Australian investment supports Vietnamese startups
The Australian Government has committed 4.9 million AUD (3.53 million USD) of investment in Vietnam's venture fund Ascend Vietnam Ventures (AVV) to assist local startups, according to the Australian Embassy in Vietnam.
HCM City (VNA) – The Australian Government has committed 4.9 million AUD (3.53 million USD) of investment in Vietnam's venture fund Ascend Vietnam Ventures (AVV) to assist local startups, according to the Australian Embassy in Vietnam.
The amount raises total Australian private investment in the rising Vietnamese technology startup market to 70 million AUD (50.52 million USD).
Addressing a ceremony to announce the funding in Ho Chi Minh City on February 22, Australian Ambassador to Vietnam Robyn Mudie said that the investment aims to realise Australia’s commitment to helping strengthen the capacity of young entrepreneurs, including women entrepreneurs, in expanding their business scale and making positive influence on the environment and society.
Vietbam is one of the strongest growing economies in Southeast Asia with outstanding achievements in developing women-led enterprises, she noted.
Mudie noted that women-led firms have been adversely impacted by COVID-19 pandemic, holding that the fast growth of Vietnam will bring about great chances for women entrepreneurs to optimise their potential.
The investment in AVV aims to provide initial capital for newly-established companies, thus helping create new jobs and increase income amid the post-pandemic economic recovery, she said.
The ambassador said that the investment will contribute to realising priorities of the Australia-Vietnam Enhanced Economic Engagement Strategy, thus doubling the bilateral trade and reinforcing Australia’s efforts in supporting Vietnam to upgrade itself from a marginal market to an emerging one.
AVV provides financial amounts and necessary support for new firms in Vietnam, focusing on women-led businesses in highly influential areas such as education, financial services and health care. Through this investment, Australia will support AVV to focus on female entrepreneurs and companies that benefit women, driving positive social impacts and generating high profit./.
Hanoi takes Australia as an important and potential partner and always pays attention to promoting cooperation with the country, Secretary of the municipal Party Committee Dinh Tien Dung told Australian Ambassador to Vietnam Robyn Mudie on February 15.
Australia has delivered 3.6 million Pfizer COVID-19 vaccine doses to Vietnam over recent weeks through a procurement agreement with UNICEF and in partnership with Vietnam's Ministry of Health, according to a press release from the Australian Embassy on February 19.
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The United Associations of Vietnamese Students in New South Wales, Australia (UAVS-NSW) held a conference to review its operation in 2021 and sketch out its plans for 2022.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
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Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Illustrative image (Photo: Forecast/VNA) 
