Vietnamese Business Forum in Australia

Minister of Industry and Trade Nguyen Hong Dien and Ambassador Extraordinary and Plenipotentiary of Vietnam to Australia Pham Hung Tam chaired the Forum. Also attending were representatives of leaders of units under the Ministry of Industry and Trade, diplomatic representative agencies and trade offices of Vietnam in Australia; as well as representatives of leaders of Vietnam Electricity (EVN), Vietnam National Coal and Mineral Industries Group (TKV) and other Vietnamese corporations, groups and enterprises.

*Minister of Industry and Trade Nguyen Hong Dien. Photo: Nguyen Minh*

In addition, the Forum was attended by leaders of the Vietnam Business Association in Australia, the Vietnam - Australia Logistics and Investment Association, the Melbourne Young Entrepreneurs Club, along with a large number of businessmen, intellectuals, experts, representatives of business associations, industry associations and the Vietnamese business community living, working and investing in Australia.

Vietnamese businesses have wide access to the Australian market

Speaking at the Forum, Ambassador Extraordinary and Plenipotentiary of Vietnam to Australia Pham Hung Tam said that this event demonstrates the attention of the Ministry of Industry and Trade in particular and the Government in general for the business community and overseas Vietnamese in Australia - one of the largest overseas Vietnamese business communities in the world .

*Minister of Industry and Trade Nguyen Hong Dien and Ambassador Extraordinary and Plenipotentiary of Vietnam to Australia Pham Hung Tam chaired the Forum. Photo: Nguyen Minh*

“ I think this is a very favorable opportunity for us to share our assessments of the current situation of Vietnam - Australia relations, thereby identifying and seeking opportunities for economic , trade and investment cooperation with Vietnam's partners, as well as areas that the business community in Australia may be interested in, can participate in and contribute ideas to help make the country increasingly prosperous, firmly moving into the era of growth ”, the Vietnamese Ambassador to Australia expressed.

Regarding the Vietnam-Australia relationship, Mr. Pham Hung Tam informed that it can be said that the Vietnam-Australia relationship is currently in its best development phase, especially since the two countries upgraded their relationship to Comprehensive Strategic Partnership in March 2024. The implementation of the Action Program for the period 2024 - 2027 has created a very solid framework, promoting cooperation in all fields, including economy, trade, investment and tourism.

“ Up to now, the two sides have coordinated to deploy, complete or implement on schedule 96% of the total 180 action lines of the Action Program; of which 40% are contents directly related to trade, investment and economic cooperation, ” said Ambassador Pham Hung Tam.

*Vietnamese Ambassador to Australia Pham Hung Tam speaks. Photo: Nguyen Minh*

In addition, in terms of political cooperation, the two sides maintain high trust and regularly exchange high-level delegations. Both sides agreed to strive to soon bring two-way trade turnover to 20 billion USD. More and more Vietnamese localities and enterprises are interested in investing and doing business in Australia.

In the opposite direction, the Australian Government is also promoting the implementation of the Southeast Asia Economic Strategy to 2040, as well as the Strategy to enhance economic cooperation with Vietnam - Australia.

The Ambassador believes that the current Vietnam - Australia relationship is the best ever, with the high attention of the Governments and business communities of the two countries, economic - trade - investment cooperation will continue to develop strongly in the coming time.

Also at the Forum, Mr. Nguyen Van Hoi, Director of the Institute for Strategy and Policy Research on Industry and Trade, informed about the business environment in Vietnam.

Also attending the Forum were representatives of leaders of units under the Ministry of Industry and Trade, diplomatic representative agencies and the Vietnamese Trade Office in Australia... Photo: Nguyen Minh

Accordingly, in terms of institutional environment and administrative organization, Vietnam has been promoting reform of the apparatus, arrangement of administrative units, decentralization and delegation of power to local authorities, thereby shortening the gap between state management agencies and people and businesses.

“ The two-tier local government system has 34 provincial-level administrative units, including 28 provinces and 6 centrally-run cities. The units are reorganized in a streamlined, effective and efficient manner, creating conditions for businesses to easily access competent authorities, reducing compliance costs and time for administrative procedures. This is one of the important foundations for improving the investment and business environment ,” said Director Nguyen Van Hoi.

Regarding the legal environment for business investment, in recent times, many important resolutions of the Central Committee and the Politburo have been issued to remove difficulties and barriers, linking production and business activities with state management, creating favorable conditions for domestic enterprises and foreign investors. These include resolutions on e-commerce, on the National Energy Development Strategy, on promoting industrialization and modernization, on developing science, technology and innovation, etc.

*Mr. Nguyen Van Hoi, Director of the Institute for Strategy and Policy Research on Industry and Trade, informed about the business environment in Vietnam. Photo: Nguyen Minh*

“ These resolutions are the foundation for institutionalizing them into a legal system, strategies, plans, and specific action programs, ensuring a transparent, stable, predictable investment and business environment that is consistent with Vietnam's international integration commitments, ” emphasized a representative of the Ministry of Industry and Trade.

