Investment
Australia calls on Vietnamese investors
The Australia Vietnam Business Council (AVBC) and Canberra University recently held a workshop in Sydney to call on Vietnamese businesses to make investment in Australia’s New South Wales.
The workshop
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She said the state’s government regards Vietnam as a potential and promising market to develop this new model in Australia. Local authorities are coordinating with Vietnamese agencies and organisations to promote this programme in Hanoi and Ho Chi Minh City in June this year, she added.
President and founder of the AVBC Laurence Strano said the programme aims to encourage Vietnamese enterprises to do business in New South Wales. He cited two-way trade surged from 45 million USD in 1990 to 10 billion USD at present.
Bilateral trade is expected to double in the coming time, he said, adding that he hopes more Vietnamese businesses will make investment in Australia and vice versa.
Within the TPP framework, Australia has pledged to apply zero percent tariffs for 94 percent of Vietnamese products. In return, Vietnam’s commitments to opening its market for Australian products under the TPP are higher than that of AANZFTA, Hoang said, adding that once the TPP is signed and comes into effect, the investment opportunities in the respective countries will increase, especially in fields of their strengths.
The two nations will have the opportunity to exchange goods and services as well as support other members of the TPP for effective global economic integration.
