Ba Ria-Vung Tau (BRVT) province is an emerging economic hub in Vietnam. It is the gateway for international trade for the greater Ho Chi Minh City Metropolitan region, an area with a population of 21 million. BRVT is the fourth-most popular destination in Vietnam for foreign investment.
New developments in and around BRVT make it a competitive destination for Australian investment. Seaport infrastructure and a new international airport under construction in a neighbouring province promise to boost its international connectivity. The province is also the location of national LNG import infrastructure, which is likely to expand as Vietnam’s energy system is modernised.
Australian businesses have an established footprint in BRVT. Australian companies were among the first foreign firms to invest in the province after Vietnam’s economic reforms began in the late 1980s. These businesses understand the province’s regulatory environment, and are a resource for other Australian businesses seeking to enter the province.
This report suggests that Western Australia in particular has a unique opportunity to boost ties, having signed a memorandum of understanding with the province in 2020.