The inaugural outbound investment mission to Southeast Asia explored potential opportunities in Singapore and Vietnam. Australia's top institutional investors and fund managers gained a comprehensive understanding of investment prospects during the Australian Government's initial venture into Southeast Asia under the Southeast Asia Investment Deal Teams initiative.
Under the leadership of Minister for Trade and Tourism Senator the Hon Don Farrell, the delegation embarked on visits to Vietnam and Singapore. Accompanying them were representatives from Austrade, the Department of Foreign Affairs and Trade (DFAT), and Export Finance Australia. This mission marked Australia's largest-ever outbound business initiative in terms of value. The delegation comprised 16 organizations and 19 delegates, collectively managing assets worth A$2.5 trillion. Among them were prominent entities such as Future Fund, IFM Investors, Australian Super, Australian Retirement Trust, HESTA, Aware Super, Cbus, and various state government investment funds. Additionally, participants included Lighthouse Infrastructure, Plenary, Pacific Partnerships, Frontier Advisors, and the Association of Superannuation Funds of Australia (ASFA).
"Greater engagement with Southeast Asia is a priority for the Australian Government", says Minister Farrell. "We are determined to leverage the enormous opportunities for Australian businesses in the region". The mission commenced in Vietnam, starting with visits to Ho Chi Minh City on 3 June and Hanoi on 4 June. During this time, the delegation engaged with pivotal government departments and met with four prominent business groups in Vietnam: VinGroup, VinaCapital, FiinGroup, and Dragon Capital.
"Vietnam is a market to watch", says Rebecca Ball, Senior Trade and Investment Commissioner, Austrade Vietnam. "Its growth, ambition and demographic dividend make it an increasingly attractive investment destination in Southeast Asia. Its strategic location is a drawcard for corporates seeking to diversify their supply chains. Investors may wish to test the market in their future portfolio strategies".
During their time in Singapore, investors showed a strong interest in exploring how ASEAN's growth rates, energy transition, digitalization, and rapid urbanization are creating opportunities for Australian investors. Delegates interacted with local experts from DBS, Sembcorp, Singtel, CapitaLand, Macquarie Asset Management, IFC, ADB, and King & Wood Mallesons Australia. These discussions provided valuable insights into regional opportunity pipelines and strategies for risk management, leveraging blended finance, and establishing partnerships to facilitate market entry.
"Singapore offers easy access to regional decision-makers and capital partners", says Kirstyn Thomson, Senior Trade and Investment Commissioner, Austrade Singapore. "The Singapore Deals Team also covers Malaysia and Brunei. The team of Austrade, Export Finance Australia and DFAT specialists will help Australian investors access investable opportunities across ASEAN, while providing connections to help manage regional risks".
Under Minister Farrell's leadership, the delegation participated in the Indo-Pacific Economic Framework (IPEF) Clean Economy Investor Forum in Singapore. This prominent regional investment event was co-hosted by U.S. Secretary of Commerce Gina Raimondo and Singapore Prime Minister Lawrence Wong. Minister Farrell convened a roundtable with the Australian investor delegation to explore substantial opportunities in Southeast Asia and the advantages of outbound investments for Australia.
During the mission, two Deal Team hubs were inaugurated in Singapore and Ho Chi Minh City. Minister Farrell launched the Singapore Deal Team hub at the High Commissioner’s residence in Singapore, with attendance from 60 senior executives from Southeast Asia. These Southeast Asia Investment Deal Team hubs will collaborate with regional governments and businesses to pinpoint and facilitate outbound investment prospects for Australian investors.