Australia renews commitment to support Vietnam’s economic reform
The Australian Government and the Vietnamese MIP jointly launched Aus4Reform – a four-year long programme to boost the productivity and competitiveness of Vietnam’s economy, in Hanoi on December 13.
Australian Ambassador Craig Chittick speaks at the event (Source: courtesy of Australian Embassy in Vietnam)
Hanoi (VNA) - The Australian Government and the Vietnamese Ministry of Planning andInvestment jointly launched Aus4Reform – a four-year long programme to boost theproductivity and competitiveness of Vietnam’s economy, in Hanoi on December 13.
The 6.5 million AUD programme willsupport the Government of Vietnam to achieve its targets for improving thebusiness environment and move Vietnam towards a more market-based economy through assisting the development and implementation of economic policies, laws andinstitutions critical to helping Vietnam’s economy meet its potential.
Theinitiative will also build linkages between Australian and Vietnamese institutionsto share expertise and experience.
Australian Ambassador Craig Chittick said Vietnam has a long history ofpursuing economic reform and Australia is proud to have offered our supportthroughout this process. “Economic reform is tough, but Australia will continue to support Vietnam onthis journey,” he said.
Australia’s support will help Vietnam achieve its goal of one million new formal private enterprises by 2020, increase thepercentage of women-led enterprises and accelerate the growth in private sectoremployment.
Aus4Reform brings together Vietnam’sleading think-tanks and government agencies responsible for economic policymaking and implementation, including the Central Institute of EconomicManagement (CIEM), Vietnam Competition and Consumer Agency (VCCA), theInstitute of Policy and Strategy for Agriculture and Rural Development (IPSARD), Vietnam Chamber of Commerce and Industry (VCCI), the Party Central Committee's EconomicCommission and the Economic Committee of the National Assembly.
The programme builds on the reform momentum achieved through previous Australia supportincluding “Beyond WTO” and “Restructuring for a more CompetitiveVietnam”.-VNA
Deputy Prime Minister Truong Hoa Binh called for Australian and Vietnamese businesses to foster their trade and investment partnership, at a meeting with an Australian delegation on June 12.
Tay Bac (Northwest) University and the Aus4Skills, an Australian programme supporting Vietnam’s human resources development, signed a cooperation agreement on August 29.
Australian President of the Senate Stephen Parry has expressed his delight at the strong development in the Vietnam-Australia relations in recent years, laying a solid ground for the two sides to upgrade their ties in the future.
Vietnam and Australia issued a joint press release on the outcomes of the talks between Prime Minister Nguyen Xuan Phuc and Prime Minister Malcolm Turnbull in Da Nang city on November 10.
The National Assembly (NA) and Government of Vietnam always support and create favourable conditions for Vietnamese and Australian friendship organisations to increase activities.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Australian Ambassador Craig Chittick speaks at the event (Source: courtesy of Australian Embassy in Vietnam) 
