Bush Opens Stock Exchange in Vietnam

Dressed in traditional "ao dai," leaders of the Asia Pacific Economic Cooperation (APEC) walk to a garden of at the National Convention Center for a group photo session in Hanoi Sunday, Nov. 19, 2006. From front: Peruvian Vice President Luis Giampietri; U.S. President George W. Bush; Russian President Vladimir Putin; Thai Prime Minister Surayud Chulanont; Singapore's Prime Minister Lee Hsien Loong; Indonesian President Susilo Bambang Yudhoyono; and Japanese Prime Minister Shinzo Abe. (AP Photo/Hoang Dinh Nam, Pool) (Hoang Dinh Nam - AP)

HO CHI MINH CITY, Vietnam -- President Bush paid tribute to new symbols of capitalism in this struggling communist country Monday and offered encouragement for Vietnam's battle against bird flu and other public health challenges.

The president quickly toured this city, once known as Saigon, before flying to Indonesia, the world's most populous Muslim country, where thousands angrily protested America's policy in the Middle East and wars in Iraq and Afghanistan.

The White House said it was confident about security precautions for Bush's visit despite police warnings of an increased threat of attack by al-Qaida-linked groups.

The president was to spend just six hours in Indonesia, most of it at Bogor Palace, a presidential retreat outside the capital of Jakarta and far from the scene of protests where Bush was denounced as a "war criminal' and "terrorist."

While President Susilo Bambang Yudhoyono is a close U.S. ally in the war on terror, Bush is highly unpopular in Indonesia where security forces were probing unconfirmed reports that a suicide bomber was planning to attack during Bush's visit on Monday. Bogor Police Chief Col. Sukrawardi Dahlan said authorities were investigating a report that a man wearing a suicide vest would infiltrate the protests.

Initially, the White House thought Bush would have to fly to Indonesia on a backup Air Force One. There was a problem with a tire upon landing in Ho Chi Minh City, said White House spokesman Tony Fratto. But a replacement tire was found, and the president is scheduled to fly his regular Boeing 747 to Indonesia.

In Ho Chi Minh City, Bush visited the Vietnam stock exchange, where trading began in 2000 and expanded to Hanoi last year. The exchange initially listed two companies and two bonds. Now, there is trading in 56 stocks and funds on the combined exchanges with total capitalization of $3.5 billion.

The president, wielding a red-handled mallet, struck a gong to open the day's trading. Bush hit it three times, shook hands with traders on the floor and met with a group of American and Vietnamese business leaders.

"I am very interested in hearing what the opportunities are like and the obstacles you face," the president told them. "Perhaps the United States can help foster the market economy that is growing here."

"When I read about the recent economic history of Vietnam," he said, "I am amazed at the size of the growth and the fact that people are beginning to realize dreams." Last year, Vietnam's economy grew by a robust 8.4 percent.

Bush also visited the Pasteur Institute, a yellow stucco facility that conducts research in preventive medicine and works to control the spread of infectious diseases.

Bush congratulated health officials on Vietnam's effort to combat bird flu, which earlier killed 42 people in Vietnam, but has not claimed any victims during the past 12 months. Last year, Vietnam inoculated 124 million poultry, and in a first round of vaccinations, inoculated 110 million birds this year.