Strengthening connectivity and investment cooperation between Thanh Hoa province and Australian partners

Attending the conference, on the side of the Thanh Hoa provincial delegation, there were members of the Provincial Party Standing Committee: Le Quang Hung – Chairman of the Provincial Party Committee’s Inspection Committee; Le Anh Xuan – Secretary of the Thanh Hoa City Party Committee; Tran Van Hai – Secretary of the Party Committee of the Provincial Agencies and Enterprises Bloc; leaders of a number of departments, localities and enterprises of Thanh Hoa province.

The conference was attended by nearly 50 guests who are members of the New South Wales Business Association, the Australia – Vietnam Business Council and investors and businesses in Australia.

Speaking at the conference, First Secretary of the Vietnamese Embassy in Australia Doan Thi Thanh Mai emphasized: In March 2024, Prime Minister Pham Minh Chinh paid an official visit to Australia, and the two sides agreed to upgrade their relationship to a Comprehensive Strategic Partnership – bringing the history of bilateral relations to a new chapter. This working trip of the Thanh Hoa delegation is a practical activity to implement the agreements reached during the Prime Minister’s recent visit. In addition, in the Southeast Asia Economic Strategy to 2040, Australia places Southeast Asia, including Vietnam, at the center of its economic policy and trade activities. This shows that Vietnam in particular, and Southeast Asia in general, are becoming an attractive market and receiving much attention from the Australian Government and businesses. In addition, this week, two important bilateral conferences, the Foreign Ministers’ Meeting and the Economic Partnership Ministerial Meeting between Vietnam and Australia, are taking place in Adelaide, to review the bilateral cooperation situation and outline new directions for the future.

The First Secretary of the Vietnamese Embassy in Australia said that the positive development of bilateral relations is thanks to the efforts and contributions of localities on both sides, including investment promotion activities of Thanh Hoa province. At the same time, he welcomed Thanh Hoa province for proactively and promptly seizing and taking advantage of this opportunity to promote the image of the province in particular and Vietnam in general as an ideal destination for investors. Hopefully, after this conference, Australian investors and businesses will better understand the investment and business environment and will come to learn about and implement projects in Thanh Hoa.

On behalf of the delegation, Deputy Secretary of the Provincial Party Committee Trinh Tuan Sinh warmly welcomed Australian investors and businesses to attend the Thanh Hoa, Vietnam – Australia connection conference held right at the economic – financial center of Sydney. As one of the pioneering localities in attracting foreign investment, Thanh Hoa has so far had 173 FDI projects in the area with a total registered investment capital of nearly 15 billion USD, ranking 8th out of 63 provinces and cities in Vietnam. For Australian investors, in Thanh Hoa province, there is 1 Nghi Son Industrial Lime Factory project with Australian investors contributing capital, with a total investment of about 14.2 million USD. In the first 9 months of 2024, the export value of goods from Thanh Hoa province to the Australian market reached about 56.5 million USD, mainly garments, footwear, etc. In particular, after Vietnam and Australia officially upgraded their Comprehensive Strategic Partnership, many opportunities have been opened up for businesses and investors of the two countries to cooperate more strongly and actively.

Based on the potential, advantages and clear orientation of Thanh Hoa province’s development goals in the new period, along with analysis of Australia’s strengths and areas of interest, Deputy Secretary of the Provincial Party Committee Trinh Tuan Sinh suggested that Australian businesses and investors study investment in Thanh Hoa in the following fields: high-tech agriculture associated with raw material areas and product processing according to the supply chain; energy industry; electronic equipment, components, telecommunications equipment, automation equipment in production; research on software development projects, digital technology, trade projects, logistics services, etc. Along with that, Thanh Hoa prioritizes attracting investment in the fields of sea tourism services, eco-tourism; enhancing educational exchange and cooperation; Training high-quality human resources, especially in areas where Australia has strengths and Vietnam is in great need today such as: semiconductor industry, artificial intelligence, digital transformation, green transformation, circular economy, finance and accounting… Especially supporting the improvement of English proficiency; supporting a number of scholarships and short-term courses for teachers and students of Thanh Hoa province.

The Deputy Secretary of Thanh Hoa Provincial Party Committee affirmed that Thanh Hoa province always “rolls out the red carpet” to welcome investors from all over the world, including Australian enterprises, to learn about and implement investment projects in the area. With the motto: “Harmonious benefits, shared risks”, considering the development of enterprises as the development of the province, Thanh Hoa will create the most favorable conditions within the framework of Vietnamese law for investors to implement projects in Thanh Hoa conveniently and effectively.

At the conference, representatives of Australian businesses and investors expressed their impressions of the potential, strengths, and diversity of production sectors in Thanh Hoa province. Sharing about business strategies and development orientations in the coming time, representatives of Australian business associations and investment funds said that the two sides need to find common points in terms of strengths, goals, and priorities to outline a clear roadmap for their cooperation and investment plans. At the same time, they focused on discussing specific issues related to investment in the two countries in general and in Thanh Hoa province in particular; especially issues related to institutions, markets, sustainable development, labor demand, supply and demand of construction materials, etc. Australian businesses hope to soon come to survey, seek opportunities, and implement investment projects in Thanh Hoa.

Concluding the conference, Deputy Secretary of the Provincial Party Committee Trinh Tuan Sinh emphasized: The success of the Thanh Hoa – Australia connection conference is an important first step to open up many cooperation opportunities between Thanh Hoa province and Australian partners; contributing to promoting the Comprehensive Strategic Partnership between the two countries to become increasingly in-depth and practical. At the same time, he hoped that the Vietnamese Embassy in Australia would continue to support and help Thanh Hoa province develop cooperative relations with Australian partners; Business Associations, Investment Funds, and the Australia – Vietnam Business Council would be a bridge for members of both sides to learn and cooperate. The Deputy Secretary of the Provincial Party Committee affirmed: Thanh Hoa is committed to accompanying and always being a reliable and long-term partner of enterprises; creating the most favorable conditions to support and connect businesses and investors of both sides to cooperate and invest effectively.