HCM City (VNA) – The Trans-Pacific Partnership (TPP) agreement will open up great trade and investment opportunities for Vietnamese and Australian businesses, a business leader said at a workshop in Ho Chi Minh City on May 11.
Deputy Chairman of the city’s Union of Business Associations (HUBA) Pham Ngoc Hung said Vietnam is currently benefiting from a preferential tariff scheme which Australia applies for ASEAN member countries under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).
However, when the TPP officially comes into effect, Vietnamese businesses will enjoy greater favourable conditions in accessing the Australian market, he added.
A representative from Australia’s Victoria State authorities said Vietnamese businesses can invest in some of the state’s potential areas such as construction-real estate, finance, and beauty care service.
He noted local authorities will also provide special supporting programmes and treatments when Vietnamese businesses invest in certain sectors, such as pharmaceuticals and pharmaceutical equipment, green energy, international education, and food.
According to the Vietnam Trade Office in Australia, export turnover of the Southeast Asian country to Australia is modest compared to the Australian market’s demands.
Bilateral trade between the two countries reached 1.2 billion USD in the first quarter of this year, of which Vietnam shippe🅠d 635 million USD worth of goods to Australia and spent more than 560 million USD on Australi𒀰an goods.-VNA
The Australian Associated Press (APP) news agency on October 17 reported that business ties between Australia and Vietnam are expected to grow further after the TPP comes into effect.
The Australian government will provide 1 million AUD (720,000 USD) in annual aid for Vietnamese and Australian scientists to carry out joint medical and health care research projects.
Vietnamese and Australian businesses explored trade and investment opportunities that will be created by the Trans-Pacific Partnership (TPP) Agreement during a forum held in Sydney on February 1.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Illustrative market (Source: VNA)
