Both De Niro and Duran had tears in their eyes as they embraced to a standing ovation after the moving tale of the Panamanian's journey to boxing stardom in
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clip was played showing many of his roles from Casino to Taxi Driver.
"It's a great honor to be honored here in Cannes. As I've said before and will say again: Thank God for the French," said the 72-year-old New Yorker.
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De Niro cracked Panama tax jokes as he told of the journey to make the movie, which was eventually filmed in the country most recently in the news for the
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turning the hothead, America-hating Duran into a world champion.
The film comes 36 years after his Oscar-winning performance as self-destructive boxer Jake LaMotta in Martin Scorsese's 1980 classic Raging
Bull.
Hands of Stone focuses on the rivalry between the Panamanian brawler (played by Edgar Ramirez) and Sugar Ray Leonard (played by the singer Usher Raymond).
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Duran - who began his professional career at 16 - fought on till he was 50.
Hands of Stone, directed by Jonathan Jakubowicz, will be released internationally in August and September.
HO CHI MINH CITY, June 19 (Xinhua) -- The Organization for Economic Cooperation and Development (OECD) as well as foreign and Vietnamese officials
have just pinpointed three key structural policy challenges, including
infrastructure, state-owned enterprises and job creation.
Senior policymakers from members of the ASEAN and the OECD, an international economic organization of 34 countries established in 1961 to foster economic
progress and world trade, in mid-June gathered in Vietnam for the first time to
touch upon various issues, including economic outlook for Vietnam in 2016.
Regarding key structural policy challenges Vietnam is facing this year, the OECD listed infrastructure gap, sluggish reform of state-owned enterprises
(SOEs), and imbalance between job creation and job improvement.
"A significant infrastructure gap is expected to arise as Vietnam's growth continues and financing will be a challenge," the OECD said in its latest report
introduced in Vietnam on June 15 and discussed for days later.
According to the OECD, Vietnam's recent restructuring of public investment to improve the efficiency of investment allocation and to strengthen monitoring and
assessment frameworks have helped to lay a better foundation for future
infrastructure investment. Domestic and foreign private investors are being
encouraged to participate in pilot public-private partnership projects. "More
could also be done to mobilize private savings in Vietnam, for example, through
the issuance of government-guaranteed bonds for infrastructure development," the
OECD recommended.
According to the World Economic Forum, Vietnam's infrastructure quality index has gone up 24 rankings in the last five years, from the 123rd out of 139
economies in 2010 to the 99th out of 140 economies in 2015.
"However, investment in infrastructure still has many shortcomings; many projects have been planned in an inadequate way. The allocation of projects is
scattered, so capital allocation is scattered, too. The insufficient financing
has led to sluggish implementation, causing big losses and wastefulness," a
senior official from the Vietnamese Ministry of Planning and Investment told
Xinhua on Sunday.
The OECD stated that in 2016 the reform of Vietnamese SOEs will be another important challenge to improve competition and competitiveness. Reforms have
been gradual and have mainly been implemented through the transformation of SOEs
into joint stock companies and through mergers and consolidation. However,
challenges remain as SOEs retain preferential access to finance, state budget
capital, land and other resources.
"Further reforms should seek to ensure that SOEs compete fairly with the private sector and that SOE performance is monitored and evaluated. For example,
the agency responsible for the state ownership function of SOEs must be
independent from the agency that implements the SOE management function and the
market regulation function," said the OECD.
SOEs contributed to 34.81 percent of Vietnam's GDP between 2006 and 2010, and the rate dropped to 32.26 percent in the 2011-2015 period, mainly due to SOE
equitization, according to the country's General Statistics Office. "The
economic restructure has been on right track but at slow pace. Production and
business efficiency of many SOEs has not caught up with big assets and resources
allocated to them. The proportion of privatized capital is still low," the local
official commented.
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