Prime Minister Pham Minh Chinh and Australian Prime Minister Anthony Albanese, during a recent meeting, witnessed the formal exchange of multiple cooperation agreements between their countries for science and technology.
The exchange of agreements encompassed a Memorandum of Understanding (MoU) between Vietnam’s Ministry of Science and Technology (MoST) and Australia’s Department of Foreign Affairs and Trade (DFAT) focused on enhancing collaboration in the domains of science, technology, and innovation. The agreements are anticipated to reinforce bilateral cooperation, fostering socio-economic progress in both nations.
Prime Minister Pham said the meeting with his Australian counterpart was successful. Both sides comprehensively reviewed all areas of cooperation between the two countries and noted the effective development of the bilateral ties. Political trust, mutual understanding, and respect have been increasingly consolidated through the regular exchange of high-level delegations and contacts.
Notably, economic and trade cooperation has emerged as a prominent area of success, with bilateral trade increasing by 30% to reach nearly US$ 16 billion in 2022. The Minister also emphasised the significant strides made in defence and security cooperation, particularly in peacekeeping operations and cybercrime.
According to Deputy Minister Bui The Duy of MoST, the objective of the agreements is to establish conducive circumstances for the exchange of information regarding science, technology, and innovation endeavours. It aims to identify shared interests in enhancing the partnership, encompassing the activities of the Vietnam-Australia Partnership Programme on Innovation (Aus4Innovation).
The two sides also signed an MoU on the exchange of information on money laundering and terrorism financing between the State Bank of Vietnam (SBV) and the Australia Transaction Reports and Analysis Centre (AUSTRAC).
Vietnam has become one of the 17 prioritised countries in Australia’s innovation strategy. The Australia-Vietnam Enhanced Economic Engagement Strategy has opened doors for both nations to enhance their collaboration in the fields of science, technology, and innovation. Knowledge and innovation have emerged as key foundations of the strategic partnership between Vietnam and Australia.
In Vietnam, a National Strategy for Science-Technology and Innovation Development until 2030 has been issued, highlighting that promoting science, technology, and innovation is the leading national policy playing the role as the main motivation for growth.
The Aus4Innovation initiative was unveiled during the APEC Economic Leaders’ Week in 2017 to support Vietnam in building a robust national innovation system. It aims to assist the country in preparing for and capitalising on the technological opportunities presented by the Fourth Industrial Revolution. The initiative also aims to shape Vietnam’s innovation landscape in the realm of science and technology. Aus4Innovation helps discover emerging fields in the transformation of digital technology, experiment with new partnership models between organisations in public and private sectors, enhance Vietnam’s capability in technology, and formulate policies relating to innovation.
It implements programmes to improve Vietnam’s innovation capacity through research commissioned to underpin preparedness for a digital future, industry-relevant research and technology transfer in agriculture, and modes of creative thinking in education to feed an entrepreneurial and start-up economy.
The Aus4Innovation programme is financially supported by DFAT and co-sponsored by the Commonwealth Scientific and Industrial Research Organisation (CSIRO). It is implemented in collaboration with MoST.
