Australia's security and prosperity are intimately linked with Southeast Asia. When taken together, Southeast Asia is expected to be the world's fourth largest economy by 2040. Its middle class is already close to 200 million people – a consumer market 10 times bigger than Australia's.
Invested: Australia's Southeast Asia Economic Strategy to 2040 (Invested), produced by Australia's Special Envoy for Southeast Asia, Mr Nicholas Moore AO, provides a practical roadmap to increase Australia's two-way trade and investment with the region and ensure we maximise the potential of our economic ties.
Invested builds on our strong and longstanding economic ties with the region, dating back to when Makassan seafarers travelled to Northern Australia to trade with First Nations People hundreds of years ago. Today, our economic relationship is underpinned by regional and bilateral free trade agreements, including the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) and the Regional Comprehensive Economic Partnership (RCEP).
Invested also complements the $1.28 billion Overseas Development Assistance Australia provides to Southeast Asia each year, which includes initiatives aimed at supporting the region's economic resilience.
The Australian Government is taking action to advance Invested, including through new and expanded initiatives to implement its recommendations. These initiatives are helping Australian and Southeast Asian businesses and investors connect and explore the vast opportunities on offer. Advancing Implementation [PDF 7.3 MB] | [DOCX 5.4 MB] provides an update on progress in the year since Invested was launched.
Initiatives announced in connection to Invested include:
- Investment Deal Teams across Southeast Asia are working with governments and business to identify and facilitate investment opportunities for Australian investors.
- The Investment Deal Teams Project Development Support Program supports project preparation activities that can facilitate Australian investment into Southeast Asia.
- The Southeast Asia Investment Financing Facility provides loans, guarantees, equity and insurance for Australian strategically important investments in Southeast Asia, including in clean energy and infrastructure development.
- The Australia-Southeast Asia Business Exchange aims to grow two-way trade through targeted business missions to Southeast Asia in priority sectors, after-visit support for Australian companies and marketing campaigns.
- New Landing Pads in Indonesia and Vietnam, building on the success of the Landing Pad in Singapore, are giving on-the-ground support to Australian tech services companies seeking to break into Southeast Asia's dynamic markets
- DFAT is reviewing Australia's Southeast Asian Free Trade Agreements to ensure the benefits of trade and investment are maximised.
- Australia is increasing opportunities to increase trade and investment, and build people-to-people connections through enhanced visa access to conduct business.
- The ASEAN-Australia Centre is a focal point for engagement with ASEAN and is focused on strengthening business, education, cultural and community connections between Australia, ASEAN Member States and Timor-Leste.
- The Professional Placements Program enables businesses from Australia and Southeast Asia to strengthen relationships, deepen expertise and access new markets through supporting young professionals in temporary work placements and exchanges.
- Australia for ASEAN (Aus4ASEAN) scholarships are for the next generation of leaders from ASEAN Member States and Timor-Leste to study in Australia.
- Partnerships for Infrastructure is driving inclusive and sustainable growth in the region through policy and regulatory reforms that support quality infrastructure projects and diverse infrastructure financing.
- The Mekong-Australia Partnership is a flexible program that responds to shared regional and transboundary challenges, and emerging needs.
Business Champions appointed under Invested are leveraging their experience and influence to promote greater trade and investment between Australia and Southeast Asia.
- Dr Nur Rahman, Executive Director Pristine Pacific Australia (Brunei Darussalam)
- Ms Tennealle O'Shannessy, CEO of IDP Education (Cambodia)
- Professor Jennifer Westacott AC, Chancellor of Western Sydney University (Indonesia)
- Mr Charles (Chick) Olsson, Chairman AgCoTech (Laos)
- Mr Tony Lombardo, Group CEO and Managing Director Lendlease (Malaysia)
- Ms Shemara Wikramanayake, CEO Macquarie Group (the Philippines)
- TBC (Singapore)
- Mr Shane Walden, CEO of ANL Shipping (Timor-Leste)
- Mr Peter Fox AM, Executive Chair Linfox (Thailand)
- Ms Louise Adams, CEO Aurecon (Vietnam)
Investment prospectuses, which provide information for Australian investors on the state of the economy, changes to the investment environment and priority sectors for investment.
Additional Government initiatives supporting trade, investment and business environment development in Southeast Asia
Australian Climate Finance Partnership (ACFP) is a concessional financing facility managed by the Asian Development Bank (ADB) and funded by the Australian Department of Foreign Affairs and Trade (DFAT) through a grant contribution of up to $140 million.
Australian Development Investments (ADI) is Australia's $250 million impact investment fund of funds. ADI makes early-stage and concessional investments into promising impact investment funds in the Indo-Pacific.
Private Infrastructure Development Group (PIDG) is an innovative infrastructure development and finance organisation funded by six governments, including Australia.
The FTA information portal allows businesses to search for a good or service they are looking to import or export, and understand what tariff rates, Product Specific Rules and Certificates of Origin requirements exist under all relevant agreements.
Other useful information
Country-specific guides for businesses and investors seeking to grow their business in Southeast Asia:
- Doing Business Guide: Brunei | Asialink
- Doing Business Guide: Cambodia | Asialink
- Doing Business Guide: Indonesia I Asialink
- Doing Business Guide: Laos | Asialink
- Doing Business Guide: Malaysia | Asialink
- Doing Business Guide: Singapore | Asialink
- Doing Business Guide: Thailand | Asialink
- Doing Business Guide: The Philippines | Asialink
- Doing Business Guide: Vietnam | Asialink