Nghe An province delegation works with the Vietnamese Consulate General in Sydney and the Australian business community

The delegation included comrades: Nguyen Thi Thu Huong - Member of the Standing Committee, Head of the Provincial Party Committee's Propaganda Department; Nguyen Van De - Vice Chairman of the Provincial People's Committee; Nguyen Viet Hung - Director of the Department of Home Affairs; Phung Thanh Vinh - Director of the Department of Agriculture and Rural Development; Hoang Sy Kien - Director of the Department of Construction; Hoang Quoc Viet - Director of the Department of Natural Resources and Environment; Nguyen Manh Loi - Director of the Provincial Center for Investment, Trade and Tourism Promotion; Nguyen The Than - Deputy Director of the Department of Foreign Affairs and leaders of relevant departments and branches.

Welcoming and working with the delegation was Mr. Nguyen Dang Thang - Consulate General of Vietnam in Sydney.

Pleased to visit the Consulate General of Vietnam in Sydney, Deputy Secretary of Nghe An Provincial Party Committee Hoang Nghia Hieu sent his best wishes and sincerely thanked Consul General Nguyen Dang Thang and the staff of the Consulate General for taking the time to welcome and support effectively in connecting and carefully arranging the delegation's activities in Sydney.

Deputy Secretary of Nghe An Provincial Party Committee discussed with Consul General Nguyen Dang Thang about the socio -economic development situation of Nghe An province.

Accordingly, in 2023, the province's GRDP growth rate will reach 7.14%. In particular, attracting FDI capital is a bright spot, reaching nearly 1.6 billion USD in 2023, ranking in the top 10 provinces and cities attracting the largest FDI in the country; to date, Nghe An province has 135 registered FDI projects, with a total registered capital of more than 4 billion USD.

Comrade Hoang Nghia Hieu also informed about the cooperative relationship between Nghe An and Australian partners.

In particular, implementing the foreign affairs and integration policies of the Party and State, in recent years, Nghe An has actively and proactively deployed the international integration strategy, promoting cooperation activities with countries around the world.

Deputy Secretary of the Provincial Party Committee Hoang Nghia Hieu hopes that in the coming time, the Vietnamese Consulate General in Sydney will continue to support the province in activities to contact Australian businesses, create a bridge to introduce businesses, connect investment funds and partners to learn about and invest in Nghe An, especially in areas such as: High-tech industry; marine economy, coastal urban areas; tourism, training, finance - banking; high-tech agriculture; agricultural and aquatic product processing.

Consul General Nguyen Dang Thang expressed his pleasure to welcome the delegation of Nghe An province to visit and work in Australia; expressed his impression and congratulated the achievements in economic and social development of the province.

Consul General Nguyen Dang Thang assessed that the areas that Nghe An identified to attract investment from Australia were on target and discussed and suggested additional information to support Nghe An's investment promotion in the Australian market.

The Consul General also said that he is ready to support and connect to promote the development of the relationship between Nghe An province and Australian partners, contributing to the development of the province and the general relationship between the two countries.

On this occasion, the Nghe An provincial delegation had a working session with the Australian Business Council.

Attending the meeting were Mr. Frank Alafaci - Chairman of the Australian Business Council; Mr. Nguyen Minh Hoan, Chairman of the Vietnam Business Association in Sydney; Mr. Tran Dang Hue, Pham Vu Lam, Vice Chairman of the Vietnam Business Association in Sydney and businesses and investors in various fields....

Mr. Frank Alafaci - President of the Australian Business Council speaking at the meeting. Photo: Minh The

Businesses speak and explore investment opportunities in Nghe An. Photo: Minh The

Sydney is known as an innovative commercial center, Australia's largest economy with strengths in finance, education, manufacturing, technology, trade and tourism. The working session with Sydney businesses is expected to open up many activities to contact businesses, creating a bridge for Australian businesses to come and learn about and invest in Nghe An, especially in the areas that the province prioritizes attracting such as: Industrial production of equipment, electronic components, information technology, telecommunications; manufacturing of components, automobile assembly; pharmaceutical processing; high-tech agriculture; financial services, banking, insurance, logistics; training of high-quality human resources; resort and ecological tourism....

Leaders of Nghe An province presented souvenirs to the Vietnam Business Association in Sydney. Photo: Minh The

Through introducing the basic features of Nghe An's natural and social conditions and economic achievements, Vice Chairman of the Provincial People's Committee Nguyen Van De stated that Nghe An province sees great opportunities for the province to cooperate with Australian partners, especially after the two countries upgraded their relationship to a comprehensive strategic partnership during the visit of Vietnamese Prime Minister Pham Minh Chinh to Australia last March, in which promoting economic cooperation is one of the strategic goals of the two countries. The legal frameworks that have been built by the Vietnamese State are stable, transparent, and favorable for foreign enterprises, including Australian enterprises, to continue operating, expanding their scale and developing long-term in Vietnam, especially in areas where Australia has strengths and Nghe An has needs.

