Insights across
three markets.

Deloitte's 2026 State of AI in the Enterprise report — drawn from 3,235 leaders across 24 countries — reveals a growing gap between Australia and global peers. 61% of Australian companies report improved efficiency from AI, yet only 30% are using it to deeply transform ways of working (vs 34% globally). Most organisations remain in pilot mode: just 28% have moved 40%+ of AI pilots into production. The real challenge is not adoption — it is scaling from isolated use cases to enterprise-wide transformation. AI adoption among Australian SMEs surged from 40% in July 2024 to 69% by January 2026 (Intuit), with 79% of users reporting productivity improvements.

74% of brands consider digital transformation a top priority in 2025, yet KPMG research reveals that despite 73% of businesses accelerating their digital initiatives since 2023, only 31% report being satisfied with outcomes. The gap between intention and execution remains the central challenge. AI adoption, cloud migration and automation are the three highest-impact areas identified, with SMEs implementing AI reporting up to 20% reduction in operational costs. The MYOB Mid-Market Survey (Oct 2025) found 44% planning CRM upgrades and 48% citing operational efficiency as their primary driver — but only 7% have integrated AI into their actual products or services.

From 1 January 2026, Australia's mandatory and suspensory merger control regime requires ACCC notification for all transactions meeting defined thresholds — a fundamental shift from the previous voluntary system. Deals failing to obtain clearance are void and subject to significant penalties. Despite this regulatory change, PwC reports Australia's M&A market remained resilient throughout 2025 — selective but active, with deal activity skewing to larger transactions in Energy and Financial Services. Ashurst identifies technology, energy transition assets and real estate as the top sectors to watch in 2026. Global M&A value surged 40% to USD 4.9 trillion in 2025 (Bain & Co), with Australian mid-market dealmaking continuing steadily.

The Australian Business in Southeast Asia Survey 2025 — the largest in its nine-year history — reveals Vietnam has consolidated its position as the #1 expansion destination for Australian businesses in Southeast Asia. 61% of respondents identified Vietnam as a market they are considering for future growth, and 44% have concrete plans to expand into Vietnam this year — the highest proportion in the entire region. Two-way trade between Australia and Vietnam reached AUD 23 billion in 2025. Australia's Southeast Asia Economic Strategy to 2040 (Invested 2040) further cements Vietnam as a strategic priority — creating a structural tailwind for businesses entering now.

KPMG's 2026 residential outlook projects national house values rising 7.7% and units 7.1%, with momentum strongest in affordable segments. A critical policy context shapes the investor landscape: from April 2025 to March 2027, foreign persons are generally banned from purchasing established dwellings in Australia — investment remains permitted in new housing and large-scale redevelopment. New housing loan commitments hit AUD 385 billion in 2025 — a decade high. CBRE forecasts median apartment rents growing 27% between 2025–2030. Investor lending rose 31.8% year-on-year, with Perth, Brisbane and Adelaide leading growth for investors who can act decisively.

With national rental listings approximately 17% below their five-year average and 11% below year-prior levels, rental pressure continues across Australian capital cities. KPMG forecasts annual rent growth of ~3.5% through 2026–2027, while CBRE projects a 27% median apartment rent increase across 53 precincts by 2030. The supply crisis deepens: new dwelling completions are running 30% below the National Housing Accord target. This structural imbalance between supply and demand is creating consistent long-term rental yield resilience — particularly for investors who can secure well-located properties in undersupplied capital city markets before migration continues to drive demand.

The 2025 State of Australian Startup Funding confirms a clear rebound: AUD 5.48 billion raised across 390 deals — up 31% on 2024. Q4 2025 alone delivered AUD 2 billion. Global firms including Andreessen Horowitz, Bessemer Venture Partners and Lightspeed all backed Australian-founded companies, reflecting growing international confidence in the ecosystem. AI overtook Climate Tech as the top investment category — any founder seeking capital is now expected to articulate a credible AI strategy. However, deal count dropped 20% and the top 20 deals captured 58% of all capital — meaning only well-prepared, investment-ready founders with strong fundamentals attract disproportionate capital.

Australia's venture market saw AUD 993 million invested across 100 deals in Q1 2025 — its strongest opening quarter since early 2022. A key structural shift: Series B and C funding timelines are compressing as investor confidence returns, mirroring a broader global recovery trend. International capital is playing an increasingly important role from Series A onwards, as founders seek larger cheques and global scaling support — a sign of ecosystem maturity. Two unicorns were already announced in early 2026, pointing to a healthier pipeline. The ecosystem is maturing, consolidating, and increasingly rewarding commercial discipline over growth-at-all-costs narratives.

