Australia promotes business opportunities with Vietnam
VOV.VN - The Australian Government is helping to boost trading ties with the nation through the Australia-Vietnam Enhanced Economic Engagement Grant Pilot Program (AVEG 2021), with a total of approximately US$2 million being given in support of local businesses.
Australian Minister for Trade, Tourism and Investment Dan Tehan stated that within the framework of the AVEG scheme, the Australian Government has provided AUD2.5 million, equivalent to nearly US$2 million, in order to finance 28 small-scale projects. This is being done with the aim of creating greater economic opportunities and bolstering business co-operation between both sides in a wide range of fields, ranging from agriculture to education, digital technology to the supply chain of small and medium-sized enterprises.
This funding includes AUD 99,475, roughly US$78,000, used to scale up production technology, organic food certification, and trade between the two countries. In addition, AUD56,160, US$45,000, has been given to improve the capacity of firms belonging to 20 female entrepreneurs in Vietnam, whilst AUD95,000, US$75,000, will support 300 Australian businesses develop and diversify exports and supply chains to the Vietnamese market.
Minister Tehan said the two nations are making every effort to develop greater trading ties, with the primary goal of doubling investment and making it into each other's top 10 trading partners. Indeed, the strengthening of trade relations will help to create more jobs and investment opportunities for both nations.
According to the Australian Minister, the past two decades has seen two-way trade between grow by an average of 8.6% annually.