Over the past 25 years AusCham Members have added to the economic growth of the country and assisted with the strengthening of the strategic alliance through trade and investment between Australia and Vietnam. In 2022, Vietnam and Australia became top 10 trading partners with Vietnam becoming the 'Leaping Tiger of Asia' filling the gap China left when trade relations stagnated recently. Australian and Vietnamese relations are committed to becoming high quality partners with opportunities going beyond exports of non-valued added commodities.
As a recent Asialink Business and CBA study demonstrated, Australian companies that develop “activating strategies” are the ones that take greatest advantage of the rapid growth, not just in Vietnam, but across the region. Yet the understanding, commitment and capability that underpins such strategies has proved elusive. Australian companies need Asia-capable staff, an understanding of local consumer preferences, and an in-market presence. These capabilities can drive material financial outcomes. A better understanding of local consumer preferences has been shown to improve revenue outcomes almost eight-fold.
This is where the role of the Australian Chamber of Commerce (AusCham) in Vietnam is so valuable. AusCham currently is supported by a National Board of Twelve Directors, a Ha Noi Office of 2 staff and and HCMC of 6 AusCham Members and 4 AusHub Members; the chamber has over 600 members as Individuals, SME's and large Corporate enterprises. Australia is well positioned to invest in Agri-tech, food processing, garment manufacturing, food export, services, heavy industry and university & vocational education. Vietnam had a 8.02% growth in 2022 which has been the fastest expansion in 25 years and also last year Australia became Vietnam’s 10th largest good trading partner which is a remarkable achievement towards realizing our shared vision to evaluate the relationship between our complementary countries.
If you are a business or individual; Australian or Vietnamese, and interested in expanding your business to take advantage of the positive and ever strengthening relations between Australia and Vietnam reach out to us HERE and join our valuable network.
