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Vietnam, Australia to Cooperate in Technology, Trade

Vietnam and Australia discussed partnership opportunities in technology and trade during a recent forum held in Ho Chi Minh City by Vietnam’s Ministry of Science and Technology (MoST), the Saigon Innovation Hub, Australia’s Department of Foreign Affairs and Trade, and the University of Technology Sydney (UTS).

The event, part of a programme to strengthen economic cooperation between the Vietnamese and Australian governments, aimed to support the business communities in each country to cooperate in transferring solutions and technologies in clean energy, high-tech agriculture, and digital transformation. Participants at the event introduced several technology-based solutions for fields like trade, climate change response, and healthcare. They also explored the application of blockchain in agricultural product traceability and for smart agricultural solutions.

Australia is willing to invite Vietnamese firms to explore new opportunities in clean energy as well as provide opportunities to collaborate with Australian partners in technology transfer. The cooperation programmes will help strengthen bilateral relations and reinforce trade and investment partnerships between the two countries.

Since 2018, the two sides have worked together in researching and announcing reports on Vietnam’s digital economy and evaluating the contributions of innovation to Vietnam’s socio-economic development. They have also reached a series of cooperation agreements to promote innovation and technology transfer. According to the Deputy Minister of Science and Technology, Bui The Duy, businesses from both countries will continue to foster their connections, contributing to bolstering economic cooperation between Vietnam and Australia.

An official from the University of Technology Sydney said that the majority of enterprises in Vietnam have the demand to explore and access new technologies to increase their productivity and engage more deeply in global supply chains, providing products and services with higher economic value. However, the firms need further support during the process of accessing information and advanced technologies. The organisation of the forum was expected to enhance the capacity of technology application and transfer as well as provide professional consultancy to businesses from both sides.

The forum reaffirmed Vietnam’s interest in Australia’s new technologies, innovation, and investment. The UST Joint Technology and Innovation Research Centre in Vietnam, the first of its kind between the two sides, is opening up cooperation potential and opportunities for both Australian and Vietnamese partners.

Vietnam has been working with a number of countries to foster scientific and economic relationships. To achieve the goals set out in the national digital transformation strategy, the country has entered into several agreements to develop and deploy emerging technologies to improve the quality of public services and their delivery.

In May, Vietnam announced it would cooperate with Thailand in information infrastructure, cloud computing, social network management, digital transformation, and the digital economy. As OpenGov Asia reported, officials proposed that Thailand and Vietnam’s Ministry of Information and Communications (MIC) intensify information sharing, promote digital collaboration, enhance cooperation on digital transformation, and sign a memorandum of understanding (MoU) to facilitate joint activities in a post-pandemic world. A representative suggested that the two sides establish a mechanism to exchange and share experiences of digital transformation and digital economic development in line with each country’s growth strategy.

Both sides will also ramp up cooperation in fake news management to establish a safe and healthy online environment. The Vietnamese ambassador proposed that Thailand create favourable conditions for Vietnamese information technology enterprises to invest and do business in the country. He suggested that the two ministries resume working visits and meetings at all levels.

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