Vietnam-New Zealand Trade, Investment Cooperation An Important Pillar

The National Assembly leader encouraged New Zealand's investment in Vietnam
December 05, 2022 | 10:39

National Assembly (NA) Chairman Vuong Dinh Hue received leaders of New Zealand companies in Auckland on December 4 as part of his ongoing official visit to the country, VNA reported.

Mike Cronin, managing director of Fonterra, at a meeting with Vietnamese National Assembly chairman Vuong Dinh Hue (R) in Auckland. Photo: VOV
Mike Cronin, managing director of Fonterra, at a meeting with Vietnamese National Assembly chairman Vuong Dinh Hue (R) in Auckland. Photo: VOV

Hosting Mike Cronin, Managing Director of Co-operative Affairs at Fonterra, Hue lauded the group’s joint works with Vietnamese firms such as Vinamilk and Nutifood in the supply and distribution of milk in Vietnam’s market.

Fonterra has been operating in Vietnam since 1980, specialising in supplying and distributing dairy and food products for restaurant and hotel chains.

The NA leader suggested the group study to expand cooperation and investment in Vietnam. Fonterra can consider invest in dairy farms, milk processing plants to provide quality materials; as well as cooperate in management training, technology transfer, and investment in seed, products and equipment for Vietnamese farms and partners, Hue said.

He informed Cronin that Vietnam is continuing to improve the legal system, creating best conditions possible for investors and ensuring fair competition.

In response, Cronin appreciated Vietnam's increasingly substantive and effective investment attraction policies over the past time.

He said he would work with the group's leaders to study Hue’s suggestions on expanding cooperation and investment, especially regarding the opening of a network of distributors.

NA Chairman Vuong Dinh Hue (R) meets with John Fiso, chairman of Fiso Investment Group in Auckland. Photo: VOV
NA Chairman Vuong Dinh Hue (R) meets with John Fiso, chairman of Fiso Investment Group in Auckland. Photo: VOV

At his meeting with Fiso Investment Group CEO John Fiso and Director of Viet River Holdings Limited Nguyen Truong Khoa, the top legislator welcomed businesses that have joined many networking activities between Vietnamese and New Zealand firms and directly invested in Vietnam.

He said two key forums on education and trade-economy-investment collaboration scheduled as part of his visit are an opportunity for entrepreneurs and investors of the nations to beef up their ties in the time to come.

Fiso said currently his group is boosting investment again after the Covid-19 pandemic, focusing on the fields of healthcare, education and importing Vietnamese products.

Fiso Investment is also promoting investment activities to build high schools and vocational facilities in Vietnam, form labour cooperation, and support Vietnamese businesses to invest in New Zealand.

Khoa said that Viet River Holdings is promoting the import of Vietnamese pepper and coffee products to New Zealand, and wishes to bring Vietnamese workers to work in the market.

Hue recommended the businesses to propose to the New Zealand Government, so that the two governments will soon sign an agreement on labour cooperation, creating a solid legal framework for this field.

Don Ha, managing director of Re/Max New Zealand, and NA Chairman Vuong Dinh Hue at a meeting in Auckland. Photo: VOV
Don Ha, managing director of Re/Max New Zealand, and NA Chairman Vuong Dinh Hue at a meeting in Auckland. Photo: VOV

On the day, NA Chairman Hue also hosted Don Ha, CEO of RE/MAX, which is one of the major US real estate companies operating through the franchise system and is currently present in more than 110 countries and territories. The RE/MAX New Zealand was established in 1996.

At the meeting, Hue expressed his support for the company’s plan to import products of Vietnamese origin serving the opening of a sales centre and supermarket of household appliances in New Zealand.

Meanwhile, received by the NA leader on December 4, VietTechNZ's representative made proposals on connecting Vietnamese and New Zealand companies and their IT personnel. VietTechNZ works to link Vietnamese knowledge networks operating in the field of technology in New Zealand.

Taking into account these proposals, Hue affirmed that the Vietnamese Party, State and NA always support and create favourable conditions for the overseas Vietnamese community.

Hue is in Auckland for an official visit to New Zealand at the invitation of Adrian Rurawhe, speaker of the House of Representatives.

The Vietnam – New Zealand relations have developed substantively and effectively over the years, especially since the two countries established the Comprehensive Partnership in 2009 and upgraded it to the level of Strategic Partnership in in 2020. It’s noteworthy that Vietnam is New Zealand’s first strategic partner in the Asia-Pacific region.

Despite the negative impact caused by the pandemic, two-way trade turnover has grown well over the years, reaching USD 1.3 billion in 2021, up 26.7%. The first nine months of 2022 saw bilateral trade rise 23.4% year on year to hit USD 1.1 billion.

As of August 2022, New Zealand had 49 FDI projects with a total capital of USD 210 million, ranking 39 out of 139 foreign investors in Vietnam. At the same time, Vietnam had 11 projects in New Zealand worth USD 38.4 million.

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Hannah Nguyen

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