҥL)',NKiFQKDXFyWiFÿӝQJNKiFQKDXÿӃQEҩWEuQKÿҷQJWKXQKұSWURQJÿyWiFÿӝQJFӫD )', WKѭѫQJ PҥL GӏFK Yө Oj OӟQ QKҩW *LӕQJQKѭFiFQJKLrQFӭXFӫD-HQVH 5RVDV,P 0F/DUHQ&KLQWUDNDUQ FӝQJVӵQJKLrQFӭXQj\FNJQJWuPWKҩ\WiFÿӝQJOjPJLҧPEҩWEuQKÿҷQJWKXQKұSFӫDGzQJ)',YjREDRJӗP)',WKѭѫQJ PҥL GӏFK Yө Yj )', NKDL WKiF WjL QJX\rQWURQJ NKL WiFÿӝQJ FӫD)', VҧQ [XҩWOj JLiQWLӃS1JKLrQFӭXFNJQJFKRWKҩ\VӵFҫQWKLӃWSKҧLQJKLrQFӭXWӯQJORҥL)',NKiFQKDXFNJQJQKѭWtQKÿӃQYDLWUzFӫDJLiRGөFPӣFӱDWKѭѫQJPҥLFKLWLrXFKtQKSKӫ NLӇP VRiW WKDP QKNJQJ QKҵP FӝQJ KѭӣQJ WiFÿӝQJFӫD)',ÿӃQEҩWEuQKÿҷQJWKXQKұSÿLӅXPjtWQJKLrQFӭXÿmWtQKÿӃQ7X\QKLrQQJKLrQFӭXYүQFyQKӳQJKҥQFKӃQKҩWÿӏQK&K~QJWDPӟLFKӍ[HP[pW PӭF ÿӝ EҩW EuQK ÿҷQJ WKX QKұS QyL FKXQJ PjFKѭDWtQKÿӃQEҩWEuQKÿҷQJYQJQKLӅXNKҧQăQJYӟLVӵKLӋQGLӋQFӫDFiFGzQJ)',EҩWEuQKÿҷQJYQJVӁJLDWăQJ9ҩQÿӅQj\FҫQÿѭӧF[HP[pWӣQKӳQJQJKLrQFӭXWLӃSWKHRQKҵPÿѭDUDJLҧLSKiSWәQJWKӇKjLKzDSKKӧS
WuPWKҩ\WiFÿӝQJFӫDFҧORҥL)',PӝWFiFKWUӵFWLӃSKRһFJLiQWLӃSOrQEҩWEuQKÿҷQJWKXQKұS7URQJNKL )', NKDL WKiF WjL QJX\rQ Yj )', WKѭѫQJ PҥLGӏFKYөFKRWKҩ\WiFÿӝQJWUӵFWLӃSOjPJLҧPPӭFÿӝEҩWEuQKÿҷQJWKXQKұSWKuYүQFKѭDFyEҵQJFKӭQJFKRWKҩ\WiFÿӝQJWUӵFWLӃSFӫD)',VҧQ[XҩWÿӃQEҩWEuQKÿҷQJWKXQKұSWX\Yұ\OҥLFyEҵQJFKӭQJFKRWKҩ\WiFÿӝQJJLiQWLӃS9ӟLWUuQKÿӝJLiRGөFFDRKѫQNKҧQăQJNLӇPVRiWWKDPQKNJQJWӕWKѫQYjPӣFӱDWKѭѫQJPҥLVkXUӝQJKѫQVӁJL~SSKiWKX\WӕWKѫQWiFGөQJOjPJLҧPEҩWEuQKÿҷQJWKXQKұSFӫDFiFGzQJYӕQ)',7URQJEӕLFҧQK9LӋW1DPÿDQJWăQJFѭӡQJKӝLQKұSVkXUӝQJYjRQӅQNLQKWӃWKӃJLӟLFiFKLӋSÿӏQK733(9)7$$(&ÿDQJGҫQÿLYjRWKӵFKLӋQÿk\OjFѫKӝLÿӇ9LӋW1DPFҧLWKLӋQÿӡLVӕQJFӫDQJѭӡLGkQJLҧPEӟWEҩWEuQKÿҷQJWKXQKұSWK{QJTXDWKXK~WFiFOXӗQJYӕQÿҫXWѭWUrQWKӃJLӟL&K~QJWDFҫQQҳPEҳWYjWұQGөQJFѫKӝLQj\ Fy FiF FKtQK ViFK KӧS Oê ÿӇ WKX K~W )', YjR9LӋW1DPQJj\FjQJQKLӅXKѫQWUrQFѫVӣÿҧPEҧRSKkQSKӕLKӧSOê)',JLӳDFiFYQJQKҵPWUiQKJLDWăQJEҩWEuQKÿҷQJYQJYjÿҧPEҧRNK{QJJk\WәQKҥLÿӃQP{LWUѭӡQJ0һWNKiFÿӇWiFGөQJWtFKFӵFQj\FӫDFiFGzQJFKҧ\)',ÿҥWKLӋXTXҧFDRKѫQFK~QJWDFҫQWLӃSWөFÿҫXWѭSKәFұSYjQkQJFDRFKҩWOѭӧQJJLiRGөFNӃWKӧSYӟLNLӇPVRiWFKһWFKӁWKDPQKNJQJ9ӟLQKӳQJELӋQSKiSÿӗQJEӝQKѭYұ\FK~QJWDVӁFyWKӇÿҥWÿѭӧFPөFWLrXPjQKLӅXTXӕFJLDÿDQJKѭӟQJWӟLÿyOjWăQJWUѭӣQJNLQKWӃQJRҥQPөFÿLÿ{LYӟLF{QJEҵQJ[mKӝL
* 7#8 # !1 9$$: . ;&#(( < # !&0 4& = >? 6 @A 1 <# . 4 # B C 6
Trang 10/HVVPDQQ & µ)RUHLJQ GLUHFW LQYHVWPHQW DQG UHJLRQDO LQHTXDOLW\$ SDQHO GDWD DQDO\VLV¶ &KLQD (FRQRPLF5HYLHZ