Aichi's Sister State

Home to more than 140 Japanese companies and growing, Victoria – Sister State to Aichi Prefecture – is an attractive investment destination for everything from automotive parts to biotechnology.

Three-fifths the size of Japan and home to five million people, the state of Victoria enjoys a strong history with Japan. Total trade between Victoria and Japan has grown from A$5.8bn in 1998/9 to A$7.0bn in 2002/3, with Japan’s exports increasing by nearly A$1bn to A$5.2bn.

Victoria’s main imports from Japan include passenger/transport motor vehicles and parts, while Japan’s main imports from Victoria include cheese and curd, aluminium, beef and woodchips.

Japanese investment

There are more than 140 Japanese companies operating in Victoria employing in excess of 10,500 (including more than 300 Japanese) people.

These companies cover a diverse cross-section of industries, including:

• automotive (Toyota);
• dairy products (Meiji, Snow Brand);
• seafood products (Yamasa);
• chemicals (Dai Nippon Ink);
• tourism (Japan Travel Bureau); and
• indigenous Japanese foods (examples include Hakubaku noodles and Sakata rice crackers).

Victoria also hosts all of Japan’s major trading companies – Nissho Iwai-Nichimen, Mitsubishi Trading Co, Marubeni Corporation, Mitsui Trading Co, Sumitomo Trading Co, and Toyota Tsusho, to name a few.

Further details of recent investments and partnerships can be seen here.

To further strengthen ties there is a Melbourne office of JETRO (Japan External Trade Organisation, affiliated with Japan’s Ministry of Economy, Trade and Industry). Invest Victoria operates the Victorian Government Business Office in Tokyo.

Sister states

Victoria and Aichi Prefecture are sister states, and Melbourne and Osaka are sister cities. The Victorian Government supports the ‘Business Partner City’ network initiative of the City of Osaka; Melbourne was invited to join as its only Australian member. A further link is the Melbourne-Osaka yacht race, held every four years since 1987.

Education

The state of Victoria has the second largest education sector in Australia and one of the world’s most advanced education systems. Recognised as a world leader in all sectors of education and training, Victoria has earned a reputation for providing high-quality educational opportunities for teachers and students.

Victoria Week, held from 26 June to 2 July at the Australian pavilion at the World Expo Aichi, celebrates 25 years of the sister-state relationship between Victoria and Aichi. The week-long event features a diverse range of exciting and innovative Victorian education and training activities, with an earlier showcase during Education Week from 6 to 10 June, organised by Australian Education International.

Food and beverage

Victoria’s food industry has a turnover of about A$17bn, employing more than 50,000 people and producing 30% of Australia’s output in this sector – from only 3% of Australia’s land mass.

Victoria’s rich supply of raw ingredients and its strong manufacturing base provide opportunities in areas such as dairy foods, meat, cereal-based foods, confectionery, and wine.

The state’s companies export to more than 100 countries worldwide. Kraft, Arnotts, Campbell Australasia, Effems Food, Heinz Wattie’s, McCormick Foods, Sara Lee, Smith’s Snackfood Company, Terra Harvest Foods, Cadbury Schweppes, Simplot, Nestle and Coca Cola all enjoy the advantages of Victoria’s strengths in this industry.

Connected

Australia is the eighth largest tele-communications market in the world. The state of Victoria boasts state-of-the-art communications infrastructure, with broadband optical fibre within 100 yards of every major office location in Melbourne. Victoria has a vibrant ICT sector employing around 65,000 people, one third of the Australian total, and is also home to the country’s telecommunications provider Telstra.

The industry enjoys a highly skilled workforce, an innovative environment and an outstanding research base. As a location, Victoria has a high quality business environment and infrastructure, a fast technology take-up rate, and security at competitive costs.

Hewlett Packard, Microsoft, Catapult Communications, Commerce One and THQ all have a strong presence in the state.

In the financial services sector, seven of the top 10 industry funds are based in Melbourne, and Victoria is home to 360 large corporate, public sector and industry funds, valued at around A$120bn – more than any other Australian state.

A competitive location

Victoria is a competitive and strategic business location, with strong economic fundamentals. In July 2004, Standard & Poor’s again affirmed Victoria’s AAA rating with a stable outlook, citing the state’s strong financial performance, low debt levels and the support provided by an ample and diverse economy.

A major selling point for Victoria is that it allows easy access to the entire Asia-Pacific region. Melbourne International Airport is Australia’s main 24-hour curfew-free airport, and in 2003 Melbourne overtook Sydney as the main cargo destination and exit point for the country.

With thanks to Invest Victoria.
>> www.invest.vic.gov.au