Representatives of Nghe An province delegation took a souvenir photo with the Australian Business Council. Photo: Minh The.

Vice Chairman of the Provincial People's Committee Nguyen Van De affirmed that the province will be determined to allocate adequate resources to best meet the requirements of investors, including investors from Australia. In particular, efforts will be made to implement the "5 Readinesses" to welcome businesses to invest successfully, sustainably and long-term in Nghe An.

At the meeting, on behalf of the delegation, the Vice Chairman of the Provincial People's Committee answered and clarified questions and contents that Sydney businesses attending were interested in learning about when investing in Nghe An. Representatives of a number of state agencies and Australian businesses expressed their desire to promote exchanges and cooperation between the parties, creating conditions for agencies and businesses to have the opportunity to learn and cooperate in industry, trade and investment more effectively.

Speaking at the meeting, Consul General Nguyen Dang Thang said: After more than half a century, Vietnam and Australia now have an important partnership, based on mutual respect and common interests. This relationship has grown exponentially over the years and become comprehensive, from socio-economic cooperation, people-to-people exchange to cooperation in education, science and technology. Five years after establishing the Vietnam - Australia Strategic Partnership (in 2018), the two countries have upgraded their relationship to a Comprehensive Strategic Partnership.

BNA_Thanh Huyen 4.JPG — Vietnamese Consul General in Sydney Nguyen Dang Thang speaks at the meeting. Photo: Minh The.

The Consul General believes that Nghe An and Australia have great potential for investment cooperation, especially in developing high-tech industrial projects, supporting industries, and high-tech agriculture. The Consulate General of Vietnam in Sydney is ready to act as a bridge between Nghe An province and investors, organizations, and companies wishing to learn about the market as well as the possibility of investing in potential fields in Nghe An province.

Speaking at the meeting, Comrade Hoang Nghia Hieu, Deputy Secretary of the Provincial Party Committee, thanked Australian businesses for their interest in Nghe An province and expressed his belief that the achievements the two countries have made over the past half century, along with the upgrading of bilateral relations to a comprehensive strategic partnership, will be a solid foundation for a brighter future and an opportunity for economic cooperation between Nghe An province and Australia in the coming time.

On the same day, the delegation of Nghe An province visited and worked with Homart Pharmaceuticals Pty Ltd. Established in Australia in 1992, Homart Pharmaceuticals Pty Ltd. is a market leader in health supplements, skin care and dairy products.

Nghe An province delegation learns about Homart Company's products. Photo: Minh The.

After hearing about the history, development process, companies in the ecosystem and strategic vision of Homart, Deputy Secretary of the Provincial Party Committee Hoang Nghia Hieu expressed his joy when visiting Homart, affirming that this was a very useful activity during his working trip to Australia; and at the same time congratulated the company on its strong development steps.

Delegation from Nghe An province listens to an introduction about the ecosystem of Homart Company. Photo: Minh The.

The Deputy Secretary of the Provincial Party Committee said that according to experts, the scale of Vietnam's pharmaceutical industry is forecast to reach more than 16 billion USD by 2026, with an average spending per person on pharmaceuticals of about 52 USD/year, domestic demand and annual export of over 50,000 tons of various medicinal materials. This is a very large market. Since the Covid-19 pandemic, health care habits have changed, people of all ages in Vietnam focus on investing in disease prevention rather than treatment. Therefore, Vietnam is considered a fertile land for foreign pharmaceutical giants to expand their pharmaceutical empires and realize their stronger ambitions in the coming time.

Western Nghe An has great potential for developing medicinal herbs on a large and rich scale. Of which, there are nearly 1,000 medicinal herb species with precious species such as Puxailaileng ginseng, red polygonum multiflorum, 7-leaf 1-flower ginseng, yellow flower tea, golden orchid, codonopsis pilosula, red lingzhi mushroom, etc. This is the area with National Highway 7 crossing into Laos, which can connect with Xieng Khouang province, which is also a place with potential and advantages for developing medicinal herbs.

The delegation took souvenir photos with Australian businesses. Photo: Minh The.

Besides, currently, many enterprises in the province have been interested in researching, surveying and investing in the region such as Pu Mat Medicinal Materials Company, TH Group and many other enterprises have also committed to investing in developing medicinal material resources.

Nghe An has issued a Plan for the development of medicinal herbs to 2025 and a vision to 2030 (Decision 1187/QD-UBND/2018). With the increasingly rapid development of science and technology, the profits from growing medicinal herbs are increasingly higher and surpass those from growing traditional food crops and forestry trees.

Deputy Secretary of the Provincial Party Committee Hoang Nghia Hieu wished the Company continued strong development and expressed his desire to cooperate with the Company to build raw material areas and medicinal plant factories in Nghe An and hoped to soon welcome Homart Company to Nghe An for investment survey.

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