Seafood processing for exports (Illustrative image. Source: VNA)
Hanoi (VNA) – Australia is a choosy but promising market with largeconsumption capacity, Vice President of Australia-Vietnam Business Council CannLee has said.
He noted that penetrating this market is tough, but maintaining a foothold iseven more difficult.
Speaking at a recent Australia and Vietnam investment and trade expo in Hanoi,Lee said a delegation of 70 Australian businesses operating in real estate,finance, environment, mineral and hi-tech agriculture have arrived in Vietnamto seek cooperation opportunities with Vietnamese partners.
Vietnam is the second most attractive market in Southeast Asia to Australianfirms, only after Indonesia, due to Vietnam’s political stability and dynamicmarket, he noted.
Notably, the Vietnamese Government has devised incentives to supportenterprises seeking business opportunities in the country.
Bilateral trade has increased in recent years after the two countries joined afree trade agreement signed between Australia, New Zealand and ASEAN in 2009.
In 2016 alone, two-way trade reached 5.26 billion USD, a year-on-year rise of6.5 percent, according to Vietnam Customs.
Vietnam exported 2.87 billion USD worth of goods to Australia while importing2.39 billion USD from the market.
As of May 2017, Australia ranked 19th among the total 119 countries andterritories investing in Vietnam with 404 projects worth nearly 1.9 billionUSD.
Andrew Martin, Managing Director at Moelis said the company recognised the hugeinvestment opportunities in real estate and finance in Vietnam due to thesectors’ stable growth.
Despite huge import demand, many Vietnamese staples have struggled to conquerthe Australian market, Lee said, with quality of goods the biggest difficultyfor Vietnamese firms.
Director of Hoang Lan Co. Ltd. Nguyen Thi Nga said businesses should followinternational standards to meet the requirements of consumers and improvecompetitiveness and improve the quality management system of factories.
She suggested Vietnamese firms invite experts to inspect the quality ofproducts and bring skilled Australian workers to Vietnam to increase thequality of products and popularise Vietnamese goods in the market.
Australian business representatives advised Vietnam to seek partners inAustralia to better understand the host’s law and market to enter the marketmore easily.-VNA
The Australian Centre for International Agricultural Research held a conference in Hanoi on March 6 to discuss the Vietnam-Australia agricultural cooperation strategy for 2017-2027.
The opportunities for Vietnam to tap the Australian market are huge if businesses create competitive products up to international standards, said experts.
The Department of Animal Husbandry and the Meat and Livestock Australia (MLA) jointly held an Asian exhibition and conference on beef and dairy cattle, which opened in Ho Chi Minh City on March 8.
Fifteen leading Australian universities and executive training providers will participate in the Vietnam – Australia Executive Education and Training Showcase to be held in Vietnam for the first time.
The Vietnamese and Australia governments on March 31 held their High-Level Consultations on Development Co-operation to discuss results of their long-term development co-operation and the importance of its transformation into an economic partnership.
A forum was held in Hanoi on May 23 providing Australia with an insight into the real situation of Vietnam’s energy industry and helping domestic firms to explore the possibility of cooperation with Australian partners.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
Seafood processing for exports (Illustrative image. Source: VNA)
