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Perth USAsia: Vietnam experiences impressive growth

  • 26 August 2022
  • Author: vembassy
  • Number of views: 132
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Perth USAsia: Vietnam experiences impressive growth
(VOVWORLD) - A report recently released by Australia’s Perth USAsia Centre points out some factors that make Vietnam an increasingly desirable partner for Australia and other countries.



My Thuan bridge linking Tien river on 1A Highway, linking Tien Giang and Vinh Long province (Photo: An Hieu/ VNA)

The report, entitled “Engaging a proactive Vietnam: A pragmatic economic agenda for Australia”, says the size of Vietnam’s economy and its effective response to COVID-19 make it one of Southeast Asia’s most dynamic nations. Its stable political environment, its well-trained and still relatively cheap labor force, and its favorable foreign investment policies make Vietnam a preferred option. According to the report, Vietnam’s international role has been increasingly active and consequential within the ASEAN framework and in regional and global forums.

Regarding Australia-Vietnam relations, the report said Australia is a valued partner of Vietnam. Most importantly, there has been a recognition by the two countries of mutual strategic importance and their ties were elevated to a strategic partnership in 2018.

Australia has an opportunity to demonstrate its value as a bilateral partner by re-prioritising its economic engagement strategy to respond to Vietnam’s current challenges in energy, supply chains, and food security, and by boosting cooperation in digital transformation and education.


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