Investment
Enhancing investment ties between Vietnam and South Africa
A workshop was held in Johannesburg city on October 12 to promote investment ties between Vietnam and South Africa.
Vietnamese Ambassador to South Africa Vu Van Dung said South Africa is one of the biggest economies in Africa while Vietnam is a dynamic economy with a lot of potential. Therefore, it is necessary to step up the bilateral cooperation in economics, trade, and investment as well as increase information exchanges and connectivity among businesses, he said. The diplomat called on enterprises from South Africa and Johannesburg city in particular to boost investment in Vietnam, including the northern province of Vinh Phuc. He cited the fact that two-way trade is estimated at over 1.2 billion USD at present.
Chairman of the Vinh Phuc People’s Committee Nguyen Van Tri highlighted the local advantages in geography, natural conditions and transport system along with potential to develop industry, services, construction and infrastructure, simple administrative investment procedures and abundant labour resources.
As of September 2017, the province received more than 253 foreign direct investment (FDI) projects from 16 countries and territories with total registered capital of over 3.8 billion USD, he noted. He welcomed investors from South Africa and Johannesburg city to invest in the local strong manufacturing fields and pledged to create the best conditions for businesses to expand investment.
President of the Johannesburg Chamber of Commerce and Industry Herman Breedt hailed the cooperation potential between South African and Vietnamese enterprises, including those from Johannesburg city and Vinh Phuc province.
He added that the workshop creates an opportunity for Johannesburg firms to understand better the economy and trade situation in Vietnam and Vinh Phuc province, through which seeking to boost cooperation in the areas of their strength.
