Viet Nam-Australia Business Forum held in Melbourne- Ảnh 1.
Prime Minister Pham Minh Chinh attends the Viet Nam-Australia Business Forum, Melbourne, March 5, 2024 - Photo: VGP

The Vietnamese leader is currently in Australia to attend the ASEAN-Australia Special Summit and then pay an official visit to this country.

Addressing the forum, Pham said, during his official visit to Australia, the two countries planned to announce the upgrade of the bilateral relations.

The upgrade of the ties is expected to further foster political trust and cooperation in various fields like economy, trade and investment, science-technology and innovation, education, training, culture, people-to-people exchanges, and tourism and labor, he noted.

Pham called on businesses, business associations and investors of the two countries to further promote cooperation, asserting that the two governments will continue to create favorable conditions for their partnership.

The Vietnamese Government will continue three strategic breakthroughs in terms of institutions, infrastructure and human resources, simplify administrative procedures and cut costs for investors, he said, proposing the Australian side to assist Viet Nam in these fields.

The Prime Minister suggested that the two sides optimize traditional growth motivations of investment, export and consumption while collaborating in promoting new driving forces such as digital transformation, green transition, circular economy, knowledge-based economy and sharing economy on the foundation of innovation, science and technology.

The two countries should also boost tourism and education cooperation as well as people-to-people exchanges, Pham said.

Australia has invested in 630 projects with combined registered capital of US$2.03 billion in Viet Nam, becoming the 20th largest investor among 145 countries and territories pumping money into in the Southeast Asian country. Meanwhile, Viet Nam has invested in 90 projects worth over US$550 million in Australia.

In 2023, two-way trade reached about US$14 billion, turning Viet Nam and Australia into each other's top 10 largest trading partners.

The business forum drew the participation of leaders from nearly 200 enterprises of Viet Nam and Australia./.