For decades, investment migration has largely been tied to financial capital, with investors seeking overseas residency typically expected to commit substantial funds to real estate, businesses, or government-approved vehicles.

Australia is now taking a different approach. Following the termination of its Business Innovation and Investment Programme in 2024, the government has introduced the National Innovation Visa (NIV) to attract entrepreneurs, founders, investors, researchers, and individuals with notable international achievements.

With the introduction of the NIV programme, the country is signalling a broader shift in immigration policy – from attracting capital to attracting capability. The programme places greater emphasis on an individual’s ability to generate innovation, commercialise ideas and contribute to Australia’s long-term economic growth than on the size of their investment portfolio. Rather than replacing one investment visa with another, Australia has redefined what it considers to be a valuable economic contribution.

Human capital takes centre stage

The decision reflects a broader transformation in Australia’s economic priorities.

As industries such as AI, advanced manufacturing, clean energy, biotechnology and digital technologies reshape the global economy, governments are increasingly competing for highly skilled entrepreneurs, researchers, and innovators instead of simply competing for investment dollars.

Under this strategy, individuals with internationally recognised achievements, commercial innovation, research excellence or leadership in priority industries are viewed as long-term economic assets capable of creating businesses, developing new technologies, generating employment and strengthening national competitiveness.

In this context, human capital has become as strategic asset alongside financial capital.

A global race for talented entrepreneurs

Australia is not alone.

Across developed economies, immigration policy is increasingly being used as an economic development tool. Rather than measuring applicants solely by their net worth, governments are placing greater value on intellectual property, entrepreneurial achievements, research output, industry recognition and the potential to contribute to future-focused sectors.

The National Innovation Visa reflects this direction by targeting individuals whose expertise aligns with Australia’s strategic priorities, including AI, cybersecurity, advanced manufacturing, health and medical technologies, clean energy, fintech, agri-tech and other innovation-driven industries.

The objective extends beyond attracting successful individuals. It is about strengthening Australia’s capacity to innovate, improve productivity and remain globally competitive over the coming decades.

Over the past decade, Vietnam has emerged as one of Southeast Asia’s fastest-growing innovation ecosystems. A new generation of entrepreneurs has built technology companies, expanded into international markets, secured overseas investment, registered intellectual property and collaborated with multinational corporations, research institutions and global universities.

Achievements that were once viewed primarily as professional milestones are increasingly becoming valuable credentials within Australia’s talent-focused immigration framework.

For founders, technology executives, researchers and specialists, the strength of a professional profile may now carry greater weight than the size of an investment.

A great opportunity for Vietnamese entrepreneurs

The changing landscape also creates new opportunities for Vietnamese professionals and business leaders.

Rather than asking how much capital an applicant can invest, the conversation is increasingly centred on what value that individual can create for the economy over the long term.

Professional achievements, innovation capability, commercial impact, industry leadership and international recognition are becoming important indicators of an applicant’s potential contribution.

For many globally minded entrepreneurs, investing in personal capability, through innovation, expertise and a proven track record, has become an investment in itself.

As governments compete more aggressively for world-class talented professionals, investment migration is evolving beyond financial resources. It demands a carefully structured strategy that presents an applicant’s achievements, experience and long-term contribution in a way that aligns with national priorities.

With more than three decades of experience in immigration law across multiple jurisdictions, Harvey Law Group advises entrepreneurs, business leaders and highly skilled professionals on developing competitive profiles and identifying immigration pathways aligned with their long-term global ambitions. For more information about the National Innovation Visa, please contact Harvey Law Group at +84 91 444 1016.

Australia provides $1.3 million to support joint research projects with Vietnam On June 16, a new partnership to fund collaborative research projects between Australia and Vietnam is open.

Powering Vietnam’s climate transition The Australian government on May 26 announced a commitment of up to $10 million for venture capital firm Do Ventures Fund II, providing capital for climate-focused Vietnamese businesses and strengthening Vietnam’s climate investment market to attract greater private finance.

Vietnam and Queensland deepen education ties to power innovation On April 15, the National Innovation Centre (NIC) under the Ministry of Finance, in collaboration with Trade and Investment Queensland (TIQ), hosted the Education for Innovation Showcase in Hanoi, bringing together around 80 representatives from government agencies, universities, research institutes and businesses across Vietnam and Australia.

Supply chain transparency has become a top priority for fashion brands and the textiles industry. What are the key factors driving this shift?

Lynch: Adoption is largely being driven by tightening global regulation, shifting trade dynamics, and increasing demand for evidence-backed origin claims from regulators, brands and consumers.

Oritain chief customer officer Gemma Lynch

Despite widespread investment in traceability, supply chain risk continues to persist, as our 2026 Supply Chain Intelligence Report found that 90 per cent of brands analysed in our 2025 Market Insights Programme had at least one result consistent with prohibited cotton, highlighting the limitations of documentation-based approaches and accelerating demand for independent verification.

The market is evolving towards continuous, programmatic verification models, where origin verification becomes embedded into ongoing supply chain and sourcing strategies rather than treated as a one-off compliance exercise.

What are the biggest challenges brands and textiles supply chains face today in proving the authenticity and origin of their raw materials?

