Local firms eye South African market

Footwear exports to South Africa (Photo: VNA)

 South Africa has always prioritised trade, investment and cooperation with Vietnam, and this year, it will offer even more investment opportunities for businesses from Vietnam and Da Nang.

Charge D'Affaires of the South African Embassy in Hanoi Mat Matiwane made this announcement at a workshop on the Vietnam-South Africa Trade and Tourism Opportunities Promotion, held in Da Nang on July 29.

He said South Africa has been developing its infrastructure, and more partners from Vietnam will join ventures not only in South Africa but also in other countries in the southern part of the African continent.

He stressed that Vietnamese telecommunications company Viettel Group had begun operations in South Africa.

The workshop, which was organised by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with South Africa's embassy in Vietnam, aims to offer investment opportunities for businesses in central Vietnam.

South Africa has invested 100 billion USD in developing its infrastructure over the past five years, and an estimated 400 billion USD will be poured into infrastructure projects over the next 15 years.

According to VCCI's Da Nang office, only 20 enterprises from Thua Thien-Hue, Quang Nam and Da Nang export crafts, fine arts, leather and garments, as well as bamboo and rattan products and stone sculptures valued at hundreds of thousands of dollars.

Workshops have been organised by the VCCI and the Embassy in the central provinces since 2013, but it is rare for investment projects to be started by businesses from the region and South Africa.

According to VCCI, bilateral trade reached a value of 962 million USD last year, a year-on-year increase of 5 percent, with Vietnam's exports accounting for 815 million USD.-VNA