A memorandum of understanding has been signed between industry group HunterNet and Vietnamese conglomerate T&T Group.
A network of 150 companies, HunterNet signed the agreement in Hanoi to further cement the close links between Hunter businesses and the fast-growing Vietnamese economy.
Minister for Trade and Industry Niall Blair witnessed the MoU signing and said HunterNet is an example of how to pursue opportunities in the Association of South East Asian Nations (ASEAN).
“The great success of HunterNet in building business activity in Vietnam is testament to years of ground work in the region,” he said.
“This builds on the successful ASEAN-Australia Special Summit in Sydney earlier in the year and demonstrates that there can be huge payoffs for those that put energy into growing international markets.
“HunterNet have proved themselves as the ‘eyes and ears’ on the ground for Hunter businesses and the conduit to export success. They have showed that being located in regional NSW is no barrier to building international business … from processing plants to renewable energy projects. On the flip side, their work demonstrates that there’s a lot of Vietnamese companies interested in investing.”
HunterNet CEO Tony Cade said Vietnamese demand matches with the sectors of Hunter companies.
“There is trust in our expertise in the areas Hunter businesses thrive in, such as agribusiness, energy and resources, defence, and infrastructure,” Mr Cade said.
“Vietnam is one of the strongest of the fast growing ASEAN economies and is a lowcost country in terms of doing business. We are talking about 100 million people with large demands for food security and energy, along with a burgeoning middle class.”
HunterNet was founded 26 years ago to focus on bringing Hunter businesses more opportunity.
In the past six years, it internationalised its approach and has dramatically increased its focus on exports.
NSW merchandise exports to Vietnam are worth nearly $985 million, increasing over 25 per cent in the past five years.