At the meeting, White said the council is currently promoting several investment initiatives in Vietnam, including a wool processing project, the entry of a gluten-free food manufacturer into the Vietnamese market, and cooperation between Australian and Vietnamese firms in hospital operations.

He noted that the wool processing project, valued at around AUD80 million, is planned to operate in both northern and southern Vietnam, covering dyeing, spinning and weaving processes. Around 95% of its output is expected to be exported to European markets, reflecting Vietnam’s potential role in global supply chains.

The council is also proposing to link Australian business councils with individual member states of the Association of Southeast Asian Nations to form a network supporting business operations.

White added that leaders of the Queensland state government, including the trade minister, are keen to strengthen cooperation with Vietnam. The Gold Coast, a well-known coastal tourism hub, is also considering establishing a sister-city relationship with Ho Chi Minh City.

For his part, Ambassador Tam welcomed the council’s efforts to enhance cooperation between businesses in Queensland and Vietnam. He expressed support for the idea of establishing a business network to promote cooperation and build production and supply chains between Australian and ASEAN enterprises.

As Chair of the ASEAN Committee in Canberra in the first half of 2026, he said he would engage with ASEAN ambassadors and representatives in Canberra to advance the initiative.

The ambassador also voiced interest in expanding cooperation in areas where Queensland has strengths, including quantum computing, ocean research, energy, education and tourism. He expressed confidence that the council would continue serving as an effective bridge linking Queensland and Vietnamese localities.

Vietnam, Australia boost cooperation in fintech

As Vietnam accelerates digital banking and develops an international financial centre, cooperation with Australia in financial technology (fintech) and regulatory technology (regtech) is expected to unlock significant opportunities for building a modern, transparent, and globally connected financial ecosystem.