Vietnam, Tanzania look to step up bilateral investment cooperation

Vietnam is willing to share its socio-economic development experience and lessons with Tanzania, especially in attracting foreign investment and developing garment, footwear, and seafood sectors, Vietnam Ambassador to Tanzania Nguyen Nam Tien has said.
Vietnam, Tanzania look to step up bilateral investment cooperation ảnh 1Vietnamese Ambassador to Tanzania Nguyen Nam Tien (second from right) with Tanzanian Minister of Investment, Geoffrey Mwambe (2nd from left in the first row) and Tanzanian leaders. (Photo: VNA)
Hanoi (VNA) - Vietnam is willing to share its socio-economic development experience and lessons with Tanzania, especially in attracting foreign investment and developing garment, footwear, and seafood sectors, Vietnam Ambassador to Tanzania Nguyen Nam Tien has said.

During a meeting with Tanzanian Minister of Investment Geoffrey Mwambe on August 10, the Vietnamese diplomat suggested the two sides complete legal frameworks for bilateral investment activities, and proposed specific cooperation orientations and plans between the two nations in the fields of agriculture, education and infrastructure development.

Amid complicated developments of the COVID-19 pandemic, partners of the two sides should enhance online meetings to maintain information exchange and strengthen connectivity, Tien said.

Taking a typical example of Vietnam's investment in Tanzania, the ambassador emphasised the role of Viettel Tanzania Company (Halotel) in creating jobs, raising incomes and improving the lives of Tanzanians. He expressed his hope that the Tanzanian government would continue to create favourable conditions for Halotel to operate effectively in the African country.

The ambassador also expressed his delight at the development of friendly and cooperative relations between the two States, ruling parties and people of Vietnam and Tanzania.

He affirmed that Vietnam and Tanzania have always been brothers and partners which have often supported and helped each other in the past struggles for national independence as well as in the cause of national construction at present.

For his part, Mwambe agreed that the two sides will continue to coordinate together to improve the legal framework for investment. He also welcomed and supported cooperation proposals of Vietnam.

Halotel is a strategic investment project of Vietnam in Tanzania, he said, adding that he highly valued Halotel’s telecommunications services to help socio-economic development in remote areas of Tanzania.

Tanzania wants to learn from Vietnam's experience in developing garment, footwear, rice cultivation, fishing, aquaculture and seafood processing industries, he said.

Tanzania is a large consumption market which is benefiting trade and investment incentives with the US, the European Union and the UK, Mwambe said, affirming that his country can serve as a gateway to help Vietnamese businesses access to markets in the East African Community (EAC) and the Southern African Development Community (SADC), and member markets of the African Continental Free Trade Area (AfCFTA)./.
VNA

See more

HCM City is now a regional specialised financial centre (Photo: VNA)

Vietnam should be flexible in selecting financial centre models: expert

Tuan also highlighted the importance of human capital, one of the five important factors to successfully build a financial centre, citing the Global Financial Centres Index, which ranks business environment, human capital, infrastructure, market development, and reputation as the key drivers of success.

Minister of Industry and Trade Nguyen Hong Dien (L) and US Secretary of Energy Chris Wright in Washington D.C. on March 13. (Photo: VOV)

Vietnam, US look to strengthen comprehensive energy cooperation

Vietnam’s consistent policy is to foster a balanced, sustainable, stable, and win-win economic relationship with the US, the minister stated. Vietnam does not intend to create any barriers that could negatively impact the US’s workers or its economic and national security, Minister of Industry and Trade Nguyen Hong Dien said.

Deputy Prime Minister Nguyen Chi Dung speaks at the first meeting of the steering committee for the building of a project on the private economic sector's development in Hanoi on March 15. (Photo: VNA)

Private sector's development key to Vietnam’s economic growth

Currently, the private economic sector comprises over 6.1 million business establishments, including approximately 940,000 registered enterprises and over 5.2 million household businesses. The sector contributes around 50% of the country’s GDP, accounts for over 56% of total social investment, employs approximately 82% of the workforce, and generates around 30% of state budget revenue and more than 30% of total import-export turnover.

Prime Minister Pham Minh Chinh receives Wouter Van Wersch, Executive Vice President of Airbus International. (Photo: VNA)

PM suggests Airbus help Vietnam in developing aviation ecosystem

During a meeting on March 14 with Wouter Van Wersch, Executive Vice President International of Airbus, Prime Minister Pham Minh Chinh praised the aerospace giant’s cooperation with Vietnamese partners, emphasising its role in boosting domestic and international connectivity and driving Vietnam’s socio-economic growth.

The Vietnam Consumer Rights Day 2025 is under the theme "Transparent Information – Responsible Consumption". (Photo: VNA)

Hanoi launches campaign for Consumer Rights Day

The event, organised by the city's Department of Industry and Trade, aimed to promote consumer protection as a long-term, essential task for all levels of government, businesses and society.