Viet Nam–Australia Business Forum held in Melbourne

Speaking at the forum, Vietnamese Ambassador to Australia Pham Hung Tam stated that the event reflects the attention of the Ministry of Industry and Trade, as well as the government in general, to the community of Vietnamese entrepreneurs and overseas Vietnamese in Australia — one of the largest Vietnamese entrepreneur communities abroad.

“I believe this is a highly favourable occasion for us to share assessments on current Viet Nam–Australia relations, thereby identifying and seeking opportunities for economic, trade, and investment cooperation with Vietnamese partners, as well as exploring areas of interest to the business community in Australia, where they can participate and contribute opinions to help our country become increasingly prosperous and confidently stride into a new era,” said Ambassador Pham Hung Tam.

In terms of political cooperation, both sides maintain high mutual trust and regularly exchange high-level delegations. The two sides have agreed to raise two-way trade to 20 billion USD at the earliest time. An increasing number of Vietnamese localities and enterprises are interested in investment and business opportunities in Australia.

Also at the forum, Nguyen Van Hoi, Head of the Institute of Strategy and Policy for Industry and Trade, provided information on Viet Nam’s business environment.

Regarding institutional and administrative organisation, Viet Nam is accelerating reforms, restructuring administrative units, and decentralising powers to local authorities, thereby narrowing the distance between state management bodies, the people, and businesses.

In terms of the legal environment for investment and business, many important resolutions of the Party Central Committee and the Politburo have recently been issued to remove obstacles and barriers, harmonise production–business activities with state management, and create favourable conditions for domestic enterprises and foreign investors. These include resolutions on e-commerce; the National Energy Development Strategy; accelerating industrialisation and modernisation; and developing science, technology, and innovation.

Within the framework of the forum, Tran Ba Phuc, Chairman of the Viet Nam Business Association in Australia, emphasised that this is a highly meaningful event and one long awaited by the Vietnamese business community in Australia. According to him, the Vietnamese community in Australia is growing stronger, gaining higher position, and becoming an important intellectual and entrepreneurial force, contributing both to the host country and to Viet Nam. This is a powerful driver of trade and investment between the two sides, especially since Viet Nam and Australia upgraded ties to a comprehensive strategic partnership.