In March 2025, Air New Zealand signed a 5-year partnership with Tata Consultancy Services to place AI at the heart of operations — covering fleet management, crew scheduling, cargo digital transformation and digital retail. The deal was announced at a ceremony in Mumbai attended by NZ Prime Minister Christopher Luxon, Tata Group chairman Chandrasekaran and both CEOs. Air NZ CEO Greg Foran said TCS's depth in digital solutions had already delivered benefits in just a few months of early work. The partnership deploys TCS Aviana, an aviation-specific AI platform, alongside proprietary capabilities in intelligent operations, predictive maintenance and customer experience.

Digital adoption represents an NZD 8.6 billion productivity opportunity for New Zealand's small businesses — yet 59% of organisations still lack a digital talent strategy and 58% have no dedicated transformation budget (Workday Digital Agility Index). NZ SMEs in law, finance and IT are beginning to harness generative AI for automating routine tasks, but adoption remains uneven. The OECD has specifically identified NZ's digital skills gap as a critical structural barrier to productivity. For businesses already operating with manual or fragmented systems, this gap represents both a significant risk and a compelling opportunity to leapfrog competitors through targeted digital investment.

2025 marks the 50th anniversary of Vietnam–New Zealand diplomatic ties and the 5th anniversary of their Strategic Partnership. In October 2025, New Zealand sent its largest direct trade promotion mission to Vietnam in five years — over 20 companies across technology, education, agritech, healthcare and real estate. Bilateral trade reached over NZD 1.1 billion in the first nine months of 2025, with a joint target of NZD 3 billion by 2026. NZ Prime Minister Christopher Luxon led a high-profile business delegation to Vietnam in February 2025. ANZBC Executive Director Liz Bell described the delegation's goals as building "two-way partnerships and joint solutions" — not just export opportunities.

The NZ Ministry of Foreign Affairs and Trade's June 2025 market report describes Vietnam as "accelerating through headwinds" and explicitly identifies opportunities for NZ businesses in agritech, digital economy, green technology and education. Vietnam's Resolution 68 (May 2025) enhances private sector development within a socialist-oriented market economy — the most significant reform signal for foreign investors in years. Vietnam's government is targeting 8% minimum GDP growth near-term and double-digit growth from 2026–2030, creating sustained demand for the knowledge, technology and high-value exports that New Zealand specialises in. The report confirms NZ PM Luxon visited Vietnam in February 2025, leading a senior business delegation.

In December 2025, New Zealand's Parliament passed amendments to the Overseas Investment Act enabling Active Investor Plus (AIP) visa holders to purchase residential property valued at NZD 5 million or more, effective early 2026. The revised AIP visa (from April 2025) requires a minimum NZD 5M investment under the Growth Category, with indefinite permanent residence and only 21 days minimum stay over three years. By December 2025, 491 applications had been received covering 1,571 people, with NZD 771 million in committed investment — Americans account for 40% of applicants, Chinese nationals second. The policy specifically targets high-value capital while protecting the general housing market.

As of 1 April 2025, the revised Active Investor Plus (AIP) Visa is fully operational with two simplified investment categories: Growth (NZD 5M minimum, 3 years) and Balanced (NZD 10M minimum, 5 years). The visa grants indefinite permanent residence and can include a partner and children — with only 21 days minimum stay over the investment term (reduced from the previous 117-day requirement). The government agency Invest New Zealand (Invest NZ) has pre-approved a range of qualifying Growth Category funds. The contrast with Australia — which from April 2025 is banning foreign purchases of established homes — is stark: NZ is actively attracting international investment capital while AU tightens its market.

New Zealand has always produced startups with a global-first orientation — a consequence of its small domestic market. 343 agritech startups alone, led by companies like Halter (USD 198.8M raised, AI-powered livestock management), BioLumic and Robotics Plus. In late 2025, Icehouse Ventures closed Seed Fund IV at a record NZD 70M — more than double the original NZD 30M target — with 17 international LPs from the US, China, Singapore, India and Germany. Government-backed Aspire and Elevate funds provide co-investment from seed through Series B, alongside corporate VCs and angel networks. NZ's clean-tech, deep-tech and SaaS founders are increasingly being backed by international capital at earlier stages.

New Zealand's deep-tech VC Pacific Channel now manages NZD 125M+ AUM across Fund III and a new Australian Fund IV launched in 2025, with Elevate NZ backing Fund III with NZD 10M in May 2025. Focus areas include future of health, food, and sustainability — sectors aligned with NZ's global competitive strengths. In November 2025, a single week saw four ANZ startups raise over USD 52 million, including Ruminant Biotech (climate tech methane reduction) targeting AU/NZ launch in 2026. The ANZ startup corridor is increasingly active for both fundraising and cross-border commercialisation — creating a meaningful pathway for founders who can position for both markets simultaneously.

