According to him, the first challenge is geopolitical in nature, as conflicts are ongoing in multiple regions like Europe, the Middle East, and the Americas, at a time when the post-World War II system of international relations is being disrupted. While it is not possible to accurately predict future developments, international geostrategic competition with the risk of conflict remains a reality that Vietnam will continue to face. However, Goledzinowski noted that this is also a type of challenge that Vietnam has successfully managed in the past.

The second challenge, he said, relates to the risk of disruptions to global trade, at a time when Vietnam is one of the world’s most open economies and remains heavily dependent on exports. The imposition of new tariffs by the United States is seen as a significant source of pressure; however, bilateral Vietnam–US trade continued to record impressive growth in 2025.

According to the former Australian ambassador, this demonstrates Vietnam’s leadership and governance capacity in safeguarding economic interests while maintaining balanced relations with major partners. He added that to mitigate risks arising from the international trade environment, Vietnam needs to continue seeking new markets, and diversifying its economic options to make a more complex economy and go up the value curve.

The third big challenge is technology, particularly AI, Goledzinowski added. He noticed that Vietnam is very focused on becoming a technology superpower in the future. However, this will require long-term investment in education, human resources and innovation infrastructure. To attract high-quality capital flows, Vietnam needs to continue building a transparent, fair and reliable investment environment, in which the legal system plays a central role.

The former Australian ambassador said he was impressed by Vietnam’s decision to introduce the possibility of foreign judges to sit on special tribunals to the international financial centres, describing it as an important step towards strengthening the confidence of international investors. “Confidence and trust are what will make Vietnam a successful economy as we approach the middle of the 21st century,” he noted.

Assessing the outlook for Vietnam-Australia relations, Goledzinowski said that as both countries’ roles and standing in the Asia-Pacific region continue to grow, bilateral cooperation is expected to be further strengthened across political, security and economic spheres. As Vietnam’s economy becomes increasingly complex and more deeply integrated into higher value-added segments of global value chains, the two sides will share a growing convergence of interests.

He added that areas such as education, technology, financial services, agri-technology, and the mining and processing of critical minerals are sectors in which Australia has particular strengths and which align well with Vietnam’s development needs.

On policy recommendations for Vietnam after the 14th National Party Congress, the former diplomat said: “I think Vietnam knows exactly what it needs to do.” He listed a number of development trends and encouraged Vietnam to continue on its path.

Australian partners, OVs voice strong support for 14th National Party Congress

The Communist Party of Australia (CPA), representatives of associations in Australia and Solomon Islands, and Party members of Vietnamese Party cells in Australia, have conveyed their confidence and high expectations for the 14th National Congress of the Communist Party of Vietnam (CPV) in Hanoi from January 19-25.