Weekly Update from the Executive Director, Michael Roberts [18 October 2018]

Dear Members and Friends,

In the last few months the amount of enquiries we have received from Australian businesses currently based in other countries has increased quite significantly, and with trade issues affecting China in particular there is no reason at this point not to expect that trend to continue. Vietnam is strategically positioned to accommodate this move, and with significant development in industrial parks the manufacturing sector, for example, is well catered for in terms of developed infrastructure. At a recent forum that AusCham supported that was organised by Dong Thap Province, in conjunction with five other northern Mekong provinces, many incentives were tabled and discussed for businesses that might be considering investing in these provinces that presented an extremely attractive opportunity. There was a very obvious feeling of “being open for business” and being “welcomed with open arms”, which from personal experience of doing business in Australia over a twenty year period is something that I haven’t felt for some time. The Australian International Business Survey which has just been released by Austrade and other partners has indicated that respondents to the survey list Vietnam as the fifth top target market for the future, behind the more traditional markets of the USA, UK, New Zealand and Indonesia. With strong and consistent growth in GDP, stable government and the sense that the country is open for business, the Vietnamese economy is exuding a quiet confidence that is attracting plenty of attention.  Long may it continue.

Kind regards

Michael Roberts
Executive Director
Australian Chamber of Commerce in Vietnam

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