Australia had 320 valid foreign direct investment (FDI) projects worth over 1.65 billion USD in Vietnam by the end of 2014, ranking 19th among 101 countries and territories investing in the country, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).

In 2014 alone, Australia funneled 142.84 million USD into Vietnam through 24 new projects and 6 existing projects.

The Nickel's 136 million USD project in Son La province. Photo: nickelmines

FIA’s Director Do Nhat Hoang said Australia has become an important investment partner of Vietnam, adding that the two governments should work to create more favorable policies so as to enable the respective business communities to forge strong links, further promoting trade and investment cooperation between the two nations.

Economic experts are forecasting increasing amounts of foreign capital flow into Vietnam in the coming years, including additional projects from Australia.

As of December 15, 2014, Australian investors have invested in 18 of 21 national economic sectors in Vietnam, though they have focused primarily on the processing and manufacturing industry with 119 projects totaling 1.03 billion USD, or 62.7 percent of the country’s total investment in Vietnam.

Australian investors are currently operating in 39 of the 63 provinces nationwide, most notably in the southern province of Ba Ria-Vung Tau with 11 projects valued at 252.17 million USD, or 15.3 percent of Australia’s total registered capital in Vietnam.

Amr Nickel Limited is the largest Australian investor in Vietnam, with a 136 million USD project in the northern mountainous province of Son La, specializing in exploring, exploiting, processing, and exporting ores. FBG Vietnam Holding Pty Ltd., is closely following with a beer and beverage production project worth 126.4 million USD in the Mekong Delta province of Tien Giang.

Source: VNA