|The report by Perth USAsia is released online. (Photo: VOV)
This was noted in a report released Tuesday by Perth USAsia which hails Ba Ria-Vung Tau as pioneering the Australia-Vietnam economic partnership. The report attributed the southern province’s growing popularity among Australian investors to its seaport infrastructure, short distance to an international airport, and liquefied natural gas (LNG) import infrastructure.
Kyle Springer, the report’s author, said, "My report finds that a combination of features and the province's pro-investment stance makes it a vanguard opportunity for Australia to advance its economic ties with Vietnam. These features also make Ba Ria-Vung Tau one of the most attractive destinations for foreign direct investment in Vietnam".
He went on to say, "At a time when Australia is seeking to diversify its trade and investment partnership with growing economies, such as Vietnam, Ba Ria-Vung Tau is an ideal focal point to concentrate our diversification efforts."
Australian investors were among the first foreign investors to carry out projects in Ba Ria-Vung Tau after Vietnam started its economic restructuring in the late 1980s. Australian companies believe the province has the potential to expand its partnership with Australia in energy, supply chains, logistics, and education.