Sydney conference on business opportunities in Vietnam

In his speech,Vietnam Ambassador to Australia Luong Thanh Nghi reviewed the socio-economic development situation in Vietnam and highlighted country’s important renewal achievements during the past three decades.

Vietnam has become a middle-income country, with an average annual growth of more than 6% in many years and people’s improved living conditions, he said, adding that the country is also boosting deeper international integration. 

The diplomat also pointed out a number of challenges facing the country amidst the complicated world situation and slow global economic recovery. 

In the time to come, Vietnam will focus on reforming the economy, restructuring State-owned enterprises and creating favourable conditions for foreign investors. Vietnam and Australia are effectively cooperating across a variety of fields. The Southeast Asian nation is the fastest growing trade partner of Australia among ASEAN countries, he said.

Participants discussed opportunities for Australian firms in Vietnam as well as their experience in the market, noting that Vietnam boasts huge great economic potential with its strategic location, improving investment environment and young workforce as well as the country’s signing of many free trade agreements, including that with the EU and the Trans-Pacific Partnership (TPP).

On the occasion, the Australia - Vietnam Young Leadership Dialogue (AVYLD) has been officially launched as an initiative of some Vietnamese - Australian youngsters, aiming to deepen the mutual understanding between the two countries’ people, especially the youth. 

The non-profit forum is supported by the Australian Government through the Australia-ASEAN Council and other partners.

The first dialogue is scheduled to take place in May next year.