Vietnamese businesses seeking to further penetrate South Africa

The Ministry of Industry and Trade (MoIT) recently sent a delegation of 20 Vietnamese businesses to South Africa to scope out the market.
Vietnamese businesses seeking to further penetrate South Africa ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The Ministry of Industryand Trade (MoIT) recently sent a delegation of 20 Vietnamese businesses toSouth Africa to scope out the market.

The country is now Vietnam’s biggest trade partner inAfrica with annual two-way trade exceeding 1.2 billion USD between 2019 and2021, according to Pham Thanh Hai, First Secretary at the Vietnam Trade Officein South Africa.

It mainly imports aquatic products fromVietnam, and the demand is expected to grow in the time ahead, the officialsaid, noting that supermarkets there serve not only local residents but alsothose from neighbouring countries of South Africa.

However, due to the long geographical distance, manyVietnamese enterprises have yet to pay attention to the market. Besides, they havealso faced limited access to market information.

Given this, the Vietnam Trade Promotion Agency(VIETRADE) has organised many consulting sessions on the Middle East andAfrica, providing information about the market, import-export rules and otherissues for domestic firms.

At a recent Vietnam-Durban Business Forum 2022, VietnameseAmbassador to South Africa Hoang Van Loi said Vietnamese businesses areincreasingly interested in the market and want to explore investmentopportunities to utilise free trade agreements between South Africa and majormarkets.

Bilateral trade turnover between Vietnam and SouthAfrica topped 1 billion USD in the first nine months and is expected to reach1.3 billion USD this year./.
VNA

See more

An overview of the meeting (Photo: VNA)

Binh Duong works to remove obstacles facing major FDI firms

Authorities of the southern industrial hub of Binh Duong held a meeting with two major foreign direct investment (FDI) enterprises operating in the province to address challenges facing the firms in production and business operations while encouraging their further expansion.

Real estate investors eye industrial zones with strong transport infrastructure. (Illustrative photo: VNA)

Real estate rises with infrastructure boom

According to Savills Vietnam, a more favourable real estate investment environment is expected in 2025 as cyclical challenges subside and the market continues its recovery.

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.