Asian-African Chamber of Commerce & Industry’s Post

Egyptian business delegation to visit Morocco to strengthen investment, trade ties The Egyptian Moroccan Joint Business Council, led by Nezar Abou-Ismail, convened its inaugural meeting to discuss strategies for enhancing communication and collaboration between the two countries, with a focus on boosting investments and trade. Abou-Ismail highlighted the council’s discussions on overcoming challenges faced by investors in both nations through direct engagement with officials. The meeting also explored opportunities to deepen economic integration and expand mutual investments in sectors such as renewable energy, agriculture, infrastructure, construction, tourism, pharmaceuticals, automotive, clothing, food industries, and electrical appliances. #egypt #morocco #cooperation #investment Read more: https://lnkd.in/dNftzGiD

Vietnam PM Targets $20 Billion In Bilateral Trade With India Both the countries should expand cooperation into new areas such as digital economy, transportation and renewable energy. In his recent visit to India, Vietnamese Prime Minister, Pham Minh Chinh said Indian businessmen have expressed interest in understanding and exploring investment opportunities in Vietnam. Both the countries should expand cooperation into new areas such as digital economy, transportation and renewable energy. He added, economic and trade cooperation can take bilateral trade to $20 billion. He proposed for a stronger OEA cooperation focusing on strategic infrastructure, including transportation, energy, digital, and climate infrastructure. Vietnam is the 23rd largest global trade partner of India and the fifth largest among ASEAN countries, with bilateral trade of $14.70 billion during 2022-23. Vietnam accounts for 11.2% of India’s total trade with ASEAN. Vietnam is an important destination for India’s iron and steel and agricultural and animal products, mainly meat products, animal fodder, cereals, and marine products, as per the Ministry of Commerce and Industry.

Africa is emerging as a global hub for manufacturing, with the continent’s industrial corridors providing great opportunities for investors. As governments prioritise industrialisation and the creation of sustainable supply chains, Africa’s manufacturing sector is poised to become a driving force in the continent’s economic transformation. Africa’s industrialisation efforts are fuelled by a combination of strategic investments, favourable government policies, and the expansion of the African Continental Free Trade Area (AfCFTA). Ethiopia, South Africa, Morocco, and Nigeria are leading the charge, developing industrial parks, special economic zones (SEZs), and export processing zones (EPZs) to attract foreign direct investment (FDI) and foster local entrepreneurship. Africa’s industrial corridors are supported by significant investments in transportation, logistics, and energy infrastructure. Major projects like the LAPSSET Corridor (Linking Kenya, Ethiopia, and South Sudan), the North-South Corridor (spanning South Africa, Botswana, Zimbabwe, Zambia, and the DRC), and the West African Growth Corridor are critical to connecting manufacturing hubs with regional and global markets. In addition, investments in energy are crucial for supporting the continent’s manufacturing ambitions. Reliable power is key to ensuring that industries can operate efficiently and competitively. Countries like South Africa and Kenya are making strides in renewable energy, reducing energy costs for industries and boosting their global competitiveness. The African Continental Free Trade Area (AfCFTA), the world’s largest free trade area by number of countries, is expected to be a game-changer for Africa’s manufacturing sector. By creating a single market for over 1.3 billion people across 55 countries, the AfCFTA will facilitate intra-African trade, reduce tariffs, and promote regional supply chains. This will allow African manufacturers to scale up production, access new markets, and compete more effectively on the global stage. For investors, this represents an unparalleled opportunity to participate in the continent’s industrial transformation, tapping into its vast markets and resources. The upcoming Manufacturing Indaba will bring together industry leaders, policymakers, and investors to discuss Africa's manufacturing potential. This important event takes place from the 22 – 23 October 2024 in Johannesburg, South Africa. To read the full article click on the link below or visit the WhyAfrica website, your one-stop-shop for on-the-ground information and business intelligence about Africa.   Image: Shout out to Rob Lambert from Unsplash   #whyafrica #whyafricaroadtrips #africa #manufacturing WhyAfrica African Continental Free Trade Area (AfCFTA) Secretariat   https://lnkd.in/dEPh9Bgg

