Prime Minister Pham Minh Chinh: Expect '5 more' when Vietnam - Australia relations are upgraded
Báo Chính Phủ•05/03/2024
(Chinhphu.vn) - On the morning of March 5, during his official visit to Australia, Prime Minister Pham Minh Chinh attended the Vietnam - Australia Business Forum.
Prime Minister Pham Minh Chinh attends the Vietnam - Australia Business Forum - Photo: VGP/Nhat Bac
The Forum was held at RMIT University, Melbourne, Victoria, organized by the Ministry of Planning and Investment and the Embassy of Vietnam in Australia in coordination with the Australian Trade and Investment Commission and the Australian Embassy in Vietnam. Previously, also at RMIT University, the Prime Minister and leaders of ministries, sectors and localities of the two countries attended the inauguration ceremony of the Australia - Vietnam Policy Institute. Vietnam is an important link in Australia's strategy. According to information from the Forum, after more than 50 years of nurturing and building, the Vietnam - Australia Strategic Partnership has achieved important achievements in all aspects, going deep and effective, towards upgrading the relationship to a Comprehensive Strategic Partnership. Vietnam and Australia are also two countries with important geostrategic positions, two economies that complement each other and develop together.
Vietnamese delegation attending the Forum - Photo: VGP/Nhat Bac
Australia, with its large area and abundant resources, is a leader in education and training, manufacturing, high-tech agriculture, finance, services, startups and innovation. Vietnam is identified as an important link in Australia's "Southeast Asia Economic Strategy to 2040". Since the two countries upgraded their strategic partnership in 2018, economic - investment - trade cooperation has always been of interest, promoted development and achieved many positive results. Regarding investment, Australian investors have invested in Vietnam since the early days of opening up, and have made many contributions to the integration and socio-economic development process over the years. To date, with more than 630 projects and more than 2.03 billion USD in registered capital, Australia ranks 20th out of 145 countries and territories investing in Vietnam, mostly in the processing and manufacturing sectors. In return, Vietnam has invested in Australia in more than 90 projects with a total investment capital of more than 550 million USD.
Australian Manufacturing and Trade Co-Minister Tim Ayres delivered the opening speech at the Forum - Photo: VGP/Nhat Bac
In terms of development cooperation, Australia is one of Vietnam's leading development partners with a total accumulated ODA capital of approximately 3 billion AUD, in which the two sides have coordinated to implement many key projects with spillover effects and positive socio-economic impacts in the fields of innovation, infrastructure development (such as My Thuan 1 Bridge), training high-quality human resources and preventing the COVID-19 pandemic. In terms of trade, with the advantages of new-generation free trade agreements of which both sides are members such as CPTPP, RCEP..., trade turnover between the two countries has made remarkable progress. In 2023, bilateral trade between the two countries will reach about 14 billion USD, ranking among each other's top 10 trade partners.
Victorian Premier Jacinta Allan delivers a welcome speech at the Forum - Photo: VGP/Nhat Bac
Speaking at the opening of the Forum, Australian Trade and Manufacturing Minister Tim Ayres mentioned the good impression and warm welcome during his visit to Vietnam in 2022, saying that the Forum will open a new phase in trade relations between the two countries. He affirmed that in a multicultural country like Australia, the Vietnamese community plays a very important role and has been constantly developing. If in 1991 there were 124,000 Vietnamese people, there are now nearly 300,000 people in Australia. Of which, RMIT University and Melbourne city have the presence of many Vietnamese people. The Minister affirmed that the relationship between the two countries has been strengthened thanks to the relationship between the people, businesses and the two governments. He said that the economic relationship between the two countries has been constantly developing and the two sides still have great potential for cooperation. Australia wishes to cooperate more with Southeast Asia and Vietnam. The Co-Ministers hope to see practical results in economic, trade and investment cooperation from the Forum, as well as promote educational cooperation between RMIT, Australian universities and Vietnamese partners, and increase contact and exchange between the people and young generations of the two countries.
