Vietnam to step up trade promotion with Victoria

The event was part of Trade Promotion Week being held between Vietnam and Australia and is scheduled to run from June 15 to June 25.

The scheme is being organised through the Vietnam Trade and Investment Office (VGTI), which has been inaugurated in Melbourne with a view to  building smart cities and accelerating sustainable development projects.

Frank Jaffer, managing director at Senko Advanced Components, underscored the importance of technologies used to build infrastructure for smart cities, saying the development of 5G networks plays a key role in this process.

Jaffer noted that Vietnam has plenty of opportunities for breakthroughs as it has prepared digital transformation platforms.

Delegates shared their various experiences in formulating strategies and deploying activities relating to sustainable development, with a specific focus on clean technology (Cleantech), STEM, and business transformation for key future industries.

A Trade Promotion Week is scheduled to be held during the event to introduce to Victoria state's potential in diverse areas, including technology, food, and beverage, with the occasion featuring the participation of 35 leading companies from the state.

Vietnam is Victoria's 13th largest market for two-way trade exchange, mostly in the fields of food and beverage and manufacturing, alongside education.

The Vietnamese community is also the fourth largest community in the state, numbering more than 72,000 people.

Le Huynh Minh Tu, deputy director of Ho Chi Minh City Department of Industry and Trade, said last year the city had exported goods worth US$850 million to Australia, a rise of 10% compared to 2019.

The southern metropolis also had 50 trade promotion offices in Australia, Tu said, adding that the event will open up a wealth of co-operation opportunities for businesses between the two countries in the future.