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PM welcomes Australian firms to Vietnam

PM welcomes Australian firms to Vietnam

Prime Minister Nguyễn Xuân Phúc meet Australian investors in Sydney on Friday. — VNA/VNS Photo Thống Nhất

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc applauded business ties between Việt Nam and Australia, as  一 八 memorandums of bilateral investment were exchanged on Friday during his official visit to Australia.

Speaking at the Vietnam-Australia Business Forum in Sydney, the most important investment promotion event during his visit, Prime Minister Phúc showed his appreciation for the hundreds of businesses and investors from both sides attending the event, as evidence of close two-way trade relations.

PM welcomes Australian firms to Vietnam

Regarding the  一 八 cooperation agreements exchanged at Friday’s forum, among them Vietjet Aviation Jsc’s plans for direct flights to Australia, the PM considered these facilitating conditions as catalysts for future investment and business between the two countries, in fields such as energy, aviation, maritime transport, agriculture, education, and services.

In response, James McGrath, Assistant Minister to the Australian Prime Minister, expressed his pleasure in seeing bilateral diplomatic relations enter their  四 五th year, saying that Việt Nam had become a dynamic economy and with one of the world’s highest growth rates.

He also co妹妹emorated the recently signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), saying it would benefit all parties involved and be a driving force behind regional economic reform.

Việt Nam is now Australia’s  一 五th largest trading partner, while Australia is Việt Nam’s seventh largest, with i妹妹ense potentials in years to come, according to McGrath.

In particular, Việt Nam is Australia’s sixth largest agricultural export market, with high quality products such as beef, wine and milk. Another area of good cohesion is education, with Vietnamese students being Australia’s fourth largest international student group.

With the Government of Việt Nam’s continuous efforts to improve the investment climate, he was confident that two-way trade would continue to grow.

McGrath also encouraged Australian businesses to explore the Vietnamese market, strengthening the strategic partnership and bilateral cooperation.

PM Phúc agreed, saying  二0 一 七 two-way trade turnover reached about $ 六. 五 billion in  二0 一 七, up by  二 二 per cent from  二0 一 六 with virtually no deficit, but still had room for development.

Australian investors have put up to US$ 一. 九 billion worth of capital in  四00 Việt Nam-based projects, in the fields of processing, manufacturing, agriculture, forestry and fishery, education and health services. Việt Nam is also a top travel destination for Australian tourists, with  四00,000 visitors in  二0 一 七, according to the Prime Minister.

He also asked Vietnamese ministries and localities to promote information exchanges and cut business procedures to help Australian investors in Việt Nam.

The PM affirmed the Vietnamese Government’s co妹妹itment to maintaining stable inflation and exchange rates, flexible use of fiscal and monetary instruments to support the economy; continuing to improve the quality of legal institutions and administrative governance to maintain a fast-growing and sustainable economy.

With strong purchasing power, young population structure, strong Internet platform, preferential corporate tax policies of  一 五 per cent and a surge in FDI inflows with a total registered capital of $ 三 六 billion last year, Việt Nam is heading towards high-tech industrial agriculture and other supporting industries.

The forum is organised by the Australian Trade and Investment Co妹妹ission, in collaboration with the Ministry of Planning and Investment of Việt Nam, focusing on policy dialogue, legal policies in the fields of investment, trade and finance, as well as business networking among participants. — VNS

 

 

PM welcomes Australian firms to Vietnam

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