Australia is making it easier for businesses in Southeast Asia by offering longer visas and a $1.3 billion funding boost. Prime Minister Anthony Albanese shared these plans at a meeting in Melbourne, emphasizing the importance of Southeast Asia for Australia’s future trade.
The new measures include a $2 billion fund to support businesses, $140 million for infrastructure projects, and special assistance for Australian businesses in Vietnam and Indonesia. Australia is also extending business visas and a travel program for easier visits from Southeast Asian countries.
This move aligns with Australia’s goal to strengthen ties with Southeast Asia amid changing dynamics between the US and China. Albanese urges quick action, recognizing untapped potential in collaboration. Executives from major Australian companies, such as Commonwealth Bank of Australia, Rio Tinto Australia, BHP Australia, and Macquarie Group Ltd, are closely following these developments.
Aus-SEA Relations, Extended Visas, Aid Package, Australian Support, Southeast Asia Boost