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Tuesday, June 2 2020
Tiếng Việt
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Date 10/02/2017-16:47:00 PM
Deputy Minister Nguyen The Phuong works with Deputy Minister of Foreign Affairs and Trade of Australia
(MPI) – On February 8th 2017, at the headquarters of the MPI, Deputy Minister Nguyen The Phuong had a meeting with Deputy Minister of Foreign Affairs and Trade of Australia Philip Green.

Deputy Minister Nguyen The Phuong and his Australian counterpart Philip Green at the meeting.
Photo: Minh Trang (MPI)

Speaking at the meeting, Deputy Minister Nguyen The Phuong assessed that Vietnam – Australia cooperation has been developing well. Up to date, Australia has invested 392 projects in Vietnam with total registered capital of over US$ 1.8 billion, ranking 19th out of 116 nations and territories investing in Vietnam, focusing on manufacturing and processing industry, health, agriculture and forestry… In 2016, two-way trade turnover was nearly US$ 5 billion, including US$ 2.9 billion of export turnover to Australia and US$ 2.1 billion of import turnover from Australia. This is an important partner of Vietnam in Asia – Pacific region.

Regarding socio-economic development situation of Vietnam, Deputy Minister Nguyen The Phuong said that GDP per capita was approximately US$ 2.200 in 2016 and GDP obtained more than US$ 200 billion. Vietnam has faced many difficulties and challenges in 2016 due to the complicated weather, affecting to agricultural production. However, by the right and timely direction of all levels, branches and effective deployment of localities, GDP growth was 6.21% in 2016. Achievements of socio-economic development after 30 years of innovation have confirmed the dynamism of Vietnam’s economy, the rightness and drastic of reforming and restructuring public investment, finance, banking…

Vietnam will graduate ODA recipient in July 2017, borrows from high concessional resource IDA of the World Bank no longer. So Vietnam has been negotiating with bilateral, multilateral partners and international finance organizations on transition. The Vietnamese Deputy Minister desired Australia to continue supporting Vietnam in development of transportation infrastructure (highways, railways, airports, seaports…), energy, high-tech agriculture, cope with climate change, high quality human resources…

The Australian Deputy Minister of Foreign Affairs and Trade assessed that diplomatic relations plays an important role in bilateral development cooperation prospects and expressed the attention to investment trade cooperation priority in Vietnam and Southeast Asia. Donor – aid recipient relations before helped Vietnam to gain significant socio-economic development achievements. Vietnam is a middle-income country now, so the relationship with other regional and international countries will be more equal, become economic partners…

Therefore, the two sides agreed to develop collaborative program meeting demands of Vietnam, basing on advantages of Australia and committed to closely cooperate in order to accelerate process of approval and further improve quality and effectiveness of Vietnam – Australia cooperation./.

Nguyen Huong
Ministry of Planning and Investment

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