A Path to Australia: Opportunities and Market Insights for Vietnamese Businesses

A new report by Asia Society Australia and The Australian APEC Study Centre

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Thursday 12 May 2022

Viet Nam has a dynamic and growing relationship with Australia.

A variety of Vietnamese companies are engaged with Australia: Viet Nam-based multinational manufacturers, Vietnamese-owned conglomerates, small to medium-sized enterprises and entrepreneurs.

In November 2021, Viet Nam and Australia jointly announced an Enhanced Economic Engagement Strategy, demonstrating a powerful commitment to further expanding bilateral business relations.

Now, Asia Society Australia and The Australian APEC Study Centre at RMIT University, supported by the Department of Foreign Affairs and Trade, have developed the A Path to Australia: Opportunities and Market Insights for Vietnamese Businesses report to showcase trade, investment, and innovation opportunities for Vietnamese companies.

The report looks at potential paths for more businesses in Viet Nam to look to Australia to: diversify their import sources and export markets, increase investment, strengthen supply chain resilience, and grow new areas of commerce for the benefit of both economies. Case studies and examples are provided throughout the report of Vietnamese companies working with, and succeeding in, Australia.

Key Findings

  • Australia offers a unique blend of significant opportunities for export- and investment-ready Vietnamese firms willing to engage, adapt to local conditions, cultural realities and effectively leverage the unique eco-system
  • There are significant trade, value chain, investment, and innovation opportunities in agriculture, manufactured goods, resources and energy, and services.
  • The two countries have a strong bilateral relationship and open trade policy settings anchored in modern FTAs
  • Companies can use the knowledge and experience of Vietnamese-born Australians and Australian-Vietnamese, Vietnamese students and graduates of Australian Universities, and expatriates in both countries
  • Companies with confidence, self-belief, and a longer-term, strategic mindsets will secure greater benefits

A Path to Australia offers a path to success for Vietnamese business in Australia.

Download the report now in English and Vietnamese.

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‘A Path to Australia: Opportunities and Market Insights for Vietnamese Businesses’
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Contributors

Project Supervisors

  • The Hon. Dr Craig Emerson, Director, The Australian APEC Study Centre
  • Bonnie Rivendell, Program Director, Director, The Australian APEC Study Centre

Advisory Group

  • Thao Griffiths, Policy Advisor to the Chairman of VCCI
  • Duong Hong Loan, Director Strategic Engagement, RMIT Viet Nam
  • Philipp Ivanov, CEO, Asia Society Australia
  • Layton Pike, Chief Global Adviser, RMIT University
  • Bonnie Rivendell, Program Director, RMIT University

Research Team

  • Kate Parker
  • Aaron Soans
  • Tran Thi Viet Hoa
  • Nguyen Tuong Vy Linh
  • Kristen Bondietti
  • Jon Berry

Consulting Group

  • Ba Phuc Tran, President of Vietnamese Business Association of Australia
  • Lan Phuong, Head of FTA Department, WTO and International Trade Centre, VCCI
  • Simon Fraser, Executive Director AusCham Viet Nam
  • Jeremy Blackshaw, Managing Partner, Minter Ellison
  • Paris Zhang, Executive Director, International Markets, Minter Ellison
  • Cat Thao, Chair, Australia Viet Nam Young Leadership Dialogue
  • Tai Le, Viet Dragon Securities
  • Huan Tran, Entrepreneur
  • Trung Nguyen, RMIT Viet Nam, John Walsh, formerly RMIT Viet Nam
  • Vinh Thai, RMIT
  • Thanh Tam Tran, Head of Markets, KPMG

Editor

  • Greg Earl

Translators

  • Nguyen Thi Cam Linh
  • Nguyen Tuong Vy Linh
  • Dang Thi Quynh Anh (Jaimie)

Industry Liaison

  • Andrew Deane, Associate Director, Development & Partnerships, Asia Society Australia