Binh Duong promotes investment with seminar in Australia

Binh Duong provincial authorities on May 27 organised a seminar in Sydney introducing the southern province’s potential and investment opportunities in a bid to attract Australian investors.

Illustrative image (Source: VNA)

In his remarks, Vietnamese Consul General to Sydney Nguyen Dang Thang said Binh Duong is the first province in Vietnam to arrange an official visit to Australia after the COVID-19 pandemic outbreak.

Boasting a stable socio-political environment, a favourable legal framework, continuously improved infrastructure and a population of nearly 100 million, of whom 70 percent are young and educated, Vietnam is poised to become a favorite destination for Australian investors, said the diplomat.

In 2021, despite the pandemic, the nations’ two-way trade soared 49.45 percent year-on-year to exceed 12.4 billion USD. In the first four months of 2022, their trade value hit 4.8 billion USD, up 32.37 percent annually. As of March this year, Vietnam had recorded 545 Australian-funded projects worth close to 2 billion USD.

Chairman of the Binh Duong People’s Committee Vo Van Minh Tuan pledged to create best conditions possible for foreign investors, particularly those from Australia.

Andrew Parker, Senior Trade & Investment Commissioner for ASEAN at Investment New South Wales, said alongside ASEAN, Vietnam is always a favourite destination of Australian investors, keen on food, software and service sectors.

He vowed to assist Australian firms in expanding trade-investment relationships with their ASEAN and Vietnamese peers.

At the seminar, the Investment and Industrial Development Corporation (Becamex IDC), one of the biggest real estate companies in Vietnam, and the Australia Vietnam Business Council (AVBC) signed a memorandum of understanding (MoU) on business development cooperation.

On May 25 and 26, the Binh Duong People’s Committee, Vietnamese Embassy and Becamex IDC also held an investment promotion event in South Australia’s Adelaide city. On the occasion, Becamex IDC signed a cooperation MoU with the local Commercial & General Group./.

VNA