HCM City (VNS/VNA) - A delegation of Australian technology company executives is in Vietnam this week for the Australia Southeast Asia Business Exchange Mission that opened in Ho Chi Minh City on June 24.

The delegation comprising senior representatives of 13 DigiTech companies are showcasing their capabilities in cybersecurity, fintech and agtech, and raising awareness of business opportunities and possible investments by Australian and Vietnamese companies.

The visitors met HCM City’s leaders, industry associations, technology experts, venture capital firms, and potential business partners to better understand the local tech ecosystem and explore partnership opportunities.

The 2024 Australia – Vietnam Tech Forum held on June 25 by the Australian Trade and Investment Commission (Austrade) welcomed more than 100 Vietnamese participants from the tech industry.

As part of the mission, Austrade launched the Landing Pad programme for Vietnam at the forum. It is based in HCM City.

The Landing Pad will provide support for Australian businesses to drive technology exports to the region and boost Vietnam’s digital transformation.

“The Landing Pad programme will help market-ready Australian technology scale-ups to develop an effective go-to market strategy and secure partnerships in Vietnam, contributing to Southeast Asia’s continued digital transformation,” Daniel Boyer, Deputy CEO of Austrade, said.

The Vietnamese government and industry are prioritising the digitisation of services and looking to invest in new technologies.

In 2023 Vietnam’s digital economy expanded by 19% to 30 billion USD to rank third in Southeast Asia behind Indonesia and Thailand, according to Google, Temasek and Bain & Company. By 2030 it is projected to be worth 120–200 billion USD.

Rebecca Ball, senior trade and investment commissioner, said: “There is growing demand for cybersecurity, fintech and agtech solutions in Vietnam.

“The Vietnamese Government prioritises cybersecurity, data protection and privacy, which aligns with the Australia- Vietnam Enhanced Economic Engagement Digital Scoping Strategy.

"The fintech industry is growing exponentially here and is expected to reach 18 billion USD in value by the end of 2024.

“In terms of the agriculture sector, there are opportunities for technological solutions for water management, carbon capture, climate risk, IoT, and AI.

“Australia has the capabilities to help meet all these needs. And we are here to support Vietnamese and Australian companies partner together for a brighter digital future.”

A-SEABX is an Australian programme to grow trade with Southeast Asia and raise awareness of business opportunities and possible investments between Australia and 10 key markets, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Thailand, Cambodia, Laos, Timor-Leste, and Brunei.

In these markets, the business exchange will focus on 10 priority sectors: agriculture and food, resources, green energy transition, infrastructure, education and skills, visitor economy, healthcare, digital economy, professional and financial services, and creative industries./.