Layton Pike, a member of the advisory board of the Australia-Vietnam Policy Institute (AVPI), stated that Vietnam's economic growth in 2024 has significantly outperformed expectations, driven by a recovery in exports and steady foreign direct investment.

In a recent interview with the Vietnam News Agency, he expressed an optimistic outlook for the economy in 2025, despite global challenges such as ongoing inflation and rising protectionism.

He noted that the Vietnamese government's goal of achieving over 8% GDP growth in 2025 demonstrates its strong commitment to prioritising economic development. 

Pike recommended that the country continue implementing policies to improve legal frameworks and reduce investment barriers, including for Australian investors.

The AVPI has consistently supported the simplification of foreign direct investment processes, aligning them with international standards to strengthen investor confidence and make Vietnam a more appealing destination for businesses, he added.

Regarding Vietnam-Australia relations, he emphasised that the elevation of their ties to a comprehensive strategic partnership this year opens up opportunities for deeper collaboration in key areas such as digital transformation and energy transition, essential pillars for the future prosperity and security of both nations.

Furthermore, Pike noted that political leaders and businesspeople from both countries are ambitious about furthering bilateral relations in the coming year, adding that ongoing collaboration will be crucial to sustaining momentum and achieving the goals of the comprehensive strategic partnership.

The AVPI is committed to supporting the growth and strengthening of the bilateral relationship by fostering broader networks of businesses and organisations, as well as providing platforms for the exchange of ideas and promoting deeper mutual understanding, Vietnam Plus reports.

According to Pike, the partnership also highlights a mutual commitment to human rights and equal opportunities. The constructive and open discussions on human rights have been a significant milestone in bilateral relations and are expected to continue under the comprehensive strategic partnership.

As a member of the UN Human Rights Council, Vietnam has the opportunity to collaborate with regional partners in advancing fundamental human rights on a global scale, he added.