💌 Invite to invest 🎯🇻🇳 🇳🇿 Prime Minister Pham Minh Chinh urged New Zealand companies to enhance their investment in Vietnam, focusing on innovation, education, and energy sectors. ❓ During a seminar in Wellington with New Zealand businesses on Monday, Chinh highlighted Vietnam's commitment to attracting foreign investments that prioritize quality, efficiency, and sustainability, emphasizing environmentally friendly practices and the application of science and technology. ⏩ He encouraged New Zealand companies to deepen their investment relationships with Vietnam by engaging in sectors such as the green and digital economies, circular and knowledge-based economies, science and technology, innovation, electronics, electric vehicles, semiconductors, new energy, essential minerals, green finance, biotechnology, healthcare, high-tech agriculture, and the development of high-quality human resources. 💡 There are about 15,000 Vietnamese people in New Zealand, and many work on trade and investment. Given this, the PM suggested the New Zealand side continue supporting and facilitating Vietnamese companies to operate fruitfully in the country so that they can further engage in global supply and production chains. 🙏🏼 He expressed his hope that economic, investment, and trade cooperation will remain an important pillar of bilateral relations and an impulse for the two countries to surmount difficulties and challenges to develop further. 📌 In the spirit of "interests harmonized, risks shared", Vietnam always protects the rights and legitimate interests of businesses, PM Chinh stated, pledging support and the best possible conditions for foreign firms, including those from New Zealand, to invest and do business effectively and sustainably in the Southeast Asian nation. 🗝️ Local businesses expressed their interest in Vietnam’s investment attraction policy, particularly in infrastructure development. 🚜 They also presented their cooperation demand and capacity in the fields of education - training, science - technology, food import, training and supply of nurses caring for the elderly, climate change fight, green transportation, carbon emission reduction, energy transition, and sustainable agriculture. https://lnkd.in/g86x7qWX

President of the Republic of Indonesia, Prabowo Subianto, attended the Indonesia-Brazil Business Forum, held at Copacabana Palace, Rio de Janeiro, Brazil, on Sunday, November 17, 2024. The forum brought together business players from Indonesia and Brazil to discuss opportunities for strategic economic cooperation, including in the energy, industrial and maritime sectors. President Prabowo highlighted the many similarities between Indonesia and Brazil, ranging from natural resources to strategic vision for the future. "Indonesia and Brazil are big countries with big populations. We have abundant resources. Brazil is advanced in its industry, while Indonesia is trying to catch up through industrialization. I believe we can create good synergies and mutually beneficial relationships." President Prabowo also expressed his support for Brazil's role as one of the key members of BRICS, an increasingly influential economic organization in the global arena. The Head of State expressed Indonesia's commitment to become a member of BRICS as part of a strategy to strengthen the national economy. "I have sent the Minister of Foreign Affairs to attend the BRICS Summit in Kazan, just a day after my cabinet was sworn in. Indonesia wants to join Brazil and other BRICS member countries," the President said. In addition, President Prabowo emphasized the importance of food security as the main foundation of a country's development. He underlined the free food program for Indonesian children as a priority of his administration, while learning from Brazil's success in a similar program. "I also want to learn from Brazil's successful program, and I have asked my team to arrange further cooperation with the Brazilian Ambassador in Indonesia," President Prabowo said. On energy, President Prabowo highlighted great opportunities for cooperation, particularly in the development of biofuels and renewable energy. Indonesia has an ambition to increase the use of biodiesel to 50 percent by 2025, utilizing palm oil as the main raw material. Meanwhile, in the maritime sector, President Prabowo stated that Indonesia has the second or third largest fishery reserves in the world, but lacks 40,000 fishing vessels with a capacity of 150-300 GT. President Prabowo also invited Brazilian businesses to invest in this sector, while supporting Indonesia's natural resources downstream program. President Prabowo concluded his remarks by underlining Indonesia's commitment to creating a positive business climate that is open to foreign investment. "We are determined to create a positive business environment," the President said. Also accompanying President Prabowo at the event were Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of Foreign Affairs Sugiono, Cabinet Secretary Teddy Indra Wijaya, Deputy Minister of Finance Thomas Djiwandono, and Indonesian Ambassador to Brazil Edi Yusup. (BPMI Setpres)

