Services trade

Services exports to Vietnam in 2005 were worth A$225 million. Education and training remains Australia's single largest services export, worth A$137 million per annum. Services imports from Vietnam in 2005 were valued at A$390 million, dominated by tourism-related spending (A$276m).

Co-operations in Education and Training

Of all the English-speaking countries in the world, Australia welcomes the largest number of students from Vietnam. There are currently some 7,200 students from Vietnam studying in Australia, and an estimated of 8000 more studying Australian education and training courses in Vietnam.

Export and Investment Opportunities for Australia in Vietnam

Vietnam's rapid economic growth over recent years has led to large demand for imported goods, creating significant opportunities for Australian exporters of metals, wheat, dairy produce, machinery, petroleum-based products and live animals

Development Cooperation Programs

Australia's total overseas development assistance to Vietnam in 2006-07 is estimated at $81.5 million. Amongst 40 donor countries and agencies in Vietnam, Australia consistently ranked among the top ten bilateral donors in 2006-07. Vietnam is Australia's fourth largest development partner after Papua New Guinea, the Solomon Islands and Indonesia.

JetStar flies into Vietnam

In late November 2006, Australian budget carrier JetStar undertook its first direct Sydney-HCMC flight. JetStar now flies this route three times a week.

Examples of Recent Successes QANTAS invests in Pacific Airlines

In April 2007 QANTAS signed an investment agreement with the State Capital Investment Corporation (SCIC), the investment holding arm of the Vietnamese Government, to purchase a 30 per cent share in Vietnam’s second largest airline, Pacific Airlines.

English language joint venture in Danang

June 2007: The English Language Institute, a joint initiative of the University of Danang, Vietnam, and the University of Queensland opened in Danang. The Institute is located on the main campus of the University of Danang in custom-built premises and provides high quality English language and corporate training

Santos Signs Exploration deal with Petrovietnam

October 2006: Santos signed a Production Sharing Contract (PSC) with the Vietnam Oil and Gas Corporation (Petrovietnam) and the Singapore Petroleum Corporation (SPC) for a venture in the Song Hong Basin, continuing its plans to expand its operations in Vietnam. Santos announced its first entry into Vietnam in April 2006 with commencement of drilling at Dua in the Nam Con Son Basin.

RMIT International University Vietnam opens new campus in Ho Chi Minh City

2005: The Royal Melbourne Institute of Technology International University Vietnam opened a new campus south of Ho Chi Minh City, with over 500 students. RMIT’s Hanoi campus offers a Bachelor of Commerce degree, an MBA for part-time students, and a Masters of Education as well as preparatory courses in English. RMIT was granted a licence to operate its first campus in 2000 and remains the only fully foreign-owned university in Vietnam.

BlueScope Steel begins production at new steel mill

Late 2005: BlueScope Steel completed its US$105 million flat steel metallic coating and painting facility in the southern province of Ba Ria-Vung Tau. The mill has an annual production capacity of approximately 125,000 tonnes of metallic coated steel and 50,000 tonnes of painted flat steel products.

QBE enters new phase

2005: QBE Insurance entered a new phase of operations in Vietnam, selling its stake in a joint-venture insurance company to local partner BIDV and taking over a 100 per cent foreign-owned insurance company from Allianz.

Commonwealth Bank opens representative office

2005: Commonwealth Bank opened a representative office in Ho Chi Minh City, in addition to its long-standing insurance joint venture with a local partner (Bao Minh Insurance).

ANZ outbids other offshore banks for a 10 per cent stake in Vietnam's Sacombank

March 2005: ANZ acquired a 10 per cent stake in Sacombank, reputedly Vietnam's biggest retail banking network. ANZ is currently the largest foreign bank in Vietnam, with branches in Hanoi and Ho Chi Minh City and a total of 24 ATM service locations.

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