Thank you very much Vice-Chancellor, the President, members of the academic staff, candidates for graduation, ladies and gentlemen. It is a special privilege for me to be here today in this beautiful Opera House to participate during my first ever visit to Vietnam in a graduation ceremony which more than anything I can imagine symbolises the future between our two countries, Australia and Vietnam. The opportunity it gives me to praise the work of RMIT and through that praise to emphasise the critical significance of education links between our two countries and between Australia and other countries in the region is very important indeed.
Decades ago Australia reached out to the countries of Asia through something called the Colombo Plan, which was an opportunity for young students in Asia to study in Australia. And in the 10 years that I have been Prime Minister, and the many visits that I've undertaken to different countries in the region, the constantly recurring theme is the extent to which the alumni of Australian universities dotted around the region, tell me a story about relations between our country and the rest of the region.
In this case RMIT in four short years has gone from a mere handful of students to an extremely large number and I was told by the Vice-Chancellor that the growth over the last year was no less than 70 per cent. There are now of course some five to six thousand Vietnamese students studying in Australia and I don't need to tell an audience such as this of the large and very welcome, and very positive, community of almost 200,000 of Australians with a Vietnamese heritage.
I was particularly pleased to be told of the great focus, I know it's not an exclusive focus, but it's a particular focus, of the university on business and business related degrees. The future of this country, indeed the future of so many developing countries in the Asia Pacific region around the world, lies in its willingness to embrace the opportunities that a globalised world economy offers. Vietnam has enjoyed over the last 10 years average economic growth of about seven per cent per annum, and that is remarkable. In the time that I've been here, both in Hanoi and here in Ho Chi Minh City, I have been impressed with the entrepreneurial flair and spirit, the commitment of people to the role of small and medium sized enterprises because we do live in a globalised world, it is with us now forever. And those countries that can adapt and play a part in it and take advantage of the opportunities that are available, are the countries that will continue to enjoy very rapid growth rates.
That reality was expressed again and again in the meeting that I've just participated in, as one of the 21 APEC economic leaders, hosted so well by the President of Vietnam in Hanoi. There is now a strong acceptance and realisation of the particular importance, not only of foreign investment in developing countries, but also the indigenous contribution of small and medium enterprises. Like all graduation ceremonies, whether they take place here in Ho Chi Minh City, or in Australia, they are always tinged with a great deal of family pride and sense of personal achievement. I join the Vice-Chancellor in extending my congratulations to all of these wonderful young students who represent in a very direct sense the hope and the future of this country. A future that we hope is peaceful and prosperous, and a future that we in Australia sees Vietnam playing a full and growing role in the affairs and the activities of the region.
And can I say as Australia's Prime Minister, how very proud I am, as an Australian, as well as as Prime Minister, that a great Australian institution, RMIT, has played such a significant role in reaching out and providing an opportunity for so many young people to take advantage of the educational support that this great institution offers.
I want to take this opportunity of thanking the donors and the financial supporters of the university as well. It has a very rich tradition in Australia and it is a tradition which has been carried world wide, and particularly here in Vietnam. So to all of the students, to their families, their mothers and fathers and other loved ones who are here today to witness this very important event, remember this moment, it's a very important one, you have every reason to be very proud of what you have achieved and on behalf of the Australian Government and the Australian people I wish you good health and great prosperity, and great success as you play your very active role in the Vietnam of the future.
Thank you.
[ends]