At the workshop (Photo: VNA)
 
Sydney (VNA) – More and more Vietnamese enterprises have invested in housing and commercial property in Australia, said Vietnamese Consul General to Sydney Trinh Duc Hai at a workshop held by the Vietnamese Entrepreneurs Association (VEAS) in Sydney on November 3.

He cited Vietnam’s investment capital in real estate in Australia amounted to 1.7 billion AUD (1.2 billion USD) in the first eight months of this year.

Since Vietnam and Australia established a strategic partnership in March 2018, the bilateral ties have developed outstandingly across fields, Hai noted. 

As of August 2018, Australia ranked third among countries and territories investing in Vietnam, he said.

The workshop, which gathered more than 100 representatives of Vietnamese and Australian firms operating in real estate, offered an insight into the property market in Australia, as well as necessary procedures for foreign investment.

Experts said Vietnamese enterprises have big opportunities to invest in Australia’s real estate as the market has seen stable development for many years.

Established in February 2018, the VEAS plays a role in connecting and promoting the capacity of Vietnamese businesses in Sydney, thereby contributing to the development of Australia-Vietnam economic cooperation.-VNA