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Vietnam Today

Australia to support economic reform

Released at: 14:40, 14/12/2017

Australia to support economic reform

Photo: Embassy of Australia in Hanoi

Four-year reform program jointly launched by Australian Government and Ministry of Planning and Investment.

by Le Diem

The Australian Government and the Ministry of Planning and Investment have jointly launched Aus4Reform - a four-year program to boost productivity and competitiveness in Vietnam’s economy.

Under the A$ 6.5 million ($5 million) program, Australia will support the Vietnamese Government to achieve its targets in improving the business environment and move Vietnam towards a more market-based economy by assisting the development and implementation of economic policies, laws, and institutions to help the economy reach its potential.

The initiative will also help create links between Australian and Vietnamese institutions to share expertise and experience.

It builds on the reform momentum achieved through previous Australian support, including “Beyond WTO” and “Restructuring for a More Competitive Vietnam”.

Australian Ambassador in Vietnam, H.E. Craig Chittick, said Vietnam has a long history of pursuing economic reform and Australia is proud to have offered its 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 goals of 1 million new private enterprises by 2020, increase the percentage of women-led enterprises, and accelerate growth in private sector employment.

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), the Vietnam Competition and Consumer Agency (VCCA), the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD), the Vietnam Chamber of Commerce and Industry (VCCI), the Communist Party Economic Commission (CPEC), and the Economic Committee of the National Assembly (ECNA).

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