Lynch: Regulatory scrutiny is heightening across multiple markets, from the US with the evolving tariff landscape, recent Section 301 investigations, and an uptick in enforcement due to the Executive Order “Strengthening Customs Enforcement,” to the EU Forced Labour Regulation and impending EU Deforestation Regulation. This environment highlights that documentation alone is no longer sufficient in complex, multi-tier supply chains, particularly where raw material origin is under regulatory scrutiny.

A verification-first approach enables companies to take a proactive approach, and identifying and addressing inconsistencies early, providing stronger, evidence-based support for compliance and reducing the risk of disruption.

More broadly, it reinforces the need for resilient supply chains built on independent verification of the physical product, ensuring companies can maintain market access and confidence in a rapidly evolving regulatory landscape.

Kyungbang has become the first spinning mill to join Oritain’s membership programme. What motivated this decision, and how important is it to Kyungbang and the Vietnamese textiles industry?

Kyungbang chairman Joon Kim

Kim: Kyungbang believes that a trusted supply chain will be one of the most important competitive advantages for the textiles industry in the years ahead.

Joining Oritain’s membership programme reflects our long-term commitment to transparency, traceability, and responsible sourcing.

As the first spinning mill to join the programme, our goal is not simply to meet customer expectations, but to help strengthen supply chain credibility and contribute to setting a higher standard for the industry.

Kyungbang’s membership spans its operations in South Korea and two spinning mills in Vietnam. As a global yarn supplier operating at the earliest stage of the textiles supply chain, Kyungbang’s commitment to ongoing, programmatic origin verification sets a new standard for the spinning sector, and gives its customers worldwide access to independently verified origin claims backed by forensic science.

Through Oritain’s membership programme, Kyungbang will supply customers worldwide with products verified through independent forensic authentication. We expect this to receive strong support from market participants, and we are committed to ensuring we consistently deliver integrity and responsible trust to our customers

For Vietnam, as the country moves towards mandatory digital traceability for textiles products, Kyungbang’s participation in Oritain’s global membership programme positions its Vietnam operations at the forefront of the industry’s transition from documentation-based traceability to independent, science-backed origin verification, helping strengthen trust, support compliance, and enhance the competitiveness of Vietnam’s textiles sector in global markets.

We also hope this initiative will support the global competitiveness of Vietnam’s textiles industry and further strengthen its reputation as a trusted sourcing destination.

How does joining Oritain’s membership programme align with Kyungbang’s long-term vision for sustainability, innovation, and customer trust?

Kim: At Kyungbang, sustainability extends beyond environmental responsibility to include supply chain transparency and customer trust.

Our partnership with Oritain provides a meaningful foundation for demonstrating these values through independent scientific verification.

We have continuously strengthened not only our product quality and manufacturing excellence, but also our commitment to traceability and responsible business practices.

Going forward, we will continue creating sustainable value by being a trusted partner for our customers and stakeholders.

What innovations is Oritain developing to make provenance testing even more scalable and accessible for the industry?

Lynch: Oritain verifies the product itself using forensic science, rather than relying on documents, certifications or digital systems that depend on supplier-reported data.

Our methodology analyses the intrinsic characteristics of a material to determine whether it is consistent with its claimed origin, providing a tamper-resistant and independent source of truth.

Oritain continues to invest heavily in scientific research and development, extending its forensic origin verification capabilities beyond cotton into additional materials including leather, another of the world’s most highly scrutinised materials due to deforestation concerns. This broadens access to provenance testing across more product categories and enables brands to apply the same rigorous verification standards throughout their supply chains.

Through our membership model, Oritain is creating a global network of origin-verified buyers and suppliers that share a common, science-based source of truth. This approach moves the industry from one-off testing towards programmatic verification at scale, helping suppliers demonstrate credibility to multiple buyers while giving brands greater visibility, confidence and transparency across their sourcing ecosystems. This innovation ensures greater accessibility to the most robust forensic verification programmes and ensures a continuously scalable model across global supply chains.

This delivers greater value by enabling brands to substantiate claims with evidence and giving consumers increased confidence that product origin aligns with what is being communicated.

What additional investments is Kyungbang making to strengthen responsible sourcing, sustainability, and supply chain resilience?

Kim: Kyungbang will continue investing in greater supply chain transparency, operational resilience, and sustainable manufacturing across our global operations.

Our priorities include expanding digital traceability systems, strengthening partnerships with suppliers, improving manufacturing efficiency, and investing in environmentally responsible production technologies.

We will also continue enhancing our responsible sourcing practices in line with internationally recognised sustainability standards to meet the evolving expectations of global customers.

Vietnam is a key manufacturing base for Kyungbang. We will continue investing in technology, people, and production capabilities to support sustainable growth and strengthen our global competitiveness.

About Oritain Oritain is a global leader in forensic origin verification. Using cutting-edge science, advanced technology, and specialised services, the group independently verifies where products and raw materials come from – protecting brand integrity, supporting compliance, and strengthening supply chain trust and transparency. Its method is resistant to tampering, court-admissible, and trusted by suppliers and manufacturers, brands and retailers, consumers, and regulators. Purpose driven, it is committed to advancing the scientific techniques and systems needed to identify the origin of the world’s most critical commodities – enabling more ethical, resilient, and accountable supply chains.