PM calls for more investments from Australia amid improving business landscape

PM Nguyen Xuan Phuc (standing) meets with representatives of Australia's top businesses and investment funds in Sydney on March 16, 2018. Photo: VGP

The meeting was also attended by Deputy PM, FM Pham Binh Minh and several ministers of the two countries.

In his open remarks, Vu Tien Loc, Chairman of the Viet Nam Chamber of Commernce and Industry said the meeting is considered the first working session to deploy the fresh strategic partnership between the two countries.

He expressed his hope that all the 12 businesses and investment funds will be the pioneers in creating a new wave of Australia’s investment in Viet Nam.

Peter Warne, Chairman of Macquarie Group said his Group is interested in Viet Nam’s infrastructure area because of various reasons like the sector’s fast development pace, rising middle class and urban population.

A representative of Marshall Investments said the company has shifted part of its production to Viet Nam to save business costs in a promising market.

Speaking at the meeting, PM Phuc briefed about recent developments in Viet Nam, especially foreign indirect investment inflows and economic growth in the first quarter this year as well as the prospect of the middle class.

Last year, Viet Nam’s competitive index jumped five places to 55th out of 137 economies compared 60th out of 138 economies in 2016 while the business environment ranked 68th out of 190 economies, up 14 notches.

Viet Nam ranked 47th out of 127 economies in the Global Innovative Index, the unprecedented highest performance. 

The Government has focused on infrastructure development to spur growth and on further improving business environment to become one of the top attractive markets in ASEAN, PM Phuc said.

The Government will also continue restructuring the economy, particularly State-owned enterprises, and focus on financial market development in accordance with international standards to ensure that it operate stably, healthily, and conducively to investors.

He said that Viet Nam has joined 12 free trade agreements involving a number of partners, and most recently, Viet Nam and Australia have signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which would open up huge opportunities for investors./.

By Huong Giang