TIQ - Read Vietnam's market profile.

Why Vietnam?

Vietnam represents one of Asia’s most dynamic emerging markets and a key growth partner for Queensland exporters. With GDP projected to expand by 6.5% in 2025 — the strongest in ASEAN — and a government target of nearly 10% growth in 2026, Vietnam’s economic momentum is being driven by robust export performance, rapid industrialisation, and a young, increasingly affluent consumer base.

Vietnam’s transition to high-value industries, digitalisation, and a growing healthcare sector is creating opportunities for Queensland in technology transfer, education and training partnerships, and medtech and digital health as the private medical sector gradually liberalises.

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Expanding export opportunities in Vietnam

Queensland exporters are well placed to benefit from Vietnam’s deepening integration into global supply chains and its transition toward higher-value industries.

As Vietnam advances in manufacturing, digitalisation, clean energy, and healthcare, opportunities are expanding for Queensland businesses in energy and minerals, agrifood, education and training, technology transfer, and digital health.

Vietnam has risen from 24th place in 2012–13 to 6th place today as a Queensland export market.

Queensland’s advantage alongside Vietnam’s economic momentum

Queensland exporters can leverage Vietnam’s rapid economic growth and integration into global supply chains by positioning as a reliable partner in food security, resources, and clean energy.

Uncertain global tariffs present an opportunity for Queensland as Vietnam seeks additional partnerships and trade diversification.

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A display of Queensland beef during a trade show

Vietnam: A market with strong export growth

In 2024–25, Vietnam was Australia’s 12th largest export market, valued at $10.3 billion and Queensland’s 6th largest goods export market, accounting for 36.4% of Australia’s total exports to Vietnam, the most of any jurisdiction. TIQ supported outcomes to Vietnam valued at $50.5 million—a 64.5% increase on 2023–24 levels ($19.8 million).

Key trade agreements with Vietnam

Australia and Vietnam share multiple free trade agreements, supporting stronger trade.

Rising demand for premium food is driving exports — Queensland beef shipments grew 29% in 2024, with broader categories set to benefit from 7% forecast household spending growth. Coal dominated exports —Queensland accounted for 77.7% of Australia’s coal exports to Vietnam in 2024.

Queensland is a significant commodity exporter to Vietnam. As Vietnam's economy develops Queensland has an opportunity to be a key supplier of critical minerals.

Ho Chi Minh City skyline

Meet Shannon Leahy

Queensland Senior Trade and Investment Commissioner – Southeast Asia

Shannon leads Queensland’s Vietnam and Singapore operations and oversees TIQ’s Trade and Investment Commissioner, Indonesia.

He commenced as Queensland Senior Trade and Investment Commissioner to Southeast Asia in October 2023.

He brings to the role more than 15 years of international market development experience, leading trade and investment teams across ASEAN nations. Shannon’s leadership experience in the region extends to his roles as Austrade’s Trade Commissioner to Hanoi, Vietnam (2018-22), and Austrade’s Trade Commissioner to Indonesia (2013-2016). As Trade Commissioner to Vietnam, he led Austrade’s inward investment and trade diversification strategy.

Shannon holds a Bachelor of Arts (Asian Studies) from Flinders University and a Graduate Certificate in Finance from Deakin University.

Read more about Shannon.

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Shannon Leahy