Business forum to seek cooperation opportunities with Australia

Illustrative photo. (Source: VNA)

A Vietnam-Australia business forum is to take place next week to support enterprises of the two countries to seek cooperation opportunities and technology transfer in clean energy, hi-tech agriculture and digital transformation applications.

The “Vietnam – Australia Business Cooperation Forum: Technology Transfer and Business Opportunities between Innovation Ecosystems in Australia and Vietnam” will be organised by the Australian Department of Foreign Affairs and Trade (DFAT) in collaboration with the Ministry of Science and Technology (MOST), University of Technology Sydney (UTS), Saigon Innovation Hub (SIHUB), and Ho Chi Minh City University of Technology on June 16.

It is supported by the Australia-Vietnam Enhanced Economic Engagement Grant (AVEG) under which the Government of Australia is committed to providing close to 2 million USD to assist small businesses in Vietnam, starting mid-2021.

The forum, to be held both in person in HCM City and on virtual platforms, expects to see the presence of leaders of Vietnam and Australia as well as experts and business representatives from both sides.

The “Vietnam – Australia Business Cooperation Forum: Technology Transfer and Business Opportunities between Innovation Ecosystems in Australia and Vietnam” will take place on June 16. (Photo: VNA)

Discussions will focus on the application of digital transformation in search and rescue, climate change response, health care, benefit-sharing scheme in energy projects, preservation of agricultural and aquatic products using solar power, agricultural product traceability using Blockchain, Internet of Things (IoT)-based smart farming solutions, biomethane production from agricultural residues, energy efficiency, and others.

Last November, Vietnam and Australia adopted the Enhanced Economic Engagement Strategy, with the aim of becoming top-ten trading partners and doubling two-way investment.

According to the DFAT, the Vietnam-Australia trade expanded 8.6 percent annually over the past two decades. In 2020, Australia’s investment into Vietnam reached 1.38 billion AUD (966 million USD), accounting for 0.51 percent of the latter’s total FDI.

Australia provided ODA loans worth 78.9 million AUD to Vietnam from 2020 – 2021./.