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NA Chairwoman: Vietnam pledges to create best business environment

Released at: 16:09, 02/12/2017

NA Chairwoman: Vietnam pledges to create best business environment

At the Vietnam-Australia Business Dialogue (Source: VNA)

Ms. Nguyen Thi Kim Ngan attends Vietnam-Australia Business Dialogue on December 1 in Perth, Australia.

by Long Van

Speaking at the Vietnam-Australia Business Dialogue in Perth, Western Australia, on December 1, National Assembly Chairwoman Nguyen Thi Kim Ngan, who is paying an official visit to Australia from November 29 to December 2, said that Vietnam has fully opened its doors and will stand together with Australian enterprises when they conduct business and invest in the country, according to a report from the Vietnam News Agency.

Ms. Ngan noted that Vietnam’s population will be 100 million people by 2020 with an improved business climate, better transport infrastructure, and increased purchasing power. It has attracted over $313 billion in foreign direct investment (FDI) from 128 countries and territories and has gradually become an important link in global value chains, especially in electronics, apparel, agriculture, and fisheries.

Vietnam is committed to creating the best business environment in accordance with the standards of Organization for Economic Cooperation and Development (OECD) countries and continues to improve its economic competitiveness and refine its legal framework, as has been recognized by international organizations, she said, adding that the NA pledges to provide all possible support for Australia investors.

While hailing the huge potential for bilateral cooperation, the senior legislator said that Vietnam wants Australian firms to further expand business operations in the fields of manufacturing, energy, infrastructure, agriculture, food processing, mineral resources, telecommunications, services, education, and tourism.

Vietnam also expects Australian businesses to participate in restructuring the banking and finance sector, the equitization of State-owned enterprises, and in the country’s startups, Ms. Ngan said.

She expressed her wish that Australia, and Western Australia in particular, would make it easier for Vietnamese products such as agriculture-aquatic products, garments, wooden furniture, rubber, and electronic products and computer components to enter the country.

Vietnam is willing to import wheat, mineral resources, cotton, pharmaceuticals, and modern industrial equipment from Australia, she added.

In his speech, Parliamentary Secretary to the Premier of Western Australia and Minister for Public Sector Management, State Development, Jobs and Trade, Mr. John Carey, said that Vietnam is one of the Asian countries that Western Australia has given priority to developing ties with, adding that Vietnamese is the third most common language in the state.

State authorities, he went on, are pleased with Vietnam’s selection of Perth for its second Consulate General and have decided to establish a business advisory council between the two sides.

Mr. Carey said Western Australia hopes to foster ties with Vietnam on the back of exchanges between their people and administrations, with a focus placed on education, trade, and investment. Vietnam has the sixth-largest number of students in Western Australia, while two-way trade neared $1.2 billion in 2015-2016, he said.

He suggested the exchange of regular visits to discuss measures to enhance bilateral ties, thereby bringing more benefits to the two peoples.

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