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Vietnamese enterprises promote business cooperation in Australia by Byron Patching

Vietnam is the sleeping giant of Australian trade opportunity – a fact grasped by Prime Minister Scott Morrison on his visit to strengthen the Hanoi-Canberra relationship.

At the recent Australia-Vietnam Business Dialogue in Sydney, organised by ASEAN supply chain specialist XAct Solutions, 120-plus C-level executives heard about a flourishing economy and a thriving trade relationship.

Trade between Vietnam and Australia topped US$7.7 billion in 2018, up 19% in 2017. Vietnam’s exports were up by 20% to nearly US$4 billion and imports by 18% to more than US$3.7 billion.

Vietnam is now Australia’s 15th largest trading partner, Australia is Vietnam’s seventh largest, and our partnership is prospering from free trade agreements. Australia has invested over US$2 billion in about 400 projects in Vietnam, while Vietnamese companies have begun to invest here, with around 50 projects worth over US$500 million so far.

XAct Solutions are at the forefront of Australian companies with a significant presence in Vietnam. We are building a national supply chain for VinCommerce, which owns the largest retail footprint in Vietnam, with over 2,200 stores and 56 supermarkets in more than 40 provinces and cities. This will give Vietnam its first fully integrated and standardised system for mass-scale retailing: from warehousing (dry, cool, cold and freezer storage), goods management, asset management and transport optimisation to IT control.

Vietnam is a prime nation for our skill set, which includes strategic and supply chain development, logistics, transport, real estate consulting and project management for corporations in the retail and industrial sectors in the Asia-Pacific region.

Now is a very good time to invest in Vietnam, thanks to its stability and high economic growth. At the Australia-Vietnam Business Dialogue, large Vietnamese corporations including TMS, Dai Nam Son and FPT presented their activities and proposals and invited the participation of Australian firms, particularly in real estate, trade, tourism, education and information technology.

Savvy Australian companies will see that Vietnam, with an increasingly affluent population of nearly 100 million, is where the action for the future is.

Vietnam – Australia Business Dialogue (English Version)

Vietnam – Australia Business Dialogue (Vietnamese Version)