Illustrative image (Source: VNA)Vietnam’s fast and sustainable growth over the past many years has madethe market attractive to companies in NSW, said Karla Lampe, Director for InternationalEngagement & Market Development at NSW Treasury at an online conferenceheld this week to explore business opportunities in Vietnam.
She said that the advantages in population and the increase in themiddle-income people have created more trade and investment opportunitiesfor Australian firms.
Lampe said that Vietnam is currently the ninth largest tradepartner of NSW, stressing that NSW businesses place agritech, foodand beverage at the top priority for investment in Vietnam.
Meanwhile, Rebecca Ball, Australian DeputyConsul-General in Vietnam and Cambodia said that Vietnam’s attention to agritech development is agreat chance for Australia to engage in the market.
According to Ball, Australia can help Vietnam improve farmingproductivity, water resources, animal feeds and pest management, and origintrace through introducing effective agricultural solutions, thus responding tochallenges in food security and food safety.
In the first quarter of 2021, Australia’s export revenue of farm produce fromVietnam increased 44 percent year on year, she noted, adding that Vietnam islikely to become the fifth biggest export market of Australian agriculturalproducts in the end of 2021 from the current eighth position.
At the event, representatives from numerous of successfulbusinesses in Vietnam and Australian agencies shared their experience andanswered questions regarding Vietnamese agritech, food and beverage sectors./.
VNA
