Vietnam

The economic relationship between Vietnam and Australia is well developed. In March 2018, both countries signed a Joint Statement on the Establishment of a Strategic Partnership between Vietnam and Australia which outlined the commitment to a strategic partnership.

Total two-way trade between Australia and Vietnam in 2019 was valued at $15.5 billion. Vietnam is Australia's twelfth largest trading partner, and Australia is Vietnam's seventh largest trading partner. The number has been increasing rapidly since.

There have been more investors and companies from Vietnam seeking investment opportunities in Australia and vice versa. Australia currently has 477 projects for investment in Vietnam with a total registered capital of approximately AUD2.8 billion, ranking 20th out of 132 countries and territories with the highest investment capital in Vietnam. As at 2019, Vietnam had 64 investment projects in Australia, with a total value of nearly AUD552.1 million.

To be able to identify and capitalise the opportunities this relationship presents, among other things, investors have to successfully navigate a number of challenges arising from unfamiliar tax and regulatory regimes and business customs, as well as language and cultural differences.

Our Australia Vietnam Business Practice assists Vietnamese investors and businesses to invest and grow in Australia and assists Australian companies looking to enter Vietnam.

Vietnam market insights

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