Meeting participants introduced the two countries’ digital economy, emerging technologies, trends, and potential in AI and blockchain, cybersecurity, sustainable development, and education.

Jonathan Saw, Australia’s Trade & Investment Commissioner Designate in Vietnam, said that Vietnam’s digital economy is projected to be worth between 180 to 300 billion Australian dollars. Vietnam also has the fastest growing digital growth rate in Southeast Asia and that's expected to continue to 2025.

“Australian tech companies obviously have a significant role to play in fulfilling Vietnam's ambitions for increased digitization across the economy. Opportunities in Vietnam obviously are plenty and, I think, Australia-Vietnam would be well placed to collaborate in some of the areas that I think we're very complimentary - cyber security, fintech, agri tech, edtech, and smart cities, as well as ICT infrastructure,” said Saw.

“DigiFrontiers” created an opportunity for the two business communities to seek opportunities for future cooperation.

As part of the event, the Blockchain Associations of Vietnam and Australia signed a Memorandum of Understanding (MoU).

Hoang Minh Loi, Deputy Director in charge of financial technology application of the Vietnam Blockchain Association said Australia is strong in the fintech sector, taking Australian banks, especially large banks such as CPA and NAB, for example, that are using the 'Crypto XITnetwork' in cross-border money transfers.

“This is a major breakthrough in the use of blockchain technology. So I hope Australia will help Vietnamese businesses access blockchain technologies which are deployed in Australia in such areas as small business investment and financial management,” said Loi.

Digital technology is an area of cooperation within the framework of Vietnam’s Comprehensive Strategic Partnership with Australia and the “DigiFrontiers Forum”.