According to the Australian Department of Foreign Affairs and Trade, a total of AUD5.1 billion in official development assistance (ODA) has been allocated under the budget plan for the 2025–2026 financial year. Of this, AUD2.2 billion will be designated for the Pacific region and AUD1.3 billion for Southeast Asia.

With regard to ODA projects across Southeast Asia, the Oceanian nation will continue to focus on climate change, accelerating sustainable and inclusive development, health security, and community resilience.

For Vietnam, Australia plans to allocate AUD96.6 million in ODA for the 2025–2026 financial year, marking an increase of nearly AUD1 million from the previous period.

Notably, Australian-funded projects in Vietnam will be geared towards fostering an inclusive and self-reliant economy, strengthening human resources to meet socio-economic development goals, enhancing resilience, and reducing climate emissions. These efforts align with Vietnam’s socio-economic development strategy for the 2021–2030 period.

Since the two nations established diplomatic ties in 1973, the Pacific country has provided a total of AUD3 billion in development assistance to Vietnam, including technical and financial support for the construction of two major bridges.

So far, the country has also supplied 26.4 million doses of COVID-19 vaccines and granted more than 7,000 scholarships to Vietnamese citizens.

Vietnamese economy soars beyond expectations: Australian expert

Layton Pike, a member of the Australia-Vietnam Policy Institute (AVPI)'s advisory board, said Vietnam's economic growth in 2024 has far exceeded expectations on the back of export recovery and stable foreign direct investment.