Business

Vietnam ready to assist Australian businesses: diplomat

Vietnam will support Australian enterprises as they explore and expand their investment, business and trade activities in the country, Vietnamese Ambassador to Australia Nguyen Tat Thanh told the host’s business community on May 5.
Vietnam ready to assist Australian businesses: diplomat ảnh 1A view of Vietnam-Australia business connect (Photo: VNA)
Sydney (VNA) - Vietnam will support Australian enterprises as theyexplore and expand their investment, business and trade activities in thecountry, Vietnamese Ambassador to Australia Nguyen Tat Thanh told the host’sbusiness community on May 5.

Addressing a meeting with representatives from Australianfirms, Thanh briefed them on the economic situation and trade developmentpotential of Vietnam.

He cited the Asian Development Bank’s forecast as sayingthat Vietnam's economy will post a strong recovery in 2022, with growth reaching6.5 percent, and 6.7 percent in 2023.

In the annual "Best Countries Rankings" compiledby the US News & World Report, Vietnam is currently placed 25th, he said,adding that the country is a promising investment environment for foreignbusinesses, not only in big cities like Hanoi, Ho Chi Minh City and Da Nang,but also in other provinces and cities.

Regarding Vietnam-Australia relations, the ambassador saidthat the two sides share many economic cooperation frameworks, as they aremembers of the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)and most recently the Regional Comprehensive Economic Partnership (RCEP).

Both governments strongly support bilateral economiccooperation and development. In 2018, the two countries upgraded theirrelationship to a strategic partnership, and they are expected to continue to pushthis relationship to a new level - comprehensive strategic partnership - inFebruary 2023. This will create favourable conditions for their businesses tocooperate and promote investment, he affirmed.

Graham Kinder, Vice President of the Australia-VietnamBusiness Council, stated that Australian businesses see a lot of investmentopportunities in all areas in Vietnam, from trade and investment to education,tourism and transportation.

That’s why Australia wants to expand its investment in theSoutheast Asian nation, he said.

He also stressed that it is time for the two businesscommunities to take advantage of cooperation opportunities in the post-pandemicperiod, after the two governments officially reopened their national bordersand are promoting investment cooperation activities./.
VNA
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