Vietnamese goods eye greater access to the Australian market

Rapid growth in registered capital is encouraging, but unless these commitments are promptly converted into implemented projects and productive capacity, their contribution to economic growth will remain constrained.

Vietnam has established a considerable manufacturing and export base, giving it an advantage in attracting investment from European corporations. However, amid the restructuring of global supply chains, the key objective is not merely to attract more investment, but also to enhance the quality of investment and the value it generates.

Vietnam remains committed to deep, proactive, and substantive international economic integration. Two decades of WTO membership have demonstrated the importance of international integration in promoting economic reforms, expanding trade, attracting investment, and strengthening national competitiveness.

Air travel in Vietnam will grow at twice the global average, meaning the country will need to add 1,000 aircraft to its fleet over the next two decades, according to a recent forecast by Airbus.

By linking policy dialogue with businesses' practical needs, the forum is expected to help translate Vietnam–EU cooperation potential into concrete trade and investment opportunities. It will also provide an opportunity for both sides to make more effective use of the EVFTA, expand markets for Vietnamese goods and businesses, and tap into Europe's capital, technology and management expertise.

Viet Nam's e-commerce revenue is projected to grow by 23-25% annually to reach 93-97 billion USD by 2030, accounting for 18-19% of total retail sales of goods and consumer services revenue.

Discussions focused on promoting Thai Nguyen and Vietnamese tea brands, facilitating technology transfer, expanding exports and attracting investment to deep processing, logistics, e-commerce and tea-based tourism.

The seminar is expected to connect policymakers, businesses and innovation initiatives, expand cooperation in trade and services, and promote the development of a modern, smart Cao Bang Border Gate Economic Zone.

Deputy Minister of Industry and Trade Luong Hoang Thai highlighted the electronics industry’s significant contribution to national exports, calling on businesses and experts to analyse its import-export structure, identify challenges and propose solutions to improve its development prospects.

In its initial phase, the airport is expected to handle up to 366 flights per week, including 322 domestic and 44 international services.

During the journey from Hanoi to Luu Xa Station in Thai Nguyen, passengers can enjoy local tea and traditional cuisine, as well as performances of Then folk singing accompanied by the Tinh lute, a traditional musical instrument of ethnic communities in northern Vietnam.

Viet Nam recorded a trade surplus of an estimated 6.8 billion USD in October, marking the second consecutive month of surplus and narrowing the cumulative trade deficit for the first 10 months to around 12.7 billion USD.

According to Vice President of the Foreign Trade University Associate Professor Dr. Dao Ngoc Tien, the VEFTA’s long-term value lies largely in its non-tariff commitments, which establish institutional frameworks, principles and cooperation mechanisms with lasting economic impacts.

The trade office introduced four investment priorities of Vietnam. These includes renewable hydrogen production, covering electrolysis, offshore wind-to-hydrogen, green ammonia and liquid hydrogen exports; storage, compression, pipelines, transport networks and port logistics; industrial decarbonisation and fuel switching in heavy transport and shipping; and hydrogen applications in steel, fertilisers, chemicals, cement, power generation and heavy transport.

Experts emphasise that reducing logistics costs requires integrated planning, investment, operations and data sharing. Developing infrastructure projects separately, without considering regional demand and stable cargo flows, risks duplication and wasted resources.

Bill Giannikos, Director of the Global Services Centre and Data Centre at Aurecon Vietnam, said data centre development has to be planned alongside land, power, telecoms and supporting services. Investors need clear information on land availability, power capacity, supply timelines and connectivity before committing to large projects.

This year’s fair features 300 booths across 10,000 square metres, including 250 Vietnamese booths and 50 run by Chinese partners. They showcase a wide range of products, including agricultural produce, food, medicinal herbs, consumer goods, machinery, equipment, and handicrafts.

Thang tasked the operating agencies in both cities with completing the necessary conditions in October and working directly with financial institutions and investors to attract members and generate transactions in November, while ensuring legal compliance and financial security.

The figure rose 11% year on year, down from the 14% growth recorded in the first half of the year.

While the agreement awaits entry into force, businesses are recommended to review tariff schedules, product-specific origin requirements, the costs of origin certification, quality testing and compliance with importers’ standards. Early preparation will help them make effective use of the new opportunities.