Nghe An makes good use of investment and trade opportunities with New Zealand and Australia
(Baonghean.vn) - Recently, a delegation from the Nghe An Department of Industry and Trade participated in the Vietnam Trade and Investment Promotion Delegation in New Zealand and Australia. The trip is expected to open up many opportunities for cooperation and development with businesses from other countries in the coming time.
Initial results
Since free trade agreements such as the ASEAN - Australia - New Zealand Free Trade Agreement (AANZFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) came into effect, import and export turnover between Nghe An and the Australian market has grown significantly.
According to the Department of Industry and Trade, in 2022, Nghe An's total export turnover to Australia reached 5.66 million USD. In the first 7 months of 2023, Nghe An's total export turnover to Australia reached 11 million USD, with main items: cement (7.42 million USD), footwear of all kinds (1.28 million USD), processed fruits and fruit juices (968 thousand USD), paving stones (570 thousand USD), steel sheets of all kinds (348 thousand USD), rice,... There are nearly 20 enterprises exporting to the Australian market such as Vissai Ninh Binh Joint Stock Company, Viet Glory Company Limited, Hoa Sen Group Joint Stock Company, Nhat Huy Stone Processing Joint Stock Company,...
Total import turnover from Australia in 2022 reached 4.52 million USD; in the first 7 months of 2023, it reached 2.67 million USD, including raw materials for production (1.13 million USD), animal feed and raw materials (878 thousand USD), hay (367 thousand USD),...
Cooperation between Nghe An and New Zealand is more modest; import-export turnover is not high. In 2022, Nghe An's export turnover to New Zealand reached 1.43 million USD; in the first 7 months of 2023, Nghe An's total export turnover to New Zealand reached 660.8 thousand USD, with 8 exporting enterprises with main products: footwear of all kinds (272 thousand USD), packaging of all kinds (174 thousand USD), rice (140 thousand USD), superfine white limestone powder (54 thousand USD), textiles, and paving stones.
There are 8 enterprises exporting to the New Zealand market: Viet Glory Company Limited, Vilaconics Joint Stock Company, Vinh Plastic and Packaging Joint Stock Company, Global Minerals Joint Stock Company, Nghe An Packaging Joint Stock Company,...
Nghe An's total import turnover from New Zealand in 2022 reached 619.2 thousand USD; in the first 7 months of 2023, it reached 592.6 thousand USD, including production materials (349 thousand USD), chemicals (212 thousand USD), machinery, equipment, tools, and other spare parts (30.9 thousand USD).
According to the assessment, Nghe An is one of the localities with great potential and advantages in attracting foreign investment in general, attracting investment from Australia in particular, but so far the results of attracting investment from Australia have not been commensurate with the potential of the parties. The representative of the Department of Industry and Trade said that so far Nghe An has not attracted large-scale investors with prestigious brands from Australia to implement large-scale projects that are a driving force for the socio-economic development of the province. Currently, Australian enterprises coming to learn about and invest in Nghe An are mainly enterprises producing agriculture and products serving agriculture.
Recently, Nghe An delegation participated in the Vietnam - New Zealand Trade and Investment Promotion Forum organized by the Ministry of Industry and Trade (Department of Trade Promotion, Vietnam Trade Office in New Zealand) in coordination with the Vietnamese Embassy in New Zealand, ASEAN - New Zealand Business Council and Auckland Chamber of Commerce; Vietnam - Australia Trade and Investment Promotion Forum organized by the Department of Trade Promotion, Ministry of Industry and Trade in coordination with the Vietnam Trade Office in Australia; participated in the Fine Food Exhibition Fair booth organized at the ICC Exhibition Center, Sydney.
Muscleinvestment cooperation association, business
Implementing the program of the Trade Promotion Agency, Ministry of Industry and Trade and the 2023 foreign affairs plan of Nghe An province, recently, the delegation of Nghe An Department of Industry and Trade participated in the Vietnam Trade and Investment Promotion Delegation in New Zealand and Australia. Participating in this promotion program, Nghe An enterprises introduced a number of products processed from eel, lotus, fish sauce, peanuts and handicrafts.
Joining the delegation, Mr. Hoang Minh Tuan - Head of Import-Export Department, Department of Industry and Trade said: This is a trade and promotion activity to promote bilateral import and export through organizing working sessions connecting import-export enterprises of Nghe An province with supply chains, Australian and New Zealand enterprises. Thereby, helping enterprises connect production and consumption of products of the province, especially agricultural, forestry and fishery products.
Australia and New Zealand are open economies with healthy competition, and local people's demand for Vietnamese products is increasing, especially agricultural, forestry and fishery products. Participating in the activities of the Vietnam-New Zealand and Australia Trade and Investment Promotion Delegation this time, Nghe An has more opportunities for business cooperation and promising investment with New Zealand and Australian enterprises, contributing to the dynamic development of all parties.
It is known that, participating in the trade program series, the Nghe An delegation and agencies, organizations and enterprises of the two countries Vietnam - New Zealand as well as Vietnam - Australia, have the opportunity to exchange on diverse import and export needs, place production orders and invest in each other's markets in the fields of infrastructure development of industrial parks, urban areas, real estate, industrial land, construction, housing design, building materials, agricultural products, food, cosmetics, pharmaceuticals, consumer goods, handicrafts, etc.
