Nghe An provincial delegation successfully organises trade and investment promotion activities in Australia

DNHN - On 2 April, in Melbourne, Victoria, Australia, Mr Hoang Nghia Hieu, Deputy Secretary of the Provincial Party Committee, and a delegation from Nghe An province met with leaders and members of the Vietnamese Business Association in Australia.

The delegation included: Ms Nguyen Thi Thu Huong, a Member of the Standing Committee and Head of the Provincial Party Committee’s Propaganda Department; Mr Nguyen Van De, Vice Chairman of the Provincial People’s Committee; Mr Nguyen Viet Hung, Director of the Department of Home Affairs; Mr Phung Thanh Vinh, Director of the Department of Agriculture and Rural Development; Mr Hoang Sy Kien, Director of the Department of Construction; Mr Hoang Quoc Viet, Director of the Department of Natural Resources and Environment; Mr Nguyen Manh Loi, Director of the Provincial Investment, Trade and Tourism Promotion Centre; Mr Nguyen The Than, Deputy Director of the Department of Foreign Affairs, and leaders of relevant departments and agencies.

Vietnamese Ambassador to Australia Pham Hung Tam attended the meeting and delivered a speech via video conference. The meeting was attended by representatives of more than 50 Vietnamese businesses and entrepreneurs in Australia.

Speaking at the meeting, Ambassador Pham Hung Tam highly appreciated the visit and working session of the Nghe An provincial leaders. The visit took place after Prime Minister Pham Minh Chinh’s official visit to Australia and his attendance at the 50th anniversary of the Australia-ASEAN partnership, upgrading the Vietnam-Australia comprehensive strategic partnership. The visit of the Nghe An provincial delegation was a practical activity to implement this relationship.

Ambassador Pham Hung Tam affirmed that Nghe An has abundant natural resources, a synchronous infrastructure, and solar and wind resources for developing renewable energy. Melbourne is a commercial centre with a dynamic start-up community and advanced technology. Nghe An and Australia have the potential for cooperation in the economy, especially in trade, investment, and tourism. The recent upgrade of the two countries’ partnership will create opportunities for both sides to expand their cooperative relationships. The Vietnamese Ambassador to Australia also suggested that entrepreneurs and businesses in Melbourne visit Nghe An to explore investment opportunities.

At the meeting, Mr Hoang Nghia Hieu, Deputy Secretary of the Nghe An Provincial Party Committee, expressed his pleasure in visiting the Vietnamese Business Association in Australia and meeting with its members. He also thanked the Association for its effective support in connecting and arranging the delegation’s activities in Melbourne.

Mr Hoang Nghia Hieu informed the Vietnamese Business Association in Australia about the socio-economic situation of Nghe An province in recent times, especially the positive results in attracting foreign investment. Implementing the Party and State’s foreign policy, Nghe An has been proactive in implementing its international integration strategy and promoting cooperation with countries around the world. However, the province’s major partners are still countries in Northeast Asia and ASEAN. For Australia, the province currently cooperates mainly in trade. There are a few cooperation projects in the field of investment.

In 2023, Nghe An’s export turnover to Australia reached over 21 million USD, with the main export items being cement, steel, footwear, processed fruits and fruit juice, and paving stones. The import turnover from Australia reached nearly 20 million USD, with the main import items being beef, animal feed, and production materials.

Regarding FDI investment, there were previously two projects in the province with an Australian investment capital of 16.5 million USD. However, the investor of Mavin Ausfeed, an Australian livestock feed production company, has withdrawn its capital and transferred it to the Vietnamese side.

Regarding Nghe An’s investment in Australia: Starting in 2019, TH Group has pioneered large-scale agricultural investment in Australia by acquiring, taking over, and developing three cattle stations in northern and western Australia with a total investment of 130 million AUD. On the island of Tasmania in Australia, TH Group is growing grapes to produce wine and will build resorts in the future to attract tourists, primarily international students.

In the recent past, Nghe An province has also organised some investment promotion seminars in the Australian states of Victoria (Melbourne), South Australia (Adelaide), and New South Wales (Sydney) (in 2017).

It can be said that the cooperative relationship between Nghe An and Australia has achieved certain results, but the results are still limited and do not match the potential of both sides.

Mr Hoang Nghia Hieu expressed his hope that the Vietnamese Business Association in Australia would continue to play its core role in connecting and encouraging Vietnamese businesses and entrepreneurs in Australia to promote trade and investment cooperation between businesses of the two countries. He also asked the Association to act as a bridge to introduce businesses to explore and invest in Nghe An province, especially in the following areas: high-tech industry; marine economy, coastal urban areas; tourism, training, finance and banking; high-tech agriculture; and agricultural and aquatic product processing.

