PM Nguyen Tan Dung meets with Australian Governor General

Prime Minister Nguyen Tan Dung met with the Governor General of Australia, Peter Cosgrove, in Sydney on March 17 during his official visit to the country.

The Vietnamese PM used the occasion to emphasise Vietnam’s consistent policy of intensifying the comprehensive partnership with Australia. He also welcomed Australia’s policy of enhancing ties with Indo-Pacific countries, including Vietnam.

The two leaders hailed the development of the friendship and cooperation between the two countries across many fields, particularly since the establishment of a formal bilateral comprehensive partnership in 2009.

The Australian Governor General said he believes the visit by PM Dung, which came at the invitation of Australian Prime Minister Tony Abbott, will help create a new momentum in the two countries’ developing partnership.

He added that the strong growth of bilateral ties, especially in the economic-commercial fields, and the similarities in viewpoint regarding regional security-political issues demonstrate that the Vietnam-Australia comprehensive partnership has deepened and grown increasingly stable, sustainable and mutually trusting.

Cosgrove said that as a veteran of the Vietnam War who has made two subsequent trips to Vietnam, he is deeply impressed by the achievements and positive changes in the Southeast Asian country, as well as the hospitality of the Vietnamese people.

PM Dung conveyed an invitation to Vietnam from President Truong Tan Sang to Cosgrove, with the latter accepting with pleasure.

The same day, the Vietnamese PM took part in a meeting with the Governor of New South Wales, David Hurley.

The PM underlined New South Wales’ advantage in expanding ties with Vietnamese localities, as there is now a direct air service between Sydney and Ho Chi Minh City. He suggested the state authorities facilitate business cooperation between the two countries and assist Vietnamese firms in seeking investment opportunities and selling commodities in the state, and across the rest of Australia.

Governor Hurley said the visit by PM Dung marked the start of a new period for cooperation between New South Wales and Vietnam. He promised to facilitate connections between the business communities of the state and Vietnam for their mutual benefit.

PM talks to Australian businesses

Prime Minister Nguyen Tan Dung held a dialogue with hundreds of Vietnamese and Australian business representatives in Sydney on March 17, committing all possible support to them in accordance with the law.

The Government of Vietnam will continue running the market economy in a way that ensures fair, open and transparent competition between domestic and foreign businesses, he assured participants.

The PM reiterated Vietnam’s commitment to integrate into the world economy by fully delivering on its World Trade Organisation commitments and other bilateral and multilateral free trade agreements (FTAs).

With eight FTAs already in effect and others under discussion, a legal business framework in line with international practices is taking effect Vietnam, the leader emphasised.

He updated attendees on Vietnam’s focused efforts in three strategic areas to facilitate investment, including fine-tuning market economy regulations, ramping up infrastructure and training a high-quality workforce.

The country is also working hard to sustain socio-political stability, protect the legitimate rights and interests of investors at home and abroad, continuously refine the law-governed State and uphold citizens’ rights to freedom and democracy politically and economically, viewing it as a goal and motivation for sustainable economic growth.

From its humble beginnings as an underdeveloped country, Vietnam has grown into a middle-income and vibrant economy with nearly 6 percent growth in 2014, partly driven by 300 billion USD in 18,000 projects from over 100 countries and territories worldwide. More than 100 high-profile conglomerates have also been present in Vietnam.

On the occasion, the PM answered questions regarding the deepening of the Vietnam-Australia comprehensive partnership, primarily in competitive edge areas such as mining, energy, chemicals, agriculture, finance-banking, education, and high-quality services.

He made it clear that the Government backs Australian firms in Vietnam’s economic restructuring process, particularly in the Australian strength of energy, telecommunications infrastructure, education-training, sustainable agriculture and finance.

Regarding bad debt trading, he said Vietnam highly encourages investors to join the market, especially purchasing debts in real estate or business projects, given that many investors yielded positive outcomes.

The goal is to bring the rate of non-performing loans in commercial banks to below 3 percent from the current 5 percent, he added.

At the end of the dialogue, Vietnamese and Australian firms reached a number of deals in workforce training, container export, farming materials supply and farm produce trading.

The firms wished the two governments work out a concrete action plan to foster the bilateral comprehensive partnership and open up new businesses opportunities.

PM visits overseas Vietnamese in Australia

Prime Minister Nguyen Tan Dung has a meeting with the overseas Vietnamese (OV) community in Sydney, Australia on March 17 during his on-going visit to the country.

Conveying his best wishes to the OVs, the PM hailed the increasingly effective and practical friendship between the two nations.

Australia is now one of Vietnam’s major partners and investors, bearing fruits in culture, education, science and technology, he said.

The visit aims to strengthen and deepen the countries’ comprehensive partnership established in 2009 and bring about practical mutual benefits, the PM said.

The Prime Minister expressed his pleasure with the OV community’s prosperity and contributions to social activities in their host country as well as to the socio-economic and cultural development in the homeland.

He said he hopes that the community will build upon its positive momentum, serving as a bridge between the two countries and fostering the growing friendship between Vietnam and Australia.

VNA