Le Hong Minh, Director of Vietrade’s Investment Promotion Centre for Industry and Trade (photo: VOV)

The event was jointly organised by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT)  in coordination with the Consulate General of Vietnam and the Vietnam Trade Office in Sydney as part of activities to mark the 50th anniversary of bilateral diplomatic ties.

Le Hong Minh, Director of Vietrade’s Investment Promotion Centre for Industry and Trade, Vietnam and Australia have complementary economies as the former boasts an abundant labour force while the latter is rich in resources, with a high level of technology, especially in education. Last year Australia was Vietnam's 7th largest trading partner, with bilateral trade reaching 15.7 billion USD. With such potential, the bilateral will grow 5-10% next year, Minh forecast. Addressing the event, Francis Wong, chairman of the South Australia - Vietnam Business Council said that Vietnam's economy is growing well despite the impact of the COVID-19 pandemic. Many Australian companies are considering Vietnam a hub of ASEAN and the Asian region, a destination for their investments and partnerships.