The Australian Trade and Investment Commission (Austrade) in Vietnam, in collaboration with the Foreign Investment Agency (FIA) of Vietnam, held a 2023 Australia Investment Forum in Ho Chi Minh City on September 8 to boost trade and investment cooperation between the two countries.
HCM City (VNA) – The Australian Trade and Investment Commission (Austrade) in Vietnam, in collaboration with the Foreign Investment Agency (FIA) of Vietnam, held a 2023 Australia Investment Forum in Ho Chi Minh City on September 8 to boost trade and investment cooperation between the two countries.
The forum, a subsequent event of the 2023 Australia-Vietnam Investment Forum held in Hanoi on April 17, is among the activities to celebrate the 50th anniversary of the bilateral diplomatic ties.
Stressing the bilateral relations are developing strongly in all fields, Australian Consul General in the city Sarah Hooper said that the Vietnam visits by her country’s leading officials this year have demonstrated the importance it has attached to its strategic partnership with Vietnam as well as its commitment to realising the intention to upgrade the ties to a comprehensive strategic partnership.
Vietnam is a very important economic partner for Australia and both are aiming to double two-way investment and become each other’s leading trading partner.
“With an open economy, multiple FTAs and strong cultural links with Asia, we see enormous potential to expand our trade and investment relationship and there are real opportunities in Australia for Vietnamese investors who take the time to get to know the market and to invest their business in Australia which link to their supply chains in Vietnam and in international markets,” she said.
FIA deputy head Vu Van Chung said that there remains an ample room to further develop the complementary economic cooperation between Vietnam and Australia.
The Ministry of Planning and Investment is committed to working closely with Australian authorities to provide information and support the investment process of Vietnamese businesses in Australia in the coming time, thus contributing to promoting bilateral economic collaboration.
At the forum, over 100 participating Vietnamese enterprises were provided with information about foreign direct investment policies, opportunities in the global value chain, market challenges, and Australian states’ incentives.
Currently, there are 93 investment projects worth about 586 million USD of Vietnamese enterprises in Australia, ranking 11th out of the 80 countries and territories receiving the Southeast Asian country’s investments./.