Top New Zealand businesses keen on Vietnam opportunities

Meeting with a high-ranking delegation led by Vietnamese Prime Minister Pham Minh Chinh on Monday, several New Zealand companies expressed interest in tapping investment and cooperation opportunities that Vietnam presents in several fields.

At the meeting in Wellington, they received updates on Vietnam’s investment policies, particularly in infrastructure development.

After being briefed about investment opportunities in Vietnam, the firms spoke about their capacities and intentions to invest or cooperate in the fields of education and training; science and technology; food import; training and supply of nurses to care for the elderly; climate change response; green transportation and energy transition; and sustainable, high-tech agriculture.

Among the companies present at the meeting were ANZ bank; dairy cooperative Fonterra; New Zealand GNS Science, a research institute focusing on geological resources, environmental and industrial isotopes as well as natural hazards; Auckland University of Technology; kiwi exporter Zespri; T&G Global Limited, grower and distributor of fresh produce; garment maker and exporter TMC; underground infrastructure constructor Reveal; biotech firm Biolumic; and New Zealand Wind Energy.

Speaking at the meeting, Vietnam’s Minister of Science and Technology Huynh Thanh Dat said the country was embarking on comprehensive education reforms and needed to learn from developed countries, including New Zealand.

He hoped investors in this field would work with agencies of both countries to boost education cooperation at all levels including research and technology transfers.

Minister of Agriculture and Rural Development Le Minh Hoan mentioned Vietnam’s ongoing project to develop one million hectares of high-quality and low-emissions paddy in the Mekong Delta. Australia’s SunRice has pledged to join this initiative, he said.

Welcoming Biolumic’s intention to introduce its solutions to increase paddy yield and quality with light application, Hoan offered to connect the firm with Vietnamese partners.

Christine Clark, CEO of Kalandra Education Group, offered 1,000 scholarships for training Vietnamese nurses.

Prime Minister Pham Minh Chinh said there was huge room for bilateral cooperation in economy, trade, and investment as well as other areas.

He said the cooperation would be facilitated by direct air routes between the two countries, which are set to resume soon.

Chinh suggested that New Zealand associations and businesses take advantage of bilateral trade agreements, cooperation frameworks, and new-generation free trade deals that both countries have signed.

These include the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); the Regional Comprehensive Economic Partnership (RCEP); the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA); and the Indo-Pacific Economic Framework for Prosperity (IPEF).

The PM called for wider access to each other’s markets, particularly mentioning the potential removal of non-tariff barriers for Vietnamese goods, especially agricultural and aquatic products.

He also suggested that New Zealand businesses boost investment ties with Vietnam in sectors like green economy, digital economy, circular economy, knowledge-based economy, science and technology, innovation, electronics, electric vehicles, semiconductors, new energy, critical minerals, biotechnology, healthcare, hi-tech agriculture and training of high-quality human resources.