Thanh Hoa rolls out red carpet for Australian firms

Deputy Secretary of the provincial Party Committee Trinh Tuan Sinh said that Thanh Hoa is currently home to an Australian-invested industrial lime factory project with a total capital of US$14.2 million in Nghi Son township. In the first nine months of 2024, the province's export revenue to Australia reached about US$56.5 million, primarily including textiles, leather, and footwear.

Notably, since Vietnam and Australia officially upgraded their relationship to a comprehensive strategic partnership in March this year, various opportunities have emerged for businesses and investors from both countries to collaborate more strongly, Sinh affirmed.

He invited Australian enterprises to explore investment opportunities in Thanh Hoa in various fields, from high-tech agriculture, energy, electronic components, telecommunications equipment, software, digital technology to trade, logistics, marine and ecological tourism, and training of high-quality human resources, especially in the areas matching Australia's strengths and Vietnam's demand, including semiconductors, artificial intelligence, the digital economy, green transition, and accounting - finance.

With the motto of "Harmonising Benefits and Sharing Risks," and a view of the development of enterprises as the development of the province, Thanh Hoa is committed to creating optimum conditions for investors to effectively carry out their projects, he added.

President of the Australia - Vietnam Business Council (AVBC) Marco Zammarelli vowed that the organisation will accompany Vietnamese and Australian businesses in seeking and realising trade and investment opportunities between the two countries.

Meanwhile, Grame Barty, International Trade Advisor to Business NSW, said Vietnam is one of the three emerging markets that Australian firms are highly interested in, so Vietnamese businesses should grasp chances to work with the Australian side. He held that information technology and construction materials are the sectors through which Vietnam can enter the Australian market.

Dr Nigel Palmer, Senior Policy Manager for skills and education with Business NSW, perceived that the two countries share common challenges and opportunities. Manufacturing is a sector boasting considerable cooperation opportunities, aside from trade and education - training. These opportunities could be promoted by optimising the unused capacity, strengthening ties in education and training, and improving the recognition of international certificates.