Australia and Vietnam share a strong two-way investment partnership, but there is significant room for growth.
Invested: Australia’s Southeast Asia Economic Strategy to 2040, pg. 172.
In 2022, the AVPI managed the Australia-Vietnam Business Champions Program, supporting the Australian Business Champions to Vietnam across a series of State and Territory roundtables to hear from Australian businesses on the trade and investment challenges and opportunities that Vietnam presents.
The AVPI collated these discussions into a series of policy notes, which formed the basis of the Australia-Vietnam Business Champions Recommendation Report. The Recommendation Report was launched in May 2023 at the Australia-Vietnam Economic Partnership Meeting, presenting 15 recommendations for intensifying commercial engagement across the Australia-Vietnam relationship to both countries’ Trade Ministers.
Recommendation 5 from the Australian Business Champions was to Establish a ‘Clearing House’ to Support Investment. It is a recommendation that has received a significant amount of traction from both government and industry, demonstrating its need to enhance the bilateral investment relationship.
Investment growth was identified as a key outcome of the Australia-Vietnam Enhanced Economic Engagement Strategy (EEES). Vietnam’s investment interest in Australia remains strong, particularly to secure supply in resources such as iron ore and live cattle, and Australian companies demonstrate interest in exploring investment opportunities in Vietnam. However, this investment growth has not kept pace with the increase in trade across the relationship.
This survey is the first step in addressing Recommendation 5. We’re seeking experiences, perspectives, case studies, lessons learnt, and points of frustration. They will help us go a long way in assisting the AVPI, with the support of the Department of Foreign Affairs and Trade (DFAT), in establishing this mechanism to understand and address investment challenges.