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Tuesday, June 25, 2024

Australian investors pledge US$2 billion in Vietnam

The Saigon Times

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HCMC – Australian companies had had a total of 631 projects in Vietnam with combined capital of US$2.04 billion as of February 22, showed data from the Ministry of Planning and Investment.

Leading the provinces and cities in terms of Australian investments is the southern province of Ba Ria-Vung Tau, with 16 projects worth US$392.21 million.

HCMC and Hanoi rank second and third, respectively. HCMC is home to 309 Australian-invested projects worth US$231.12 million, while Hanoi has 123 projects capitalized at US$209.63 million.

Australian investment projects in Vietnam are in 18 sectors, with manufacturing, hospitality, and agro-forestry-fishery sectors leading the way.

Vietnam has invested in over 90 projects in Australia, with total investment capital reaching US$550 million.

In 2023, two-way trade between Vietnam and Australia reached US$14 billion, positioning both countries among each other’s top 10 trading partners.

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