The Prime Minister was pleased to announce that during his visit to Australia, the two sides are expected to announce the upgrading of bilateral relations, thereby bringing the relationship between the two countries to become increasingly deeper, more substantive and more effective - Photo: VGP/Nhat Bac
Sharing the views and trust with the Co-Ministers, Victorian Premier Jacinta Allan assessed that the Vietnamese community in Victoria is strong and diverse, with an increasingly strong influence on the economy, culture, and cuisine, especially in Melbourne's central business district. She added that more than 14,000 Vietnamese students are currently studying in Victoria. The Co-Ministers and the Victorian Premier also believed that the establishment of the Australia-Vietnam Policy Institute would be an important catalyst for the relationship between the two countries in the coming years. Speaking at the Forum, Prime Minister Pham Minh Chinh highly appreciated the organization of the Forum at RMIT University, Melbourne - two locations that create momentum and inspiration for the relationship between the two countries.
The Prime Minister expressed his wishes and expectations for "5 more things" when the bilateral relationship is upgraded - Photo: VGP/Nhat Bac
The Prime Minister was pleased to announce that during his visit to Australia, the two sides are expected to announce the upgrading of bilateral relations, thereby bringing the relationship between the two countries to greater depth, substance and effectiveness. "This affirms that although the geographical distance may be far, the hearts and cooperation between the two sides cannot be prevented, for the benefit of the two peoples, contributing to peace, stability, cooperation and development in the region and the world," the Prime Minister said, hoping that businesses would contribute to this. The Prime Minister expressed his wishes and expectations for "5 mores" when the bilateral relationship is upgraded: Better political trust, higher economic - trade and investment cooperation, stronger science - technology cooperation, innovation, education and training cooperation, deeper cultural and people-to-people exchanges, and stronger tourism and labor cooperation. The Prime Minister also expressed his joy and confidence that the Australia-Vietnam Policy Institute will do a good job of researching the situation and recommending policies to the two governments to continuously deepen the bilateral relationship into greater depth, substance and effectiveness.
The Prime Minister hopes that associations, business communities and investors of the two countries will further promote cooperation - Photo: VGP/Nhat Bac
Outlining the main features of Vietnam's development guidelines, policies and achievements in recent years, the Prime Minister said that economic, trade and investment cooperation is an important pillar in the bilateral relationship. The results achieved are very valuable but still modest compared to the potential and space for cooperation between the two countries. Wishing that the associations, business communities and investors of the two countries will further promote cooperation, the Prime Minister affirmed that the two governments will continue to create all favorable conditions for this cooperation. The Vietnamese government will protect the legitimate and legal rights and interests of businesses and investors; continue to promote the three strategic breakthroughs (institutions, infrastructure and human resources), reform and simplify administrative procedures, and cut compliance costs for investors. The Prime Minister asked Australia to support Vietnam in the three strategic breakthroughs. In the process of cooperation, difficulties and obstacles are inevitable. The Prime Minister suggested that the two sides remove and resolve them on the basis of harmonious interests, shared risks, and harmonious interests between the State, enterprises, and people. The Prime Minister suggested that in cooperation, the two sides focus on promoting traditional growth drivers such as investment, export, and consumption, in which Vietnam has a market of 100 million people, many Australian products are favored by Vietnamese people, and Vietnam also has advantages in many products such as agricultural products, electronics, garments, etc. The Prime Minister also suggested that the two sides cooperate to promote new drivers such as digital transformation, green transformation, circular economy, knowledge economy, and sharing economy on the basis of innovation and science and technology. The Head of Government also hopes that the two sides will continue to promote people-to-people exchange, tourism, culture, and education and training on the basis of strongly promoting the unique and rich identities of the two nations. On this occasion, Prime Minister Pham Minh Chinh sincerely thanked and hoped that Australia would continue to create favorable conditions for Vietnamese people to live, work and study in the country. In particular, the Prime Minister thanked Australia for being the country that has provided the most support to Vietnam in terms of COVID-19 vaccines, especially vaccines for children, while access to vaccines is very difficult. "In times of difficulty and adversity, we know who are good, sincere and devoted to us," the Prime Minister said. At the conference, business delegates presented investment and business cooperation opportunities. In particular, Blackstone Minerals assessed Vietnam's leading advantage in the global energy transition picture, especially in the exploitation and processing of "green" nickel, creating finished products used in new technology industries such as electric vehicle batteries; VinaCapital assessed the development potential of the financial market in Vietnam; TH assessed investment cooperation in the field of high-tech agriculture of Vietnamese enterprises in Australia. At the Forum, Prime Minister Pham Minh Chinh attended the ceremony to announce Vietjet’s new route connecting Melbourne, Australia with Hanoi, Vietnam, meeting the travel demand between the two leading central cities of the two countries. Vietjet and Swissport also signed an agreement on providing ground services and cargo transportation.
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