Processing-manufacturing industry attracts most Australian investments: Ministry

Vietnamese Prime Minister Pham Minh Chinh speaks at the Australia-Vietnam Business Forum. (Photo: VNA)

Hanoi (VNA) – The processing and manufacturing sector has lured the most Australian investments in Vietnam, the Ministry of Planning and Investment reported.

The ministry said Australian businesses have invested in 631 projects in the Southeast Asian nation, with a total registered capital of 2.04 billion USD.

Among the 18 sectors in which Australian firms have poured capital into, processing and manufacturing received the most with 133 projects worth 954.68 million USD, followed by lodging and catering services with 31 projects valued at 154.32 million USD.

The agro-forestry-fishery sector ranks third with 25 projects and 120.04 million USD, according to the ministry.

Among 45 cities and provinces receiving Australian investments, the southern province of Ba Ria - Vung Tau takes the lead with 16 projects worth 392.21 million USD, followed by Ho Chi Minh City and Hanoi.

Processing-manufacturing industry attracts most Australian investments. (Photo: VNA)

Vietnam has so far attracted 39,553 FDI projects worth 473.1 billion USD, with nearly 300 billion USD disbursed.

Meanwhile, Vietnam has injected more than 550 million USD into over 90 projects in Australia.

The bilateral trade stood at about 14 billion USD last year, making the two countries among the top 10 trade partners of each other./.

VNA