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Vietnam, Australia seek to facilitate investment

The Saigon Times

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HCMC – Vietnam and Australia are aiming to strengthen economic cooperation by encouraging their businesses to invest in each other.

Bilateral relations between Vietnam and Australia have been on a positive trajectory, said Sarah Hooper, Australian consul general in HCMC.

Her remarks were made during the Australia Investment Forum held today, September 8, in HCMC. The event was organized by the Australian Trade and Investment Commission (Austrade), in coordination with the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Hooper said, “Vietnam and Australia have complementary economies, and our supply chains are becoming more closely entwined.”

The event followed the previous investment promotion initiative, titled Vietnam-Australia Investment Forum, which was held in Hanoi in mid-April. These efforts were expected to provide local firms with knowledge of the business environment and investment opportunities in both Vietnam and Australia.

During the event, government representatives from many states in Australia provided Vietnamese investors with up-to-date information about various potential sectors in Australia, including resources and energy, advanced manufacturing, agriculture, and education.

Vu Van Chung, FIA deputy director, said that trade and investment cooperation would remain a cornerstone of bilateral relations. He said the Vietnamese Government has demonstrated its support for local firms to expand their investments overseas, including in countries like Australia.

Vietnam currently has 93 investment projects in Australia, with their total registered capital put at US$586 million. Australia ranked 11th among 80 countries and territories that received investments from Vietnam, according to the Ministry of Planning and Investment.

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