The Australian government is working to strengthen connections between Australian and Vietnamese businesses and enhance support for Australian investors in Vietnam and vice versa. This initiative aims to drive bilateral trade between the two countries, as discussed at an information session hosted by the Australian Consulate General in Ho Chi Minh City on Tuesday.
The Australian side has introduced a new ‘Deal Team’ and a Landing Pad program in Ho Chi Minh City to link Vietnamese and Australian enterprises and explore cooperation and investment opportunities.
Australia’s Special Envoy for Southeast Asia, Nicholas Moore, mentioned to Tuoi Tre News that the establishment of the deal team and landing pad program in Ho Chi Minh City is crucial for deepening investment ties between Vietnam and Australia.
“We aim to increase Australian investment in Vietnam and also welcome more [Vietnamese] investment in Australia,” he emphasized.
The ‘Deal Team’ in Ho Chi Minh City will collaborate with businesses and authorities in Vietnam to identify and facilitate investment opportunities for Australian investors.
The Landing Pad program will bring together startups, research institutions, and tech players to boost Australian tech exports to Vietnam.
“We see great potential for investment in Vietnam from many countries, including Australia. The Australian government is keen on assisting the Australian private sector in investing in Vietnam,” Moore said.
Australia’s Business Champion for Vietnam, Louise Adams, highlighted that the business champion’s role is to enhance commercial links between Australia and Vietnam.
The Australian government is raising awareness among businesses through various initiatives: establishing an outward investment mission program for institutional investors to explore opportunities in Vietnam, helping Australian and Vietnamese firms understand digital trade rules, attracting Vietnamese students, and promoting new direct flights between Australia and Vietnam.
Australia plans to prioritize investment in 10 sectors in Vietnam and Southeast Asia, including agriculture and food, resources, green energy transition, infrastructure, education, tourism, healthcare, digital economy, professional and financial services, and creative industries.
Vietnam and Australia elevated their relations to a comprehensive strategic partnership, the highest level in Vietnam’s international relations, during Vietnamese Prime Minister Pham Minh Chinh’s visit to Australia in March.
Bilateral trade between the two countries reached AU$25.7 billion (US$17 billion) in 2022.
