During his official visit to Vietnam, Australian Prime Minister (PM) Anthony Albanese inaugurated a new innovation hub in Vietnam as part of RMIT University’s AUD 250 million (USD 170 million) strategic investment. This encompasses funding for the Industry and Innovation Hub in Hanoi, as well as the expansion of its Ho Chi Minh City campus.
In addition, the Australian PM announced several commitments, including an AUD 150 million (USD 100 million) contribution from the Commonwealth to support clean energy adoption and infrastructure, and to capture the attention of potential investors for Vietnam’s critical minerals.
Besides, Western Sydney University has committed to launching a two-year scholarship program for the study of business, communications, and data science, with a total value of AUD 2 million (USD 1.3 million). The Australian government also highlighted the 5-year expansion of CSIRO’s Aus4Innovation program to support Vietnam’s science, innovation, and policy agenda.
Vietnamese PM Pham Minh Chinh disclosed the potential cooperation between the two countries in digital technologies, climate action, digital transformation, green transition, and circular economy. Vietnamese PM also requested his counterpart to create favorable conditions for the Vietnamese community settling in Australia.
The two countries are working towards the Australia-Vietnam Enhanced Economic Engagement Strategy 2021-2025, aiming to achieve a trade turnover of USD 30 billion and double two-way investment.
(Sources: InnovationAus, RMIT)