At the meeting, Vice Chairman of the Provincial People’s Committee Nguyen Van De introduced some of Nghe An province’s potential to Australian businesses and affirmed that the province is determined to allocate appropriate resources to best meet the requirements of investors, including those from Australia. In particular, the province will make every effort to implement the “5 readiness” to welcome businesses to invest successfully, sustainably, and long-term in Nghe An.

On behalf of the delegation, the Vice Chairman of the Provincial People’s Committee answered and clarified questions and content that Australian businesses were interested in learning about Nghe An.

Mr Tran Ba Phuc, Chairman of the Vietnamese Business Association in Australia, said: “The Vietnamese community is very happy that the country’s position is being increasingly enhanced. In particular, during the visit of the Prime Minister, the two countries of Vietnam and Australia upgraded their diplomatic relations to the highest level. This is also a favourable condition for Vietnamese businesses to operate in Australia and promote bilateral trade and investment cooperation.”

Personally, Mr Phuc affirmed that although he has been away from his country for nearly half a century, he is still very proud to be a Vietnamese who has never stopped thinking about his roots and his homeland. Mr Phuc also believes that the community of about 6 million Vietnamese people around the world, by strengthening their unity and turning towards their country and homeland, is an inseparable part of the nation. Mr Tran Ba Phuc is currently a member of the Central Committee of the Vietnam Fatherland Front, Vice Chairman of the Association of Vietnamese Entrepreneurs Abroad, and Vice Chairman of the Club for the Beloved Truong Sa and Hoang Sa Islands.

Since 2010, Mr Phuc has established the Vietnamese Business Association in Australia (abbreviated as VBAA). The Association is recognised by both the Australian and Vietnamese governments and has, since its inception, become a safe bridge for Vietnamese entrepreneurs in Australia with businesses in their home country. To date, there are about 500 members, of which about 100 are members in Vietnam. The Association has actively supported Vietnamese businesses in exporting to Australia; promptly reflected the development situation of their homeland and country; and promoted trade, displayed, introduced, and brought Vietnamese goods to Australian supermarkets.

Mr Phuc pledged that the Association will continue to play its role as a bridge to promote trade, investment, and business between Nghe An and Australia. He believes that economic cooperation between Nghe An and Australia will flourish in the future, especially now that the two countries have established a comprehensive strategic partnership.

At the meeting, Australian businesses expressed their interest in Nghe An in areas such as agriculture (livestock production, vegetable and fruit processing, and finding partners to import peanuts from Nghe An). Some businesses expressed their desire to cooperate in real estate, finance, and information technology.

On this occasion, the Nghe An provincial delegation opened a booth for OCOP products from Nghe An at the Vietnamese Trade Promotion and Exhibition Centre in Australia, which is under the Vietnamese Business Association in Australia.

Nghe An has a large number of OCOP products with great potential. In addition to focusing on improving product quality, the province has been making efforts to connect with businesses to expand the market and find outlets for regional OCOP specialities.

Many OCOP products from Nghe An province are now exported to international markets, such as Duc Phong rattan and bamboo products (5 stars), which have been exported to markets in countries such as France and Germany; Dien Thai coriander (Dien Chau) has been exported to the markets of South Korea and Japan; Van Phan fish sauce (Dien Chau) has been exported to Japan; eel products (NAP) have been exported to Australia and Japan; and marine products from Bien Quynh have been exported to the United States.

The opening of the booth for OCOP products from Nghe An by the provincial delegation is an activity aimed at promoting and introducing Nghe An products to Australian businesses and consumers. There are more than 20 items on display at the booth, including various teas from Pu Mat Pharmaceutical Joint Stock Company, lotus tea from Que Bac Lotus Cooperative, brocade from Hoa Tien Cooperative, rattan and bamboo handicrafts from Duc Phong Co., Ltd., and handicrafts from Tra Lan Cooperative.

On this occasion, the Provincial Investment and Trade Promotion Centre and the Vietnamese Business Association in Australia signed a Memorandum of Understanding on investment, trade, and tourism cooperation.

The visit and working session of the Nghe An provincial delegation took place immediately after Prime Minister Pham Minh Chinh’s visit in early March this year, in the context of the two countries’ relations have made significant progress and achieved comprehensive results after more than 50 years of establishing diplomatic relations. In particular, during the visit, the Prime Ministers of the two countries announced the upgrading of Vietnam-Australia relations to a comprehensive strategic partnership.

Xuan Cuong