On the afternoon of March 5, 2024, on the sidelines of the Special Summit to celebrate the 50th anniversary of ASEAN-Australia relations and the official visit to Australia by Prime Minister Pham Minh Chinh, Minister of Industry and Trade Nguyen Hong Dien had a bilateral working session with Australian Minister for Climate Change and Energy Chris Bowen.
At the meeting, the two Ministers shared that the two countries have and are having a lot of potential for cooperation in the energy sector, especially renewable energy.
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| Minister of Industry and Trade Nguyen Hong Dien had a bilateral working session with Australian Minister for Climate Change and Energy Chris Bowen. |
Minister Chris Bowen emphasized the role of offshore wind power, Australia's strengths in providing fuels such as coal, gas, and LNG for electricity production, and emphasized the two countries' new cooperation goals towards a comprehensive strategic partnership framework.
Appreciating the warm welcome from Australia in general and the interest of Australian businesses in the Vietnamese market in particular, demonstrated through the Business Forum held on the same day, Minister Nguyen Hong Dien highlighted Vietnam's strengths in population, large energy demand, natural advantages for solar and wind energy production... as very potential investment cooperation opportunities in the energy sector for Australian businesses.
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| Vietnam's population, large energy demand, natural advantages for producing solar and wind energy... are very potential investment cooperation opportunities in the energy sector for Australian businesses - Minister Nguyen Hong Dien informed. |
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| Minister Nguyen Hong Dien hopes that Australia will cooperate with Vietnam in mineral exploitation and processing, investment in production and human resource training in the field of renewable energy. |
With Australia's financial, technological and experience strengths in this field, Vietnam hopes that Australia will cooperate with Vietnam in mineral exploitation and processing, investment in production and human resource training in the field of renewable energy... with the motto of mutual benefit and support for Vietnam in achieving the goal of energy transition, Net Zero by 2050.
At the end of the working session, Minister Nguyen Hong Dien emphasized: The Memorandum of Understanding on establishing a ministerial-level dialogue mechanism on energy and minerals, which will be signed and exchanged in the presence of the two Prime Ministers , will be an important cooperation mechanism in the energy sector.
With this mechanism, the two sides will have many opportunities to exchange and promote stronger cooperation in the fields of energy and minerals, and at the same time, it will be the basis for Australia to continue to be a partner in providing important and sustainable materials such as coal and LNG for the electricity, energy and fertilizer production sectors in Vietnam.
The Special Summit to celebrate 50 years of ASEAN-Australia relations was held in Melbourne, Australia from March 5-6 with the participation of leaders of ASEAN countries, Australia and the ASEAN Secretary-General. The Prime Minister of Timor Leste was invited to attend this summit as an observer.
The conference, themed “Partnership for the Future”, is being held in the context of dynamic cooperation between ASEAN and Australia in many areas. This is an opportunity for the two sides to review the past 50 years of relations and discuss measures to promote substantive and effective development of relations, in line with the framework of the Comprehensive Strategic Partnership established in 2021.
Within the framework of the Conference, on the morning of March 5, 2024, Prime Minister Pham Minh Chinh attended the Vietnam-Australia Business Forum. Speaking at the Forum, the Prime Minister happily announced that during this visit, the two sides are expected to announce the upgrading of bilateral relations, increasingly deepening, becoming more substantive and effective.
The Prime Minister expressed his hope and expectation for “5 more things” when the bilateral relationship is upgraded: Better political trust, higher economic-trade and investment cooperation, stronger science-technology and innovation cooperation, deeper education and training cooperation, cultural and people-to-people exchanges, and stronger tourism and labor cooperation.
The Prime Minister affirmed that the two governments will continue to create favorable conditions for this cooperation. The Vietnamese government will protect the legitimate rights and interests of businesses and investors; continue to promote three strategic breakthroughs (institutions, infrastructure and human resources), reform and simplify administrative procedures, and cut costs for investors. The Prime Minister asked Australia to support Vietnam in the three strategic breakthroughs mentioned above.
Right before the Vietnam-Australia Business Forum, early in the morning of March 5, Minister of Industry and Trade Nguyen Hong Dien met and worked with a number of large businesses and investors in Australia interested in investing in the industrial and commercial sectors in Vietnam such as: Mr. Manny Stul, Moose Toys Company; Mr. Jony Davis - Unified Investment Fund; Mr. Julius Wei - BMYG Investment Fund...
Minister Nguyen Hong Dien introduced some potentials and strengths in investment and development of industry and trade in Vietnam, especially in the context of Vietnam's deep international economic integration and will upgrade the partnership between the two countries during the visit of Prime Minister Pham Minh Chinh.
The Minister emphasized a number of issues regarding energy conversion, implementation of the 8th Power Plan, investment in developing power sources and transmission systems; along with a market of nearly 100 million people... Enterprises can come to Vietnam to learn about and participate in investing in many specific projects. The Ministry of Industry and Trade always welcomes, accompanies and supports enterprises...
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