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Dong Nai organizes trade connection with the Australian market

​On September 9, a delegation of the province led by Vice Chairman of the Provincial People's Committee Nguyen Thi Hoang arrived in Sydney, New South Wales (NSW), Australia to organize a conference to connect trade and promote commerce in 2022.



Vice Chairman of the Provincial People's Committee Nguyen Thi Hoang (3rd from the left) chaired the Conference on Trade Connection and Commerce Promotion in 2022.

Attending the conference were the Consulate General of Vietnam in Sydney Nguyen Dang Thang; representative of Vietnam's trade counselor in Australia; Mr. Roy Halabi - Vice President of Parramatta Chamber of Commerce, NSW; Mr. Mohamed Hage - Chairman of the Australian-Arab Chamber of Commerce and Industry; Mr. Gramham Kingsley - Chairman of Australia-Vietnam Business Association; Professor, Dr. Nghiem Long – Sydney University of Technology. Attending the conference were 25 Australian enterprises and nearly 20 Vietnamese enterprises.

At the conference, Vice Chairman of the Provincial People's Committee Nguyen Thi Hoang gave an overview of the economic situation and attracting foreign investment capital (FDI) in the province. Specifically, Dong Nai is a province with a high and stable economic growth rate, an average of over 8% per year in the period 2015-2020, an estimated increase of 8.52% in 2022, is one of the leading industrial development provinces of Vietnam with 39 planned industrial parks with an area of over 18,000 hectares, 32 industrial parks have been licensed for establishment, of which 31 industrial zones have been put into operation with a total area of over 10,000 ha and attracted over 85% of the land for lease.


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View of the Conference on Trade Connection and Commerce Promotion in 2022

Up to now, 44 countries and territories have invested in Dong Nai with 1,545 valid investment projects with a total investment capital of over USD 32 billion, of which there are 17 projects of Australian investors with a total investment capital of over over USD 62 million. In 2021, the total import-export turnover of Dong Nai province will reach USD 40.3 billion, of which export turnover will reach USD 21.8 billion, up 16.7% over the same period, in which exports to the Australian market reached more than USD 237 million; in the first 7 months of 2022, export turnover reached USD 15.4 billion, up 11.1% over the same period, of which exports to the Australian market reached USD 162 million USD (accounting for 1.05%). Some major export items to the Australian market include: footwear of all kinds, wood and wooden products, machinery and equipment, steel products, plastic products, chemical products.

Provincial leaders also assessed that Australia is a potential market for Vietnamese businesses to export goods and on the contrary Dong Nai market - Vietnam is a place with many favorable conditions for Australian businesses to trade and develop manufacturing business. However, up to now, the results of investment and trade activities between Dong Nai province and Australia have not been commensurate with the business potential of the two countries, so through this trade conference, it is hoped that the two sides' businesses can make the most of opportunities to increase trading, develop investment, production and business activities so that they can maximize the potential of enterprises of the two countries under the motto of mutual benefits.

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Vice Chairman of the Provincial People's Committee Nguyen Thi Hoang (3rd from the left) witnessed businesses signing contracts at the Conference on Trade Connection and Commerce Promotion in 2022

Many Australian businesses have been interested in finding out which areas Dong Nai province is calling for investment attraction. Along with that, Australian businesses also want to know what to pay attention to when investing in Dong Nai in particular and Vietnam in general.

Sharing at the conference, Vice Chairman of the Provincial People's Committee Nguyen Thi Hoang affirmed that Dong Nai government always accompanies businesses, commits to do their best, creating the most favorable conditions for businesses to quickly access the market in both countries; along with the development of the Logistic port system and the upcoming Long Thanh International Airport, which will complete phase 1 and put it into operation in 2025, it will contribute to shortening transportation time and costs for businesses.


Dong Nai's trade promotion delegation attended the 2022 Trade Connection and Commerce Promotion Conference in Sydney, New South Wales, Australia.

 

Responding to Australian businesses, Vice Chairwoman of the Provincial People's Committee Nguyen Thi Hoang said that Dong Nai province's orientation on prioritizing investment attraction is projects with high technology, new technology, clean technology, good administration. modern, high added value, logistics, strategic projects, innovation center, smart urban area, large commercial center around Long Thanh International Airport.

After the conference, businesses in Dong Nai province and Australian businesses also signed principle contracts​.


Author: Truong Ninh Loc

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