Australia renews commitment to support Vietnam’s economic reform

The 6.5 million AUD program will support the Government of Vietnam to achieve its targets for improving the business environment and move Vietnam towards a more market-based economy through assisting the development and implementation of economic policies, laws and institutions critical to helping Vietnam’s economy meet its potential.

The initiative will also build linkages between Australian and Vietnamese institutions to share expertise and experience.

Australian Ambassador HE Mr Craig Chittick addressing the seminar

Australian Ambassador Craig Chittick said Vietnam has a long history of pursuing economic reform and Australia is proud to have offered our support throughout this process. “Economic reform is tough, but Australia will continue to support Vietnam on this journey,” he said.

Australia’s support will help Vietnam achieve its goal of one million new formal private enterprises by 2020, increase the percentage of women-led enterprises and accelerate the growth in private sector employment.

Mr. Nguyen Van Hieu, Deputy Minister of Planning and Investment speaking at the event

Aus4Reform brings together Vietnam’s leading think-tanks and government agencies responsible for economic policy making and implementation, including the Central Institute of Economic Management (CIEM), Vietnam Competition and Consumer Agency (VCCA), the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD), Vietnam Chamber of Commerce and Industry (VCCI), the Party Central Committee's Economic Commission and the Economic Committee of the National Assembly.

The program builds on the reform momentum achieved through previous Australia support including “Beyond WTO” and “Restructuring for a more Competitive Vietnam”.

Reported by Binh Chau-Thu Nguyen