The move makes Vietnam the anchor market in a region that, in aggregate, is Queensland's fourth-largest export destination.
The bet is strategic: Vietnam economic growth rate reached 7.1 per in 2024, the fastest in Southeast Asia, and its leadership has staked national prestige on reaching double-digit growth in the years ahead. It is racing to become an economic powerhouse by 2045, sprinting from middle-income status to high-income within two decades.
But the nation’s climb up global value chains will hinge on reliable energy, critical resources, skills training, premium food and advanced healthcare - areas where Queensland has an edge.
Queensland's goal isn't simply trading volume, it is to make itself a trusted partner of that transition, and through Vietnam, to secure its position in Southeast Asia's expanding economy of $4 trillion.
"This expanded footprint will enable Queensland to deepen our engagement with Vietnam across trade, investment and education," said Queensland Minister for Finance, Trade, Employment and Training Ros Bates, who is leading the trade mission to Hanoi this week. "I believe Queensland's strengths are what Vietnam needs to achieve its ambitions and this growing partnership benefits both our economies."
The two offices in Hanoi and Ho Chi Minh City make Queensland the first Australian state to establish a regional hub in Vietnam, a market that generated more than A$4 billion ($2.6 billion) in Queensland exports in FY2024–2025, according to official statistics. Vietnam is the state's largest export destination in Southeast Asia and sixth largest globally.
That makes trade central to Minister Bates' agenda in meetings with Hanoi officials and business executives. Minister Bates held high-level talks with Deputy Minister of Agriculture and Environment Phung Duc Tien and Deputy Minister of Industry and Trade Phan Thi Thang, forging a strategic dialogue focused on deepening bilateral cooperation in sustainable development, trade, and agricultural innovation. Their meeting underscored a shared commitment to advancing resilient economies and mutually beneficial growth across both nations.
"From our discussions, we see significant opportunities to expand reliable supply to Vietnam's manufacturers, both high-quality coal for steelmaking and the critical minerals that underpin Vietnam's energy transition," Minister Bates said.
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