The Victorian Government announced today it will be setting up the 23rd Trade and Investment office in Vietnam's Ho Chi Minh City to deepen Victoria's relationship and drive new trade, investment and exchange opportunities for Victorian and Vietnamese businesses.
Vietnam is Australia's fastest growing export market in Southeast Asia, and Victoria's Southeast Asia Trade and Investment Strategy has identified Vietnam as a priority market and emphasises opportunities to grow Victoria's higher education and vocational education services.
"Victoria has the largest overseas presence of any Australian state and our new office in Vietnam will further boost trade and investment, creating more opportunities for Victorians." Minister for Jobs, Innovation and Trade Martin Pakula
The country of Vietnam is one of Southeast Asia's powerhouses and emerging economies of the 21st century that's experiencing strong economic growth and is open to enhancing two-way economic ties with Victoria.
More than 13,000 Vietnamese students are enrolled in Victorian educational institutions, and Vietnam accounts for Victoria's third largest source of international students, which has played a significant role in strengthening our connections with the country.
Since launching economic and political reforms in 1986, Vietnam has achieved remarkable economic growth and development. Vietnam's export-oriented economic model has remained strong in the face of weak global trade, providing significant export opportunities for Victorian businesses in a range of sectors.
Victoria already has a network of prosperous business collaborations and established Victorian Government Trade and Investment offices in Kuala Lumpur, Jakarta and Singapore.
Avalon Airport - the gateway for Vietnam
The announcement came on the back of the government's plans, also announced today, to provide Avalon Airport as the gateway for VietJet Air to start operating direct flights to Ho Chi Minh City from around mid-2020.
The new services will help build on the 50,000 tourists who visited Victoria from Vietnam in the past year and will contribute to the Victorian Government's goal of increasing visitor spending in Victoria to $36.5 billion by 2025. Since 2016, the Governor of Victoria and Victorian ministers have visited a number of Southeast Asian countries, including Vietnam.
"From tourism to education, our relationship with Vietnam continues to go from strength-to-strength." Premier Daniel Andrews
