Top lawmaker: Vietnam opens door for Australian firms

Ngan said with a 100 million population by 2020, improved business climate and upgraded transport infrastructure, and increased purchasing power, Vietnam has drawn over US$313 billion in foreign direct investment (FDI) from 128 countries and territories and has gradually become an important link of the global value chain, especially in electronics, apparel, agriculture and fishery. 

Vietnam is committed to creating the best business environment in accordance with standards of the Organisation for Economic Cooperation and Development (OECD) countries, and continuing to improve the economy’s competitiveness and refine legal regulations, which have been recognised by international organisations, she said, adding that the Vietnamese NA pledges to provide all possible support for Australia investors. 

While hailing huge potentials for bilateral cooperation, the top legislator said Vietnam wants Australian firms to further expand business operations in the fields of manufacturing, energy, infrastructure, agriculture, food processing, mineral resources, telecommunications, services, education and tourism. 

Vietnam also expected Australian businesses to participate in restructuring the financial-banking sector, equitisation of State-owned enterprises, and start-ups in the country, Ngan added.

She expressed her wish that Australia and Western Australia state in particular would make it easier for Vietnamese products such as agro-aquatic products, garments, wooden furniture, rubber, electronic products and computer components to access their markets. 

Vietnam is willing to import wheat, mineral resources, cotton, pharmaceuticals and modern industrial equipment from Australia, the legislature leader said.

In his speech, Parliamentary Secretary to the Premier of Western Australia state and Minister for Public Sector Management, State Development, Jobs and Trade John Carey MLA said Vietnam is one of the Asian countries that the state has given priority to developing ties, adding that the Vietnamese is the third most popular language in Western Australia. 

He said the state authorities are satisfied with Vietnam’s selection of Perth city for its second Consulate General and decided to establish a business advisory council between the two sides. 

Carey said Western Australia hopes to foster ties with Vietnam on the back of exchanges between their people and administrations, with a focus placed on education, trade and investment. 

Vietnam has the sixth largest number of students in Western Australia, while two-way trade neared US$1.2 billion in 2015-2016, he elaborated.

Carey suggested the exchange of regular visits to discuss measures to enhance bilateral ties, thereby bringing more benefits to their two people.

In the afternoon of December 1, the Vietnamese NA leader visited several economic establishments in Western Australia.