Tuesday, March 31, 2020

Vietnam Australia Relations

Export and Investment Opportunities for Australia in Vietnam

The recent tremendous surge in gold exports looks to have been driven by ongoing cuts in import tariffs on the product, and also Vietnamese buyers looking to diversify supply away from traditional European sources.

The continuing shift towards a more market-based economy and strong economic growth in Vietnam have increased demand for education and training services, and education sector reforms are under way with support from the Government of Vietnam and donors including the World Bank and Asian Development Bank.

Demand for training in areas such as English language, business and management and information technology is high, especially in the major urban centres of Hanoi and Ho Chi Minh City. The number of privately-funded Vietnamese students in Australia is increasing as the emerging middle class becomes an important market for education and training services.

Vietnam has large deposits of oil and gas and a wide range of exploitable mineral deposits. Many Australian companies have expressed interest in minerals mining in Vietnam but most are waiting for legislative reform before proceeding and none have operational projects.

Australian companies are generally well received in Vietnam. Australia is regarded as a modern, technologically advanced and friendly country located within Vietnam's immediate sphere of interest. Long-term trade and investment opportunities should increase in line with Vietnam's progress in implementing its legislative and administrative reform program following its entry to the WTO on 11 January 2007. Companies should assess the long-term commercial attractions against current difficulties in entering the market.

If you would like more information on specific export opportunities in Vietnam, or more information on export assistance, go to the Austrade website.

Australian Trade Commission in Vietnam

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