Vietnam-Australia Bilateral Investment Forum 2023, afternoon 17/4.
Sharing about the investment journey in Vietnam at the Vietnam-Australia Bilateral Investment Forum, in the afternoon of April 17, Mr. David Whitehead, Chairman of Mavin Group, said that at first Mavin was just a small factory in Hung Yen but now has developed and expanded its network throughout Vietnam.
Currently, Mavin Group is a strong Australian-invested agri-food enterprise in Vietnam with 5 animal feed processing factories, hundreds of livestock farms, 2 veterinary drug production lines, 1 food processing factory and 2,600 employees nationwide.
Talking about Mavin's experience when investing in Vietnam, Mr. David Whitehead said that it is necessary to have a knowledgeable local partner business, as a bridge to support the law and business environment.
"The reason for choosing Vietnam as a destination is because Mavin sees the potential of Vietnam in many different fields. Investing in Vietnam is a great experience. Mavin is proud to play a part in Vietnam's economy." - Mavin Group Chairman David John Whitehead
Sharing more about the reason for choosing Vietnam as an investment place, Chairman Mavin explained because he saw very good market growth opportunities and the ability to optimize the value chain in Vietnam.
According to Mr. David Whitehead, Vietnam is considered one of the fastest growing economies in Southeast Asia, with a young, highly educated workforce. With the population already at the 100 million marked, the rapidly expanding middle class is an opportunity for businesses to access new markets and expand their customer base.
"Vietnam is also a country with a friendly business environment, many investment incentives such as tax reduction, land use rights, lean administrative procedures, low labor costs and production costs. These things help Vietnam become an attractive location for manufacturing and processing industries", Chairman of Mavin Group pointed out.
The investor also sees Vietnam as having an ideal geographical location for companies to reach out, as it is located at the crossroads of Southeast Asia. Along with that, Vietnam has signed a number of free trade agreements, including the CPTPP, giving businesses the opportunity to access markets with a scale of more than 500 million consumers.
"Another point is that Vietnam has the leading digital transformation economy in Southeast Asia, with a rapidly expanding e-commerce market. This is an opportunity for companies to leverage digital transformation to drive growth and innovation" added David Whitehead.
According to Vu Van Chung, Deputy Director General of the Foreign Investment Agency (MPI), Australia's investment in Vietnam has reached $1.99 billion, mainly in the processing and manufacturing sector. Investment cooperation between Vietnam and Australia has some very successful areas, especially in human resources.
Vietnam is an attractive destination for foreign investors based on 8 main pillars, including: Stable socio-political environment; high and stable economic growth; competitive production costs; abundant human resources – golden population structure; the market has high growth potential; intensive international integration; open door policy with many attractive investment incentives; strategic geographical location.
Besides, Mr. Vu Van Chung also said that the international assessment of Vietnam's investment environment is increasingly upgraded. According to Nikkei Asia, Vietnam leads Southeast Asia in recovery momentum after the Covid-19 pandemic (ranked 8th in the world). Vietnam is in the top 20 economies attracting FDI in the world (according to UNCTAD) and the top 20 economies in international trade (according to WTO).
The JETRO survey in 2022 also affirmed that Vietnam is the 3rd most attractive investment destination in the world and the 2nd in Asia. Most recently, the EuroCham survey published in January 2023 has shown that Vietnam is in the top 5 global investment destinations.
View original article: Chủ tịch Tập đoàn Mavin: Đầu tư ở Việt Nam là một trải nghiệm tuyệt vời | Mekong ASEAN