Hanoi: Vietnam and Australia are poised to enhance practical cooperation across multiple sectors after upgrading their ties to a Comprehensive Strategic Partnership. This development is expected to open up new opportunities, driven by strong complementarities and increasing business interest between the two nations, as stated by Deputy Minister of Foreign Affairs Nguyen Manh Cuong. Cuong addressed these points at the 'Meet Australia' event held in Ho Chi Minh City on May 19. The event was co-hosted by the Ministry of Foreign Affairs, the municipal People's Committee, Becamex Group, and the Australia-ASEAN Business Council (AABC).

According to Vietnam News Agency, Vietnam is embarking on a new phase of development with a goal to achieve the status of a high-income developed country by 2045. The nation's growth model focuses on people and businesses and is driven by science and technology, innovation, digital transformation, and the private sector.