Australian policy think tank hails Vietnam’s economic dynamism within ASEAN

In an article titled “What to watch at the ASEAN-Australia summit,” author Susannah Patton wrote: “Most of the ASEAN leaders will be visiting Australia for the first time, at least in their terms in office. This means a big focus will be on relationship building.”

The Interpreter, a publication of the Australian-based international policy think tank The Lowy Institute, has recently published two articles mentioning the Vietnam-Australia relations and Vietnam's economic potential within ASEAN. (Photo: VNA)

The article noted that Vietnamese Prime Minister Pham Minh Chinh and his Philippine and Malaysian counterparts Ferdinand Marcos and Anwar Ibrahim are undertaking separate bilateral programmes to mark their first visits to Australia since taking office.

The summit will include a CEO Forum and briefings to help Australian small- and medium-sized enterprises do business in Southeast Asia, it said.

Meanwhile, another article titled “The parts within the whole: Understanding Southeast Asia’s economies" by Hannah Denson, assessed that Vietnam’s large manufacturing base and low-cost production have made it a key trade beneficiary as global companies shift. Combined with the return of overseas tourists, this partly explains Vietnam’s steady 5.1% growth rate in 2023.

Considering the electric vehicle industry a potential new source of growth across Southeast Asia, the author said Vietnam is home to the region’s first US‑listed electric vehicle company, VinFast.

PM Pham Minh Chinh and his spouse will attend the ASEAN-Australia Special Summit to commemorate the 50th anniversary of the sides’ dialogue relations, and pay official visits to Australia and New Zealand from March 5-11, the Ministry of Foreign Affairs has announced.

The PM's attendance at the summit and visits will be made at the invitation of Australian Prime Minister Anthony Albanese and Prime Minister of New Zealand Christopher Luxon./.