Figures from the Ministry of Planning and Investment (MPI) reveal that Australian companies have invested in 631 projects in Vietnam with total registered capital of $2.03 billion.

Investments primarily focus on 18 industries and sectors, including manufacturing and processing; accommodation and food services; fisheries and timber; agriculture and aquaculture; healthcare and social assistance; mining; arts, entertainment, and recreation; education and training; professional, scientific, and technical activities; real estate; wholesale and retail trade; and automobile and motorcycle repair.

Manufacturing and processing hold the lead, with 133 projects and capital of $954.68 million, followed by accommodation and food services with 31 projects and $154.32 million and agriculture and aquaculture with 25 projects and $120.04 million.

Of the 45 cities and provinces receiving FDI from Australia, southern Ba Ria-Vung Tau province ranks at the top with 16 projects and $392.2 million, then Ho Chi Minh City, with 309 projects and $231.1 million, and Hanoi, with 123 projects and $209.6 million.

Information from the Foreign Investment Agency at the MPI shows that Vietnam has attracted 39,553 FDI projects in total with registered capital of $473.1 billion. Disbursed FDI stands at nearly $300 billion, or 63.4 per cent of total registered capital.

Vietnam, meanwhile, has invested in over 90 projects in Australia with total investment of over $550 million. Bilateral trade reached approximately $14 billion last year, putting both countries among each other’s top 10 trading partners.

Building on a strong Vietnam - Australia relationship over the past 50 years, which was upgraded to a strategic partnership in 2018 and then to a comprehensive strategic partnership on March 7, 2024, during the ongoing official visit to Australia by Prime Minister Pham Minh Chinh, commercial cooperation and investment activities between the two continue are to be strengthened and expanded.