Australia supports Vietnam in improving business environment

Aus4Reform, a 4-year program to boost the productivity and competitiveness of Vietnam's economy, was officially launched in Hanoi on Wednesday.

The program, created by the Australian government and Vietnam's Ministry of Planning and Investment, is built on the reform momentum achieved through previous Australian support, including Beyond WTO and Restructuring for a more Competitive Vietnam.

Australia will give the Vietnamese government 6.5 million AUD to achieve its goal of improving the business environment and moving Vietnam closer to a market economy. Aus4Reform will help Vietnam build and implement economic policies, laws, and institutions to reach its economic potential. The initiative will create experience-sharing links between Australia and Vietnam.

Australia's support will help Vietnam achieve its goal of 1 million new private enterprises by 2020, increase the percentage of women-led enterprises, and accelerate growth in private sector employment.

Source: VOV5