Man arrested after fatal suspected stabbing in regional Victoria

One man is dead and another has been arrested after a suspected stabbing in regional Victoria.

Police called to a car park on Wodonga Place, South Albury, on the NSW border, about 6.15pm today found a man with a stab wound to his chest.

He was believed to be in his 30s but yet to be formally identified.

Paramedics treated him at the scene but he died in Albury Base Hospital.

Police arrested a 27-year-old man, who was helping with their inquiries.

A report will be prepared for the coroner.