Heineken to shift production from Singapore to Vietnam and Malaysia
Dutch brewer Heineken will shift its brewing production from Singapore to Vietnam and Malaysia as part of its strategy to build a more agile regional supply approach.
Australia invested over 2 billion USD in 45 provinces and cities in Vietnam
According to data from the Foreign Investment Agency (Ministry of Planning and Investment), Australian businesses currently have 631 valid projects in Vietnam, with a total registered capital of 2.037 billion USD (accumulated as of February 22, 2024).
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Australian investment in Vietnam focuses on 18 industries and fields, the leading being the processing and manufacturing industry.
Specifically, Australian investors focus on 18 industries and fields, including the processing and manufacturing industry; Accommodation and food services; Agriculture, forestry and fisheries; health and social assistance activities; extractive; arts, recreation and entertainment; education and training; professional and scientific and technological activities; real estate business; wholesale and retail, car and motorbike repair.
Among them, the processing and manufacturing industry is leading with 133 projects and a total registered capital of 954.68 million USD; Accommodation and food services ranked second with 31 projects and a total registered capital of 154.32 million USD; The agriculture-forestry and fisheries sector ranked third with 25 projects, with a total registered capital of 120.04 million USD.
Forty-five provinces and cities of Vietnam have attracted Australian FDI projects, led by Ba Ria - Vung Tau with 16 projects and a total registered capital of 392.21 million USD, followed by Ho Chi Minh City with 309 projects, a total registered capital of 231.12 million USD and Hanoi with 123 projects, total registered capital of 209.63 million USD.
Vietnam and Australia have just celebrated the 50th anniversary of establishing diplomatic relations in 2023.
The two countries are currently among each other's top ten trading partners, with bilateral trade turnover reaching 13.8 billion USD last year.
By the end of December 2023, Vietnam had 92 investment projects in Australia, with a total registered capital of more than 552 million USD. Australia is one of the bilateral partners providing the largest source of non-refundable official development assistance (ODA) to Vietnam./.
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