Building a bridge of common prosperity between Vietnam and Australia

On September 26, in Hanoi, the University of Economics (Vietnam National University, Hanoi) organized the Vietnam - Australia Economic Forum: Building a bridge for common prosperity, in a direct and online format with a number of connecting points in Australia. The event is a place for academic exchange, creating a space for multi-dimensional and open dialogue, demonstrating the determination of the two countries in deepening the Vietnam - Australia Comprehensive Strategic Partnership, bringing practical benefits to the people of the two countries.

Deputy Head of the Central Policy and Strategy Committee Nguyen Duc Hien delivered the opening speech at the Forum.

At the Forum, Mr. Nguyen Duc Hien, Deputy Head of the Central Policy and Strategy Committee, highly appreciated the University of Economics (Vietnam National University, Hanoi) for being a pioneer in organizing international forums and contributing important policy advice to the country's socio-economic development.

Mr. Nguyen Duc Hien commented that in the context of the volatile global economy, Vietnam continues to maintain a positive growth rate. In 2024, Vietnam's GDP growth rate will reach a high of 7.09%, among the leading groups in ASEAN and Asia; affirming that Vietnam is a safe and attractive destination for international investors. This is a solid foundation for expanding cooperation with Australia - a strategic partner with strong potential and leading prestige in the region.

By the beginning of this year, Australia was among the leading countries in direct investment in Vietnam with 670 investment projects, totaling 1.863 billion USD, providing 3 billion Australian dollars (AUD) in official development assistance (ODA) over the past 50 years. Bilateral trade turnover reached 14 billion USD in 2024. Currently, Australia is Vietnam's 9th largest trading partner, while Vietnam ranks 10th among its largest partners. These figures show the great potential for cooperation between the two countries, especially in the fields of trade, investment, education and science and technology.

The two countries can jointly implement research, development and technology transfer projects, promote two-way trade, and expand cooperation in new areas such as digital transformation, energy transition and climate change response. This cooperation will not only promote economic growth but also contribute to solving global challenges, promoting peace , stability and shared prosperity.

“It is necessary to emphasize the building of trust and mutual understanding through cultural and educational exchanges. The increasing number of scholarship programs, research cooperation and student exchanges between the two countries is a vivid demonstration of trust and long-term commitment, creating a solid foundation for sustainable economic and social cooperation,” said Mr. Nguyen Duc Hien.

In the coming time, the two countries need to focus on building and implementing specific cooperation programs with clear goals, practical actions and measurable results. This process requires flexibility and the ability to adapt to global fluctuations, based on the principles of equality, mutual benefit and mutual respect. From there, the two sides proposed breakthrough and substantive solutions, contributing to continuing the success story of Vietnam - Australia relations in the 21st century, bringing benefits to the people of the two countries, the region and the world.

Australian Deputy Ambassador to Vietnam Renee Deschamps shared about the cooperation in education and training between the two countries.

Appreciating the Forum Organizing Committee for gathering experts at the event, Australian Deputy Ambassador to Vietnam Renee Deschamps emphasized that the Forum's theme: "Building bridges for shared prosperity" clearly demonstrates the spirit of cooperation between Australia and Vietnam. The Vietnam - Australia relationship is built on the foundation of connecting the two peoples, trust and common interests, and cooperation in economic development of the two countries as well as the region to ensure common prosperity. The establishment of a comprehensive strategic partnership between the two countries demonstrates strategic trust and commitment to long-term, comprehensive cooperation in many important areas; including areas such as digital transformation, increasing resilience to climate change, clean energy, innovation and education.

Associate Professor, Dr. Dao Thanh Truong, Vice President of Hanoi National University, spoke at the Forum.

Sharing at the Forum, Associate Professor, Dr. Dao Thanh Truong, Vice President of Hanoi National University affirmed that the Forum is a clear demonstration of the positive contributions of the University of Economics and Hanoi National University in implementing breakthrough research in line with global trends. With the participation of leading experts, the Forum provides important arguments for the process of planning and evaluating national policies, especially in the development of foreign-invested economic sectors in Vietnam, including Australia. This is an important step forward, helping Vietnam integrate more deeply into the regional and global economy, shaping a sustainable development future that meets the strict requirements of the digital age.

According to Associate Professor, Dr. Dao Thanh Truong, more than 80,000 Vietnamese students have been studying in Australia and more than 200 educational institutions of the two countries have participated in diverse cooperation. Universities of Vietnam and Australia have conducted more than 5,000 joint research projects.

In the context of the global economy shifting strongly towards digitalization, green and sustainability, both Vietnam and Australia are facing new opportunities and challenges. Vietnam has advantages in terms of young workforce, competitive costs, strategic geographical location in Southeast Asia; while Australia possesses advanced technology, high-quality education system and management capacity of a developed economy. This complementarity creates a solid foundation for a deep, effective and sustainable partnership, enhancing the position of the two countries in the region and in the international arena.

The achievements could not have been achieved without the contributions of the business community, organizations and individuals at home and abroad who have made efforts to promote Vietnam-Australia cooperation. It is this persistence that has turned commitments into concrete results, taking the bilateral relationship further.

Overview of the Forum. Photo: Thu Phuong/VNA

As a leading higher education institution in Vietnam, ranked in the group of 401-600 best universities in the world according to Times Higher Education rankings, Hanoi National University is committed to promoting the internationalization of education, connecting Vietnam more deeply with the world, including Australia. This is not only a step to enhance the prestige of Vietnamese education in the international arena, but also opens up opportunities for multi-dimensional cooperation in training, research, and knowledge transfer, aiming to build an education system that meets international standards.

At the Forum, delegates discussed and agreed on the importance of linking policy, business and university, and proposed feasible solutions to realize common priorities, from digital trade, innovation, sustainable development to training high-quality human resources.

Source: https://baotintuc.vn/thoi-su/xay-dung-cau-noi-thinh-vuong-chung-viet-nam-australia-20250926151306605.htm