Khan Horne, NAB Executive for Regional and Agribusiness, shares insights on how Australia’s agribusiness sector is seizing opportunities in Vietnam, following a recent NAB agricultural innovation tour to the country.
Khan Horne and Jason Strong
DESPITE an unpredictable geopolitical landscape and the cyclical nature of seasons and markets, Australia’s agribusiness sector continues to improve productivity and grow export value.
Among our export markets, Vietnam stands out as Southeast Asia’s fastest-growing economy and Australia’s most rapidly expanding destination for beef and live cattle.
Its burgeoning middle class and appetite for technology and innovation made Vietnam the ideal location for NAB’s recent agricultural innovation tour.
For more than two decades, NAB has organised agricultural study tours for customers to destinations including New Zealand, Indonesia, South America, China, and Japan. These trips foster international relationships, with delegations often meeting government officials to explore trade and export opportunities and networking with fellow travellers to establish connections which often last well beyond the tour.
Vietnam, with a population of more than 100 million people and a growing middle class seeking high quality produce, is attracting global attention. The rapid development of its service sector – particularly technology and IT – offers access to highly skilled talent, supported by a favourable time zone.
This was evident in Vietnam’s agriculture sector, which is eager to adopt technology and innovation, and within NAB’s own operations in the country, where highly skilled, English-proficient professionals play key roles in technology, innovation, and data security.
As incomes rise, consumer preferences are shifting, driving growing demand for premium Australian beef and lamb. While buffalo remains the dominant red meat, Australian products are gaining traction thanks to strong branding, varied portion sizes and cuts to suit different budgets which appeal to both supermarkets and independent butcher shops.
During the tour group’s visit to the Vu Yen feedlot in Ho Chi Minh City, which raises both cattle from the region and Australian cattle, experienced red meat industry leader, Jason Strong, highlighted the important link between smallholder farmers in developing countries and the value-added opportunities live export brings to both Australian producers and Vietnamese consumers.
Vietnam’s strategic position as a trade hub has also attracted Australian food manufacturers. MWT Foods, for example, has operated its central macadamia nut shelling and food processing facility in Ho Chi Minh City since 1996. Chairman Michael Waring, who began with Australian walnuts before expanding to macadamias, describes Vietnam as a hotspot for the nut industry, making healthy food more accessible globally. He attributes his ongoing investment to the country’s import/export potential, technological advancement, and skilled workforce.
Opportunities for other Australian produce are emerging too, with a new agreement securing market access for Australian blueberries expected to be worth approximately $22 million over five years.
NAB has also invested in Vietnam, establishing Innovation Centres in Ho Chi Minh City and Hanoi. These Centres connect local technology talent with NAB and support the delivery of outstanding digital experiences. Vietnamese technology specialists work closely with teams in Australia and global partners, leveraging modern technologies to create excellent customer experiences.
The opportunity for international trade and building partnerships with Vietnam has never been stronger. On the ground, it’s clear that the exchange of food and services between our two countries is bringing us closer together.
Source: NAB