Peak bodies, business associations, industry organisations and other relevant stakeholders with an interest in enhancing trade and investment between Australia and Vietnam are invited to apply for funding under the Australia-Vietnam Enhanced Economic Engagement Grant Pilot Program.

In 2019, Vietnam's Former Prime Minister Phuc and Prime Minister Morrison agreed to develop the Australia-Vietnam Enhanced Economic Engagement Strategy (the Strategy) to solidify our shared commitment to trade and investment, liberalisation and economic connectivity, and help both countries take advantage of emerging market opportunities.

The Strategy, due for completion in late 2021, will provide recommendations to promote two-way trade, investment and other economic cooperation between the two countries and will focus on key sectors of current and future economic importance to both countries. The Strategy will include recommendations for measures to accelerate both countries' post-pandemic economic recovery.

The Department of Foreign Affairs and Trade (DFAT) will open a pilot grant program by the end of April/early May (subject to grant guidelines being approved). The grant opportunity will be advertised on GrantConnect.

The objectives of the grant opportunity are to:

• promote Australia-Vietnam bilateral economic engagement
• build industry, institutional and government-to-government links
• leverage existing partnerships and foster engagement with key stakeholders

The intended outcomes of the grant opportunity are to:

• increase public awareness of Australia’s economic opportunities in Vietnam
• develop enduring partnerships across sectors in Australia and Vietnam
• increase Australia’s capacity to effectively engage with Vietnam in existing and emerging areas of mutual economic interest.