HCMC and New South Wales hold great cooperation potential

Vice Chairman Nguyen Van Dung of the Ho Chi Minh City People's Committee said that the southern metropolis and New South Wales hold great cooperation potential.

HCMC and New South Wales hold great cooperation potential
HCMC.jfif

He made the statement while receiving a delegation from the Australian state of New South Wales led by Minister Anoulack Chanthivong for Industry and Trade.

At the meeting, Mr. Nguyen Van Dung stated that 2024 is a crucial year for Vietnam and Australia as the two countries upgraded their relationship to a Comprehensive Strategic Partnership in March 2024, opening up a framework for cooperation in many fields for businesses and people of both countries.

Mr. Nguyen Van Dung affirmed that Ho Chi Minh City desires to become a pioneer in Vietnam in implementing the Comprehensive Strategic Partnership between Vietnam and Australia and the Australian Government’s several initiatives to implement recommendations under Invested: Australia's Southeast Asia Economic Strategy to 2040 (the strategy) to increase two-way trade and investment with Vietnam and the region.

Regarding the relationship between Ho Chi Minh City and Australia, Vice Chairman Nguyen Van Dung said that two-way trade between the southern largest city and Australia reached over US$1 billion in 2023. By 2023, Australia had 309 investment projects in Ho Chi Minh City with a total capital of over $230 million ranking 19th among 122 countries and territories investing in Ho Chi Minh City. In addition, the relationship in the field of education between the two sides has also developed quite well.

Mr. Nguyen Van Dung introduced the development orientation of Ho Chi Minh City by 2030 to become a modern industrial-service city, digital economy, digital society, economic, financial, commercial, cultural, educational and scientific-technological center of the country, with a prominent position in the Southeast Asia region.

According to the Vice Chairman, the southern metropolis city is focusing on foreign investment in orientation toward high-tech projects in fields such as information technology, biotechnology, automation and clean energy sectors; projects related to the semiconductor industry and especially investment in the construction of Can Gio International Port. The city also promotes green transformation to promote economic development, improve quality of life, adapt to climate change and protect the environment.

Minister Anoulack Chanthivong expressed his joy in returning to visit Vietnam in particular and Southeast Asia in general, which is one of the most dynamically growing regions in the world and also a priority area for Australia in international relations.

According to Mr. Anoulack Chanthivong, New South Wales and Ho Chi Minh City are both important economic centers of the country and play a role as driving forces for development. With over 100,000 Australians living in HCMC and a similar number of Vietnamese Australians residing in New South Wales, they serve as bridges between the state and the city.

Mr. Anoulack Chanthivong emphasized that New South Wales, with its extensive experience in finance, digital transformation, green energy, education, and trade, is ready to collaborate and share knowledge with HCMC. Additionally, New South Wales will make efforts to enhance cultural exchange, education, tourism, and people-to-people interactions between the two countries to bring about outcomes in their bilateral relationship.

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