Vietnam, Australia look to build new growth drivers, expand economic ties

At the reception, Special Envoy Nicholas Moore said that the visit by Party General Secretary and State President To Lam and the high-level Vietnamese delegation is highly significant and marks an important milestone in the history of diplomatic relations established over the past 50 years.

He discussed opportunities to enhance cooperation with Vietnam, including the implementation of Australia’s Southeast Asia Economic Strategy to 2040, orientations for expanding trade, promoting bilateral investment, connecting businesses and investors with Vietnam’s priority sectors, and developing practical cooperation models.

Emphasizing that bilateral trade cooperation has achieved positive results, Moore called for aiming toward higher trade value. He noted that recent signing agreements in aviation and other fields will further boost trade connectivity, adding that he has submitted a report to the Australian Government on bilateral trade scale alongside proposed solutions to boost two-way trade and investment.

According to the Special Envoy, both Vietnam and Australia can serve as destinations for tech startups. Many investors are keen to enter Vietnam thanks to its clear message, development aspirations, and dynamic market. Furthermore, the large Vietnamese community and student population in Australia present a major opportunity to promote innovative entrepreneurship and contribute to the growth of the two countries.

For his part, Party General Secretary and State President To Lam expressed his wish for Vietnam to remain a key focus partner for Australia as it implements its Southeast Asia Economic Strategy to 2040.

He hailed Moore’s contributions to formulating the strategy and connecting the Australian Government with the business and investor community.

To Lam affirmed that Vietnam regards Australia as a top-priority partner in the Indo-Pacific. Seizing new opportunities, the Comprehensive Strategic Partnership must be further strengthened in a practical and effective manner, while expanding trade and investment, and more importantly, jointly generating new growth drivers.

He shared that Vietnam is striving to become a high-income nation by 2045, driven by science-technology, innovation, digital transformation, green transition, and private sector development, and expressed his hope that Australia will continue to be an important partner in this journey.

With its stable investment environment, young workforce, strategic position in supply chains, and expanding market scale, Vietnam possesses favorable conditions to become a priority destination for Australian businesses and investors.

The country prioritizes attracting projects with advanced technology, modern management, high added value, technology transfer capabilities, workforce training, and strong linkages with domestic enterprises.

The top Vietnamese leader suggested shifting bilateral cooperation toward long-term programs in innovation, science-technology, human resource development, green finance, high-quality infrastructure, strategic supply chains, education, and research.

Stressing the high level of complementarity between the two countries in resources, development levels, and regional vision, he urged both sides to turn cooperation efforts into concrete economic projects, thereby solidifying the Comprehensive Strategic Partnership, improving people's lives, and boosting the development of both countries.

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