The Australia- Vietnam Investment Forum highly appreciated bilateral economic cooperation. Photo: Viet Ha
Vietnam is a 'good heaven' for Australian businesses to invest effectively
Present in Vietnam market since 2004, Mavin Group is one of the foreign enterprises operating effectively in Vietnam.
In the afternoon of 17.4.2023, sharing at the Vietnam-Australia bilateral investment forum organized by the Ministry of Planning and Investment (MPI) in collaboration with the Australian Embassy in Vietnam, the Australian Government Trade and Investment Agency (Austrade), Mr. David John Whitehead - Chairman of Mavin Group - said, Up to now, Mavin has expanded 5 large-scale and modern animal feed processing plants, 1 food processing plant. Mavin's business system has 2,600 employees, and the product is present throughout the country.
"Investing in Vietnam is a great experience, Vietnam is a market with good growth potential, preferential investment environment, low production costs, strategic location and a strong digital economy. We are delighted to be a member of sustainable development in Vietnam," said David John Whitehead.
Present in Vietnam since 2006, Linfox is also an Australian logistics enterprise that always sets professional investment goals and always emphasizes sustainable development, to do so, the way to invest in people is a must.
According to Mr. Filip Jankovic - Country Director of Linfox Vietnam, in Vietnam, Linfox has invested a lot in supply chain stages such as investing in modern warehouses in Bac Ninh. Building large-scale distribution centers stretching from Bac Ninh, Quang Binh, Da Nang, Binh Duong to Cu Chi; has a cross-border transportation network to Laos...
Australia is a long-term supporter of Vietnam's economic development. For decades, Australian companies have invested in Vietnam. Telstra, RMIT, ANZ, Bluescope Steel, Allens and BHP have made strategic investments that contribute to Vietnam's infrastructure and economic development.
Other notable investments from Australia include Austal, VMS and Midway Metals in manufacturing; Linfox and Aurecon in logistics and services; Blackstone Minerals and Blueleaf Energy in renewable resources and energy; CBH and SunRice in the agricultural sector.
Huge surplus and opportunities for cooperation between Vietnam and Australia
Speaking at the forum, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that Vietnam encourages and prioritizes attracting quality foreign investment, promoting investment in science and technology, especially in the fields of high technology, innovation, green energy, renewable energy, etc finance, banking, healthcare, high-quality human resource training, infrastructure, healthcare, pharmaceuticals ... Therefore, the potential and opportunities for cooperation between Vietnam and Australia in the coming time are huge.
Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc. Photo: Duc Trung
In order to further promote economic, investment and trade cooperation between Vietnam and Australia, the two sides should continue to promote the role and effectiveness of the Vietnam-Australia Economic Partnership Ministerial Meeting.
"This is an important channel for economic exchange and cooperation between the two countries, creating favorable conditions for businesses of the two sides to operate effectively; At the same time, the two sides need to continue researching, developing and implementing cooperation activities to promote the effective implementation of the Strategic Agreement on Strengthening Economic Cooperation between Vietnam and Australia (EEES)," said Deputy Minister Nguyen Thi Bich Ngoc.
Australian Trade and Tourism Minister Senator - Don Farrell affirmed that Strengthening cooperation with Vietnam is a priority of the Australian Government. Photo: Duc Trung
Senator Don Farrell, Australia's Minister of Trade and Tourism also said: "Strengthening cooperation with Vietnam is a priority for the Australian Government, as we diversify trade and investment links and develop our Southeast Asia Economic Strategy to 2040. Vietnam offers important trade and investment opportunities over the next few decades."
By March 2023, Australian investors have 593 valid projects with a total registered capital of US$1.99 billion, accounting for 0.4% of total registered FDI and ranking 20th out of 143 countries and territories investing in Vietnam. (Mr. Vu Van Chung - Deputy Director General of Foreign Investment Agency - Ministry of Planning and Investment)