Australian Embassy
Vietnam

Speech110331 SPEECH AT THE VIETNAM COOPERATION INDEX 1995-2009 LAUNCH

Speech by HE Mr Allaster Cox, Australian Ambassador to Vietnam, at the Vietnam Cooperation Index 1995 - 2009 Launch

  • His Excellency, the Standing Vice Minister for Trade and Industry, Prof Dr Le Danh Vinh

  • Colleague Ambassadors

  • Officials of the Ministry of Industry and Trade and other Government Agencies

  • Distinguished guests, ladies and gentlemen

I am very pleased to be here to today to help launch the Vietnam Cooperation Index 1995-2009 (VCI).

This index has been an activity under the support of the Beyond WTO program, a joint initiative of Australian Government and the UK.

Beyond WTO, now in its second phase, is a multi-sectoral program that works across key Ministries to support market reforms critical to Vietnam’s ability to take full advantage of its ongoing integration into the international economy.

I would first like to congratulate the National Committee for International Economic Cooperation (NCIEC) for their effort and close collaboration with the relevant bodies in Vietnam and beyond in preparing this first VCI report.

Based on the data on trade in goods, investment, tourism, education and official development aid (ODA), the VCI report provides a comprehensive assessement, in quantifiable form, on the cooperation level between Viet Nam and strategic partners, including: ASEAN, EU, China, Republic of Korea, Japan, Australia, New Zealand, Canada and U.S for the period from 1995 to 2009.

It highlights the extent of Vietnam’s successful integration into the global economic community.

In particular, I would like to thank Asialink and Melbourne University, notably, Asialink CEO Jenny McGregor who have played a key role in working with the project team and local experts over the last year to help develop the first VCI. I know the development of this Index has required many difficult conceptual, data collection and analytical issues and the partnership between the project team and Asialink has been critical in addressing many of these. Asialink’s experience in compiling the PriceWaterhouse Coopers, Melbourne Institute Asialink Index inaugurated in 2008 was instrumental in this.

Ladies and Gentlemen,

Vietnam’s poverty reduction success since the late 1980’s has been founded on the effective use of ODA, an openness to trade and foreign investment through developing its policy framework together with entering and implementing a great number of deal of important international trade agreements.

The VCI report highlights the gains from this strong record of reform to date. It was in recognition of this progress that Australia as part of the AANZFTA recognised Vietnam as a market economy in 2009.

Today, Vietnam faces a renewed challenge of reform as it embarks on the next phase of development toward industrialisation by 2020. To make the breakthroughs from low-middle income status today to the the mid- level of that status over the 10 years and beyond will require tough economic and policy choices. The Government of Vietnam has rightly identified the priorities in infrastructure, skills development and governance needed to make that transition.

But hard choices and decisions lie ahead.

The Australian Government through the BWTO Phase 2 and other programs stands ready to assist Vietnam to make the right choices for future growth.

I hope that the VCI report will be seen as a useful document for investors, enterprises, policy makers and researchers in Vietnam and overseas to access reliable information and analysis on significant milestones of Vietnam’s integration progress with the region and the world.

Thank you