(KPL) Australian Prime Minister Anthony Albanese MP hosted a breakfast for government, business and industry representatives to mark the one-year anniversary of the release of Invested: Australia’s Southeast Asia Economic Strategy to 2040 at the Landmark Hotel, Vientiane, on 11 October.

The event, on the sidelines of the 44th Annual ASEAN-Australia Summit and 19th East Asia Summit, included Guest of Honor, Vietnam’s Prime Minister Pham Minh Chinh, and author of Invested Australia’s Special Envoy for Southeast Asia Nicholas Moore AO, and reinforced Australia’s commitment to deepening economic engagement with Southeast Asia.

Prime Minister Albanese noted that Australia’s security, prosperity and economic future are intimately linked with Southeast Asia and that Australia is delivering action to advance implementation of initiatives from Invested, including those announced at the ASEAN-Australia Special Summit marking 50 years of Dialogue Relations in March this year. 

Prime Minister Albanese noted that business and investment missions have been active in the region with ten missions to seven Southeast Asian countries, with over 220 Australian businesses participating.  

This included a delegation of Australian investors on a mission co-led by Special Envoy Moore and Australia’s Business Champion for Laos Chick Olsson who are visiting to learn more about the Laos business environment and to investigate opportunities. 

Other initiatives underway include the new Southeast Asia Investment Financing Facility which will provide up to $2 billion in loans, guarantees, equity and insurance for projects that support Australian trade and investment in Southeast Asia; more Australia for ASEAN Scholarships and Fellowships; extensions for the Mekong-Australia Partnership and for the Partnerships of Infrastructure programme; new Investment Deal Teams in the region to facilitate Australian investment; technology landing pads in Jarkarta and Ho Chi Minh City; and, enhanced visa access to Australia for Southeast Asian Business travellers. 

Prime Minister Albanese highlighted the establishment of the ASEAN-Australia Centre which will be focused onstrengthening business, education, cultural, and community connections. He also noted work underway to strengthen our existing free trade agreements and to simplify investment into Australia.

As part of the breakfast, Prime Minister Albanese congratulated Laos for a successful year as ASEAN Chair and thanked Laos for hosting the 44th Annual ASEAN-Australia Summit and 19th East Asia Summit.

KPL