Vietnam Opens Door to Welcome Australian Businesses

Vietnam Opens Door to Welcome Australian Businesses

On December 12 (Local times), in Perth, the capital city of Western Australia, Chairman of National Assembly Nguyen Thi Kim Ngan attended the Vietnam-Australia Business Dialogue. This is an activity co-organized by the Ministry of Planning and Investment, the Vietnamese Embassy in Australia, the Consulate General of Vietnam in Perth and the Government of Western Australia.

Investment in Vietnam - Speaking at the opening of the dialogue, John Carey, MLA, said that "Vietnam is among the fastest-growing economies, the open economy. The relationship between Vietnam and Australia continues to grow strongly". He also emphasized that Vietnam is an attractive destination for investment, which is a fast-growing and stable economy for many years, the two sides should regularly organize visits and meetings to discuss measures to enhance cooperation, benefit the people of the two sides. The Prime Ministers of the two countries have recently agreed to upgrade the relationship to the strategic partnership.

Chairman of National Assembly, Nguyen Thi Kim Ngan highlighted Viet Nam's advantages, such as its strategic geographic position with global connectivity, stable socio-political status, proximity to 100 million people by 2020, with a golden population structure, a constantly improving investment environment, competitive input costs, improved transport infrastructure, high open economy, and large and fast growing market size. Thus, Vietnam has attracted more than US$ 313 billion of foreign direct investment (FDI) registered from 128 partners, implemented capital of over US$ 160 billion. Viet Nam has gradually become an important link in the global value chain, especially in the fields of electronics, garment industry, agriculture and aquaculture.

Holding that the potential for cooperation between the two countries is still very large, the Chairman Ngan stressed that Vietnam hoped the Australian enterprises, on the basis of their needs and strengths, will further expand investment activities, doing business with Vietnam in the fields of manufacturing, energy, infrastructure (in the form of PPP), agriculture, food processing, minerals, telecommunications, services, education, tourism, etc.

In addition, Vietnam also expects Australian enterprises to participate in the restructuring of the financial-banking system, equitization of state-owned enterprises, investing and share experience in start-up projects which is booming now.

In addition, National Assembly Chairman Nguyen Thi Kim Ngan expressed her wish that Australia and the State of Western Australia create more favorable conditions for the strength products of Vietnam, such as agricultural and aquatic products, textiles and garments, wood, rubber products, electronics, computer components, etc. At the same time, Vietnam is ready to receive more quality wheat, minerals, cotton, pharmaceuticals, industrial equipment from Australia.

National Assembly Chairman affirmed that the Vietnam National Assembly promised to promulgate policies and laws to create the most favorable conditions for foreign investors in general, including Australia investors implementing long-term investment and business in Vietnam. "Vietnam welcomes Australian businesses and is committed to working with you in the investment and business process in Vietnam" National Assembly Chairman Nguyen Thi Kim Ngan said.


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