Hanoi (VNA) – A hybrid Vietnam - Australia Economic Forum, themed “Building bridges for mutual prosperity,” was held in Hanoi on September 26, providing a platform for academic exchanges and open, multi-dimensional dialogue aimed at deepening the bilateral comprehensive strategic partnership.
As of early this year, Australia ranked among the leading countries in direct investment in Vietnam with 670 projects worth more than 1.86 billion USD, and provided 3 billion AUD in official development assistance (ODA) over the past five decades. Bilateral trade reached 14 billion USD in 2024. Currently, Australia is Vietnam’s ninth-largest trading partner, while Vietnam ranks 10th among Australia’s major partners.
Nguyen Duc Hien, Vice Chairman of the Party Central Committee’s Commission for Policies and Strategies, said these figures demonstrate the enormous cooperation potential between the two nations, particularly in trade, investment, education, and science-technology.
He suggested both sides jointly carry out projects on research, development, and technology transfer; boost two-way trade; and expand cooperation in emerging areas such as digital transformation, energy transition, and climate change response.
Hien added that the growing number of scholarships, research collaborations, and student exchange programmes between the two countries illustrates strong mutual trust and long-term connectivity, laying a solid foundation for sustainable economic and social cooperation.
Australian Deputy Ambassador to Vietnam Renee Deschamps emphasised that the relationship between the two countries is founded on strong people-to-people connections, trust, and mutual benefits. Both nations are collaborating to promote economic growth and prosperity, not only for themselves but also for their region as a whole.
She underlined that the establishment of the comprehensive strategic partnership reflected the high level of trust and long-term commitment to broad-based cooperation, particularly in digital transformation, climate resilience, clean energy, innovation, and education.
Assoc. Prof. Dr. Dao Thanh Truong, Vice President of Vietnam National University, Hanoi, noted that more than 80,000 Vietnamese students have studied or are studying in Australia, while over 200 educational institutions from both countries are engaged in diverse forms of cooperation. Together, Vietnamese and Australian universities have conducted over 5,000 joint research projects.
In the context of the global economy shifting strongly towards digitalisation, green growth and sustainability, both Vietnam and Australia are facing new opportunities and challenges. Vietnam has advantages in terms of young workforce, competitive costs, strategic geographical location in Southeast Asia; while Australia possesses advanced technology, high-quality education system and management capacity of a developed economy. This complementarity creates a solid foundation for a deep, effective and sustainable partnership, enhancing the position of the two countries in the region and in the international arena, he stressed./.
