Vietnam has set a target of earning 100 million USD from exports to Mozambique this year.

Nguyen The Hung, Deputy Director of the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City (VCCI-HCMC), revealed this goal in HCM City on June 14 at the Vietnam-Mozambique Trade Forum, which aims to promote investment and trade ties between the two countries.

The forum, jointly organised by VCCI-HCMC and the Investment Promotion Centre under the Ministry of Planning and Investment, also provided Vietnamese and Mozambican enterprises with a venue to share experience and seek new trade partners.

With a population of 24 million people, the Southeast African country is considered a potential market for Vietnam ’s export products. It is also a gateway for Vietnam to penetrate markets in South Africa.

Two-way trade between the two nations has seen rapid growth in recent years. Vietnam raked in 85.6 million USD exporting goods to Mozambique in 2012, up 20 percent over 2011’s figure.

At the forum, participants introduced the two countries’ business and investment policies in agriculture, food processing, fisheries, aquatic product processing and tourism to the two sides’ business communities.

Mozambican Ambassador to Vietnam Gamilied Munguambe said his country attaches importance to strengthening economic ties with Vietnam.

He added that the country will realise its commitment to organising investment and trade promotion programmes and enhancing visit exchanges in order to introduce investment potential, business environment and investment incentives of both nations.

Mozambique is now an attractive destination for foreign investors in the areas of coal, gas, energy, transport, telecommunications, banking and finance thanks to its abundant natural resources, tax incentives and simple customs procedures.-VNA