Forum enhanced relation between Vietnamese and Australian businesses.

In his speech, Adam Giles, Chief Minister of the Northern Territory praised Vietnamese partners’ efforts in hosting the forum which, he said, will create a linkage between Vietnamese businesses and their counterparts from Australia’s Northern Territory.

The Northern Territory Government is keen to boost closer ties with Vietnam in the future, especially in areas of both sides’ strengths such as construction, investment, oil and gas exploitation, education, training and agriculture, Adam Giles said.

He also expressed his admiration for Vietnam’s vigorous developments over the years and pledged his best efforts to foster his territory’s cooperation towards the signing of cooperation documents with Vietnamese potential localities like Hai Phong and HCM City.

Addressing the forum, Consul General Le Viet Duyen highlighted Vietnam’s potential and advantages for cooperation with the Australian Northern Territory based on healthy developments in bilateral relations over the past 40 years especially since both nations established a comprehensive strategic partnership in 2009.

The Vietnamese diplomat suggested Vietnamese and Australian businesses should grasp and take full advantage of trade and investment opportunities by strengthening connectivity, exchanging products and complying with law in each nation.

Vietnamese businesses should seize Northern Territory opportunities for education and training cooperation, particularly in its sectors that need intensive labour, Duyen noted.

The Northern Territory is seen as one of Australia’s economic engines with the highest annual growth of 4.5 percent and this year’s GDP estimated at nearly AU$20 billion. This figure is predicted to double by 2030.

Vietnam is currently an important partner and the second biggest cow exporter of the Northern Territory second only to Indonesia.

The country still boasts huge potential for cooperation in tourism, investment, construction and trade with the region.