Prime Minister Nguyen Tan Dung has called for more investment from Australia and pledged to further administrative reform to create a more transparent and convenient environment for foreign investors.
“The Vietnamese Government will continue perfecting policies to ensure that the market economy operates in accordance with international practice and will focus investment on infrastructure and human resources to assure sustainable development,” the PM told a business forum in Melbourne on October 14 during his official visit to Australia.
Much remains to be done to boost economic ties to a level that matches the existing traditional friendship, potentials and desires of the two countries, the PM further said.
After the forum, PM Dung witnessed the signing of a cooperation agreement between the Chambers of Commerce and Industry of Vietnam and the Victoria State, and a memorandum of understanding between Tien Giang province and the Transport Work Construction Corporation 5 of Vietnam and the Country State Development Pty Ltd. of Australia on the construction of a 1-billion-USD urban area and a 120-million-USD bridge.
The same day, PM Dung met with representatives from leading Australian economic groups and universities, including Alcoa, ANZ Bank, BHP Billington, Deakin and RMIT.
He told his guests that during his meetings with Australian leaders, the two sides agreed to work out a roadmap for comprehensive cooperation that aims at practicality and higher efficiency with more favourable conditions to be given to boosting economic ties.
Vietnam and Australia have finalised their bilateral negotiations in the framework of the ASEAN-Australia-New Zealand Free Trade Agreement, the PM said, adding this will bring in new cooperation opportunities.
“Therefore, Australian businesses can feel secure to do business in Vietnam and they should make full use of the current favourable conditions to further enhance their trade and investment ties with the Vietnamese partners,” he said.
The PM’s guests said they wanted to make long-term investment in Vietnam, with focus on a number of areas that are Australia’s strong points such as services, banking, education, food processing and steel production.
They all felt the Vietnamese Government’s move to permit ANZ to set up a wholly foreign-owned bank is evidence of the rapid development in economic ties between the two countries.
Before wrapping up his official visit to Australia, PM Dung received Victoria State Governor David de Kretser and Premier John Brumby.
He suggested that the Victoria State consider cooperation with Vietnam in financial-telecom services, agriculture, dairy cow husbandry, food processing, oil and gas exploitation, energy and human resources development, which are the state’s strengths.
The PM also asked the Austrian officials to facilitate Vietnamese students study. He said around 10,000 Vietnamese students are studying in Australia, with Victoria State being a top choice for them.
In addition, PM Dung sought Victoria State’s assistance to the overseas Vietnamese community so that they can contribute more to the locality and the friendly relationship between Vietnam and Australia.
The Victorian governor and premier spoke highly of the visit by PM Dung, describing it as a proof of the increasingly practical and efficient cooperation between the two countries.
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