Vietnam-Northern Territory Business Connection Forum

The Vietnam-Northern Territory Australia Business Forum aims to connect businesses from Vietnam and the Northern Territory region of Australia, fostering economic and trade exchanges between the two countries

The scene of the forum. (Source: Consulate General of Vietnam in Perth)
The scene of the forum. (Source: Consulate General of Vietnam in Perth)

To further promote economic and trade relations between Vietnam and the Northern Territory of Australia, from November 22nd to 25th, the Consulate General of Vietnam in Perth, in collaboration with the local government, the Northern Territory Chamber of Commerce, and the Vietnam-Australia Business Investment Service (VABIS), organized the Vietnam-Northern Territory Australia Business Forum.

Many Vietnamese businesses, along with officials and major enterprises from the Northern Territory of Australia, attended the forum.

Speaking at the forum, Chief Minister Adam Giles commended the dynamic and proactive organization of the forum by Vietnamese partners. He expressed the desire that through this event, connections between Vietnamese businesses and those in the Northern Territory of Australia would be strengthened, thereby further enhancing economic and trade activities between the two countries.

Mr. Giles stated that the Northern Territory Government hopes to strengthen its relationship with Vietnam, particularly in areas of mutual strength and interest such as construction, investment, oil and gas exploration, education, training, and agriculture.

He also expressed admiration for the strong development of Vietnam, which he observed during his recent visit and work in Vietnam at the end of October. He pledged to promote cooperation between the Northern Territory and strong localities of Vietnam such as Hai Phong and Ho Chi Minh City, aiming to sign cooperation agreements.

At the forum, Consul General Le Viet Duyen highlighted the potential and strengths of Vietnam in relation to the Northern Territory of Australia, based on significant developments in the bilateral relationship over the past 40 years, especially since the establishment of comprehensive partnership in 2009.

The Consul General hopes that Vietnamese businesses and the Northern Territory will increase exchanges, seize opportunities for trade and investment through networking, promotion, and product exchanges, as well as understanding and compliance with local laws.

Vietnamese businesses should seize opportunities offered by the Northern Territory, which is currently assessed as having the highest growth rate in Australia, along with opportunities for cooperation in education, training, and vocational education, especially in fields with high demand for labor.

The Northern Territory of Australia is currently one of Australia’s economic leaders with the highest growth rate nationwide (averaging 4.5% per year) and a gross regional product of nearly AUD 20 billion in 2013, expected to double by 2030.

Vietnam is increasingly becoming an important partner for the Northern Territory of Australia, being the second largest beef export market of the Northern Territory after Indonesia, and there are many potential areas for cooperation such as tourism, investment, construction, and trade.