Mr. Layton Pike said that in 2024, Vietnam's economy achieved strong Gross Domestic Product (GDP) growth thanks to recovering exports and stable foreign direct investment.
“In 2024, Vietnam's economy has exceeded expectations,” said expert Layton Pike, a member of the Advisory Board of the Australia-Vietnam Policy Institute, in an interview with a VNA reporter in Sydney.
Explaining the reason for making the above comment, Mr. Layton Pike said that in 2024, the Vietnamese economy achieved strong Gross Domestic Product (GDP) growth thanks to recovering exports and stable foreign direct investment.
Despite global economic headwinds, such as persistent inflation and rising protectionism, Mr. Layton Pike predicts that Vietnam's economic outlook in 2025 remains positive.
Prime Minister Pham Minh Chinh ’s recent announcement that 2025 will be a year of acceleration for the Vietnamese economy, with an expected GDP growth rate of more than 8%, is a positive signal to investors and partners, showing that Vietnam will continue to prioritize economic development.
To promote this acceleration, expert Layton Pike said that Vietnam needs to continue pursuing targeted policies to build a better legal framework and reduce investment barriers, including for countries like Australia.
He said the Australia-Vietnam Policy Institute has long supported simplified FDI processes in line with international standards to strengthen investor confidence and make Vietnam a more attractive destination for businesses.
In terms of foreign affairs, expert Layton Pike said that 2024 is an important year for Australia-Vietnam relations. The two countries' upgrading of relations to a Comprehensive Strategic Partnership promises to help expand bilateral cooperation in many areas, such as digital transformation and energy transition. These will be the focus for the future prosperity and security of both Australia and Vietnam.
According to expert Layton Pike, it is clear that political and business leaders in both Australia and Vietnam are very ambitious about the bilateral relationship in 2025. Continued cooperation and collaboration between the two countries will play a central role in maintaining the momentum of the relationship and realizing the goals of the Comprehensive Strategic Partnership.
Expert Layton Pike said the Australia-Vietnam Policy Institute is committed to supporting the expansion and strengthening of the bilateral relationship, including expanding the network of businesses and organizations from both countries in Australia and Vietnam to participate in the bilateral relationship, as well as providing a platform for the exchange of ideas and insights.
According to the expert, the Comprehensive Strategic Partnership between Australia and Vietnam commits both countries to continue their efforts to promote and protect human rights and equal opportunities for all.
Constructive and frank human rights dialogue has long been a hallmark of the bilateral relationship, and these serious exchanges are expected to continue within the framework of the Comprehensive Strategic Partnership.
As a member of the United Nations Human Rights Council, Vietnam has the opportunity to cooperate with Australia and other countries in the region to promote basic human rights globally./.
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