Vietnam's digital economy reached approximately USD 39 billion in 2025 — one of the fastest growth rates in Southeast Asia — with the government targeting 30% of GDP contribution by 2030. 81% of Vietnamese users proactively interact with AI every day (Google Vietnam MD Marc Woo), making it one of the most AI-engaged populations in the world. Digital payment transaction value reached USD 178 billion in 2025 (e-Conomy SEA), reflecting the rapid nationwide shift toward cashless payments. 200+ fintech startups are active in e-KYC, mobile-first banking and digital payments. The government's AI strategy is being updated with a dedicated AI law expected by end of 2025.

Vietnam's National Digital Transformation Programme is one of the most ambitious in Southeast Asia. The digital market is projected to reach USD 45 billion by 2025 and potentially USD 90–200 billion by 2030. Vietnam ranks 5th in ASEAN and 59th globally in AI readiness (Oxford Insights), with its AI market projected to reach USD 1.52 billion by 2030 at 15.8% CAGR. AI adoption could add USD 79.3 billion to Vietnam's GDP by 2030 — approximately 12% of current GDP. Priority transformation sectors include fintech, healthcare, e-commerce, logistics and public administration. Over 70% of citizens are connected via smartphones and high-speed internet.

Vietnam recorded 8% GDP growth in 2025 — the highest in Southeast Asia — and is targeting double-digit growth from 2026–2030 with a goal of upper-middle-income status by 2030 and high-income by 2045. Large-scale institutional reform consolidated government ministries in early 2025. Resolution 68 (May 2025) enhances the private sector's role in the economy — the most significant signal for foreign investors in years. Vietnam and New Zealand have declared strong trade expansion ambitions; bilateral trade is set to grow supported by favourable tariffs, regulatory reforms and enhanced business engagement. The year of the Horse — a symbol of strength and perseverance — is resonating with both governments' economic ambitions.

Two-way trade between Vietnam and Australia reached approximately AUD 23 billion in 2025, maintaining strong growth momentum (Australian Consul General Sarah Hooper at a joint investment forum in HCMC). An Austrade-facilitated event brought 28 leading Australian enterprises together with Vietnamese businesses to expand bilateral trade and investment. Agriculture and food remain standout sectors — Australia increasing meat, dairy and grain exports to Vietnam; Vietnam expanding seafood and processed food to Australia. Vietnam imports 70–80% of its animal feed annually — nearly 25 million tons worth over USD 8 billion — creating a specific gap Australian agribusinesses are well-positioned to address.

Vietnam's industrial real estate is the breakout investment segment for 2026. Northern industrial zones recorded 86% occupancy in 2025, southern zones 90% — with ready-built factory rents stable at USD 5.1/m²/month (north) and USD 4.4/m²/month (south). The market is driven by sustained FDI inflows as global manufacturers diversify supply chains away from China. USD 25.4 billion in implemented FDI reached Vietnam in 2024 — a 9.4% year-on-year increase. Property developers are setting aggressive 2026 revenue targets (Taseco Land targeting triple its 2025 revenue), while the government is actively unlocking 2,200 stalled projects covering USD 235 billion in investment value.

Vietnam's real estate market recorded over 580,400 successful transactions in 2025 — the highest in five years, confirming clear market recovery. Hanoi apartment prices rose 22.3% year-on-year in 2024 (JLL), with continued positive momentum in 2025. The 2024 Land Law, now fully in force, replaced the dual pricing system with Annual Land Price Tables reflecting real market values — a transparency reform that is restoring investor confidence and improving deal certainty. For overseas Vietnamese (Việt Kiều), near-equal rights to domestic citizens are now in effect — the most favourable conditions for diaspora property investment in history. Luxury and resort real estate are benefiting from both domestic wealth growth and returning diaspora interest.

A major milestone of 2025 was the establishment of Vietnam's National Venture Capital Fund — designed to co-invest alongside private capital with state funding acting as catalytic risk-sharer. The fund focuses on AI, core technologies and green tech, and is intended to de-risk early-stage investment and encourage private VCs to co-invest. Vietnam's Startup Festival 2025 also formally launched the National Startup Program 2026. IPOs from BeLive Technology and TCBS in 2025 signalled growing investor appetite for Vietnam's next wave of scale-ups. VinVentures, backed by Vietnam's richest person, launched a USD 150 million fund targeting AI, semiconductors and cloud computing — marking substantial domestic capital commitment to high-tech venture.

Vietnam's technology startup ecosystem has crossed a major milestone: over USD 3.2 billion in all-time funding, more than 5,500 startups (4,100+ active), and 6 unicorns. More than 60% of all startups were founded between 2015 and 2025, with USD 2.3 billion (74% of total) raised in the last five years alone. 2021 was the watershed year with USD 1.2 billion led by Tiki, VNLIFE and MoMo. Investment is expected to grow 83% between 2025 and 2030 (Bain & Company). Corporate venture capital is emerging as a significant force, with Vingroup's VinVentures and others joining Singapore-based funds Insignia and Genesia as active investors providing cross-border expertise and Southeast Asian market access.