In an interview granted to Vietnam News Agency (VNA)’s correspondents in Sydney on the threshold of Prime Minister Pham Minh Chinh’s official visit to Australia, the scholar said that Australia can deepen bilateral cooperation in the fields by providing “soft infrastructure” to Vietnam, including training Government officials in the areas of finance, environment and business.
Such programmes may be linked to undergraduate degree programmes in public administration, he proposed. However, these programmes need to be supplemented by internships in Australian state and federal government agencies so that Vietnamese officials not only learn theory but also observe the practices and culture of Australian management agencies, he added.
Dr. Leung said that the growth of the private sector is especially relevant in Vietnam today as it allows Vietnam to move up the value chain in the electronics sector to engage in component manufacturing rather than just assembly activities. A stronger private business sector in Vietnam will provide more investment opportunities for Australian companies, thus creating a “complete circle,” he stated.
The expert asserted that sound financial and business regulation will help promote growth and development of Vietnam's formal private sector, which is quite small by regional standards. The sector accounts for only about 11% of GDP in Vietnam compared to 30% in Thailand and 50% in China.
The orderly growth and development of private companies in a market economy depends on market-friendly regulations from the Government, a type of "soft infrastructure" for which Australia is capable to provide, he underlined.
Dr. Leung expressed his hope that Vietnamese Prime Minister Pham Minh Chinh will have a successful visit to Australia and that the relationship between the two countries will continue to develop more profoundly through a number of channels, including education and training.
