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Australian businesses keen to invest in Vietnam

25/05/2022    20

The Vietnamese Embassy in Australia, the Binh Duong provincial People's Committee, and the State Government of Victoria (Australia) co-hosted a seminar on May 24 to seek further investment opportunities in Binh Duong.

Addressing the event, Vo Van Minh, chairman of the Binh Duong administration, briefed Australian businesses on the province’s strengths in terms of traffic, infrastructure, industrial parks, and smart city development potential.

Minh emphasised that the locality has always focused on developing high-quality industrial parks over the past 20 years, all of which have attracted a large number of foreign firms that choose to set up their production facilities in the locality.

In the first four months of the year, Binh Duong, an industrial locality in southern Vietnam, has attracted US$2.3 billion in foreign direct investment (FDI). The province has so far established bilateral co-operative relations with 11 cities worldwide.

The locality is also an official member of international organisations, including the Intelligent Community Forum (ICF), the Asian Economic Cooperation Forum (Horasis), and the World Trade Center Association (WTCA).

During the event, Minh and Vietnamese Ambassador to Australia Nguyen Tat Thanh answered questions fielded by Australian firms regarding Vietnamese investment policies and support for small and medium-sized enterprises (SMEs).

At the ASEAN-Australia Business Forum held in Melbourne recently, Ambassador Nguyen Tat Thanh highlighted Australia's continued diversification of markets, affirming that ASEAN remains ready to assist Australian firms in implementing new initiatives and co-operation activities moving into the post-pandemic period.

The diplomat suggested that Australia seek to increase its investment in Southeast Asia, waive visas for ASEAN member countries, and strengthen activities to demonstrate corporate social responsibility, as well as greater humanitarian co-operation with the region.

Source: VOV