All these reforms help make the investment and business environment in Vietnam increasingly more open and favorable for both domestic and foreign enterprises to invest, produce, and cooperate in business with Vietnam.

Vietnamese businessmen in Australia become strategic connecting force

Within the framework of the Forum, Mr. Tran Ba Phuc, Chairman of the Vietnam Business Association in Australia, said that this is a very meaningful event and is also the expectation of the Vietnamese business community in Australia. In the Vietnam - Australia trade relationship, there is a very large Vietnamese community. This is a community with very strong economic potential, oriented towards the homeland and has a great demand for Vietnamese goods.

According to Mr. Tran Ba Phuc, the Vietnamese community in Australia is growing, has an increasingly high position and has become an important intellectual business force, contributing to the host country while remaining attached to the homeland. This is a resource to strongly promote two-way trade and investment, especially when the Vietnam-Australia relationship has been upgraded to a Comprehensive Strategic Partnership.

*View of the Vietnam Business Forum in Australia. Photo: Nguyen Minh*

Sharing from the perspective of a young Vietnamese businessman who has, is, and will invest in business in Australia and Vietnam, Mr. Do Gia Thang, Chairman of the Melbourne Young Entrepreneurs Club, emphasized that young Vietnamese entrepreneurs in Australia are playing an important role in promoting two-way investment and trade.

Young entrepreneurs in Australia are well-trained, knowledgeable about both markets and retain the Vietnamese spirit, making them an effective bridge for economic cooperation. The legal framework between the two countries is quite complete, along with the active support role of the Ministry of Industry and Trade and the Vietnamese Trade Office in Australia. From the perspective of young investors, Mr. Do Gia Thang proposed strengthening an information provider and considering a sandbox mechanism to test new models, supporting young businesses to bring technology from Australia to Vietnam in the context of domestic legal standards not keeping up.

Also sharing at the Forum about the activities that businesses have been and are carrying out, Mr. Nguyen Thanh Binh, Chairman of the Vietnam - Australia Logistics and Investment Association, General Director of KQ Trading Company, said that the business is supporting many Vietnamese OCOP products to be officially exported to Australia. All activities are closely coordinated with the Vietnam Trade Office in Australia, thereby gradually expanding the list of goods that meet the technical standards of the local market. Mr. Nguyen Thanh Binh also informed of a positive signal when Vietnamese grapefruit has completed the final steps to enter the retail system in Australia, showing clear effectiveness from the support and companionship of the trade office.

*The Ministry of Industry and Trade and the Vietnam Business Association in Australia jointly organized the Vietnam Business Forum in Australia. Photo: Nguyen Minh*

Meanwhile, Mr. Do Van Long, Director of Australia Blockchain Company, said that although the young Vietnamese business community in Australia is not large, they always strive to bring Vietnamese products and achievements to the international market. Enterprises are applying new technologies such as AI and blockchain to connect trade and control traceability, meeting the very strict requirements of the Australian market and in line with the two countries' orientation on quality transparency.

“ The traceability solution developed by the company has been applied to thousands of products, won many awards and is strongly supporting both exports and imports. Technology is the key to protecting consumers, enhancing Vietnamese brands and promoting two-way trade, ” said Mr. Do Van Long. At the same time, he hopes to have more connections with investors and policy support from the authorities of the two countries so that Vietnamese technology solutions can go further.

Concluding the Forum, Minister of Industry and Trade Nguyen Hong Dien said that the opinions not only reflected business practices in the Australian market; thoughts, aspirations and proposals and recommendations to enhance the role and position of Vietnamese enterprises in Australia; but also recommended mechanisms and policies to strengthen ties with domestic enterprises and contribute to Vietnam's economic development.

The Minister emphasized that through the Forum, we further affirmed that the overseas Vietnamese community in Australia with more than 370,000 people and thousands of Vietnamese businessmen is an important bridge, a great resource, a strategy for the country's development and a cooperation strategy between the two countries.

“ You are not only successful businessmen, but also Vietnamese people with the desire to contribute to the host country and to the homeland, Vietnam. I believe that, with the spirit of solidarity, creativity and responsibility, we will turn the ideas shared and discussed today into practical results, contributing to the realization of Vietnam's socio-economic growth target by 2030, with a vision to 2045, ” Minister Nguyen Hong Dien expressed.

The Vietnam Business Forum in Australia is a bridge to promote economic, trade and investment cooperation between Vietnam and Australia, while recognizing the growing role of the Vietnamese business community in Australia in connecting markets, transferring technology and contributing to the development of the homeland.

Source: https://congthuong.vn/dien-dan-doanh-nhan-viet-nam-tai-australia-431053.html