PM Nguyen Xuan Phuc Advocates for Vietnamese Investment Opportunities in Australia
Vietnam-Australia Business Forum: A Call to Action
Prime Minister Nguyen Xuan Phuc has encouraged Australian companies to explore investment opportunities in Vietnam during the Vietnam-Australia Business Forum held in Sydney on March 16, coinciding with his official visit to Australia.
Promoting Investment Opportunities
Highlighting Vietnam's potential market, Prime Minister Phuc urged Australian investors to seize the available opportunities in various sectors. The event, attended by hundreds of enterprises and investors from both countries, witnessed the exchange of 18 memoranda of understanding on investment cooperation.
Vietjet Air's New Direct Air Route
Among the agreements signed, Vietjet Air's plan to establish a direct air route between Vietnam and Australia was highlighted by Prime Minister Phuc as a facilitator for enhancing investment collaboration between Vietnamese and Australian enterprises.
Improving Bilateral Trade and Investment Ties
Acknowledging the challenges faced by Australian firms in accessing information about Vietnam, Prime Minister Phuc emphasized the importance of promoting bilateral trade and investment ties. He encouraged investment promotion agencies from both countries to intensify efforts in this regard.
Prime Minister Nguyen Xuan Phuc speaks at the Vietnam-Australia Business Forum (Source: VNA)
Vietnam's Economic Achievements
Prime Minister Phuc also outlined Vietnam's economic achievements, including robust GDP growth rates and improvements in the business and investment environment. He emphasized Vietnam's large market size, favorable policies, and commitment to economic stability and reform.
Optimism about Bilateral Trade
In response, Senator James McGrath, Assistant Minister to the Australian Prime Minister, commended Vietnam's dynamic economy and expressed optimism about the potential for increased trade between the two countries. He highlighted the significance of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in enhancing regional economic cooperation.
Encouraging Australian Investment in Vietnam
Senator McGrath encouraged Australian firms to explore the Vietnamese market, emphasizing the role of Vietnamese expatriates in fostering connections between enterprises from both countries. He expressed Australia's readiness to welcome more Vietnamese investors and underscored the growing bilateral trade relationship between the two nations.
Vietnam-Australia Trade Relationship
Currently, Vietnam is Australia's 15th largest trade partner, while Australia ranks as Vietnam's seventh largest trade partner. Australian companies have invested approximately $1.9 billion USD in Vietnam.
Reference: Vietnamnet
