Australian business finds Vietnam an attractive Asian market

The Australian Financial Review, a leading daily newspaper, published an article on September 11 entitled 'Good name helps SMEs gain foothold in Vietnam', which reflects Australia's strong desire to do business in the Vietnam market.

Australian business finds Vietnam an attractive Asian market

My Thuan Bridge

The author of the article, Jason Clout, says 'With a population of around 90 million, strong economic growth and its proximity to China, Vietnam is one of the more appealing markets in Asia'.

He adds that 'Australia's assistance in the construction of the My Thuan Bridge in (South) Vietnam still resonates in commercial dealings in the rapidly developing country'.

'The bridge project and Australia's reputation have helped Australian companies gain a foothold in Vietnam', he concluded.

The development director of Lobana, a leading residential and commercial company, says that 'The bridge over the Mekong River (linking Tien Giang and Vinh Long provinces), which was completed more than decade ago and was a joint venture between the Australian and Vietnamese governments, has helped Australia's commercial reputation.

According to Head of global trade at HSBC, Andrew Skinner, 'We think it (Vietnam) will eclipse the growth in China's trade with Australia next decade, growing at around 8% by 2030'.

'Vietnam is a low-cost manufacturer and also has a young population - unlike some other countries in the region - which help its growth', Skinner said. 

 (Source: nhandannewspaperonline)