Vietnam treasures strategic partnership with Australia

Deputy Prime Minister Trinh Dinh Dung (R) meets with Australian Ambassador to Vietnam Robyn Mudie (Photo:VNA)

Last year’s bilateral trade hit US$7.7 billion, up 19.3% from 2017, including close to US$4 billion from Vietnam’s exports and over US$3.7 billion from its imports.

Australia now has 425 investment projects worth more than US$1.84 billion in the Southeast Asian nation, ranking 19th among the 128 foreign investors. Meanwhile, Vietnam has injected US$255.8 million into 47 projects in Australia, Dung said.

The official was appreciative of Australia’s non-refundable official development assistance for different essential infrastructure projects in Vietnam, many of which have become symbols of bilateral cooperation like Cao Lanh and My Thuan bridges.

The Deputy PM urged Australian businesses to invest in the fields Vietnam has demand in like agriculture, supporting industries, tourism and renewable energy and asked the ambassador to further promote mutual exchange visits between senior leaders, localities and businesses of both sides, especially economic and trade partnerships.

He suggested both sides should make greater efforts to elevate their trade to US$10 billion in 2020 and become one of the top 10 trading partners of each other.

Dung also thanked Australia for supporting Vietnam at international forums, voicing his hope for Australia’s closer coordination when Vietnam serves as a non-permanent member of the United Nations Security Council for 2020-2021 and ASEAN Chair in 2020.

For her part, Mudie expressed her honour to serve as stint as ambassador amid the flourishing bilateral ties.

She told her host that Australian investors are impressed with the investment and business facilitation policies given by the Vietnamese Government, which will incentivize both sides’ enterprises to expand investment and business activities in each other’s markets.