President of the Republic of Indonesia, Prabowo Subianto, attended the Indonesia-Brazil Business Forum, held at Copacabana Palace, Rio de Janeiro, Brazil, on Sunday, November 17, 2024. The forum brought together business players from Indonesia and Brazil to discuss opportunities for strategic economic cooperation, including in the energy, industrial and maritime sectors. President Prabowo highlighted the many similarities between Indonesia and Brazil, ranging from natural resources to strategic vision for the future. "Indonesia and Brazil are big countries with big populations. We have abundant resources. Brazil is advanced in its industry, while Indonesia is trying to catch up through industrialization. I believe we can create good synergies and mutually beneficial relationships." said Prabowo Subianto President Republic Indonesia Prabowo also expressed his support for Brazil's role as one of the key members of BRICS, an increasingly influential economic organization in the global arena. The Head of State expressed Indonesia's commitment to become a member of BRICS as part of a strategy to strengthen the national economy. "I have sent the Minister of Foreign Affairs to attend the BRICS Summit in Kazan, just a day after my cabinet was sworn in. Indonesia wants to join Brazil and other BRICS member countries," the President said. In addition, President Prabowo emphasized the importance of food security as the main foundation of a country's development. He underlined the free food program for Indonesian children as a priority of his administration, while learning from Brazil's success in a similar program. "I also want to learn from Brazil's successful program, and I have asked my team to arrange further cooperation with the Brazilian Ambassador in Indonesia," President Prabowo said. On energy, President Prabowo highlighted great opportunities for cooperation, particularly in the development of biofuels and renewable energy. Indonesia has an ambition to increase the use of biodiesel to 50 percent by 2025, utilizing palm oil as the main raw material. Meanwhile, in the maritime sector, President Prabowo stated that Indonesia has the second or third largest fishery reserves in the world, but lacks 40,000 fishing vessels with a capacity of 150-300 GT. President Prabowo also invited Brazilian businesses to invest in this sector, while supporting Indonesia's natural resources downstream program. President Prabowo concluded his remarks by underlining Indonesia's commitment to creating a positive business climate that is open to foreign investment. "We are determined to create a positive business environment," the President said. Also accompanying President Prabowo at the event were Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of Foreign Affairs Sugiono, Cabinet Secretary Teddy Indra Wijaya, Deputy Minister of Finance Thomas Djiwandono, and Republic of Indonesian Ambassador to Brazil Edi Yusup. (BPMI Setpres)

Africa is emerging as a global hub for manufacturing, with the continent’s industrial corridors providing great opportunities for investors. As governments prioritise industrialisation and the creation of sustainable supply chains, Africa’s manufacturing sector is poised to become a driving force in the continent’s economic transformation. Africa’s industrialisation efforts are fuelled by a combination of strategic investments, favourable government policies, and the expansion of the African Continental Free Trade Area (AfCFTA). Ethiopia, South Africa, Morocco, and Nigeria are leading the charge, developing industrial parks, special economic zones (SEZs), and export processing zones (EPZs) to attract foreign direct investment (FDI) and foster local entrepreneurship. Africa’s industrial corridors are supported by significant investments in transportation, logistics, and energy infrastructure. Major projects like the LAPSSET Corridor (Linking Kenya, Ethiopia, and South Sudan), the North-South Corridor (spanning South Africa, Botswana, Zimbabwe, Zambia, and the DRC), and the West African Growth Corridor are critical to connecting manufacturing hubs with regional and global markets. In addition, investments in energy are crucial for supporting the continent’s manufacturing ambitions. Reliable power is key to ensuring that industries can operate efficiently and competitively. Countries like South Africa and Kenya are making strides in renewable energy, reducing energy costs for industries and boosting their global competitiveness. The African Continental Free Trade Area (AfCFTA), the world’s largest free trade area by number of countries, is expected to be a game-changer for Africa’s manufacturing sector. By creating a single market for over 1.3 billion people across 55 countries, the AfCFTA will facilitate intra-African trade, reduce tariffs, and promote regional supply chains. This will allow African manufacturers to scale up production, access new markets, and compete more effectively on the global stage. For investors, this represents an unparalleled opportunity to participate in the continent’s industrial transformation, tapping into its vast markets and resources. The upcoming Manufacturing Indaba will bring together industry leaders, policymakers, and investors to discuss Africa's manufacturing potential. This important event takes place from the 22 – 23 October 2024 in Johannesburg, South Africa. To read the full article click on the link below or visit the WhyAfrica website, your one-stop-shop for on-the-ground information and business intelligence about Africa.   Image: Shout out to Rob Lambert from Unsplash   #whyafrica #whyafricaroadtrips #africa #manufacturing Leon Louw African Continental Free Trade Area (AfCFTA) Secretariat   https://lnkd.in/dj9rHpPg

Ample room remains for Vietnam-India cooperation, particularly in trade, investment, tourism and renewable energy, Le Quang Bien, Consul General of Vietnam in Mumbai, has said. According to the diplomat, the comprehensive strategic partnership has made important progress in many fields, including economy and trade, and the two countries are striving to bring bilateral trade turnover to 20 billion USD. Both Vietnam and India are rapidly growing economies with diverse strengths, so they have great potential for enhanced trade and investment. India considers Vietnam a key pillar in its Act East policy and an important partner in its Indo-Pacific vision. Meanwhile, Vietnam always attaches its high priority to promoting comprehensive cooperation with India, especially in the areas of economy, trade and investment in an increasingly substantive and effective manner. Read more at https://lnkd.in/gmQNaVc4 #asiagreen #vietnamplus #vietnam #renewableenergy #environment #mumbai

President of the Republic of Indonesia, Prabowo Subianto, attended the Indonesia-Brazil Business Forum, held at Copacabana Palace, Rio de Janeiro, Brazil, on Sunday, November 17, 2024. The forum brought together business players from Indonesia and Brazil to discuss opportunities for strategic economic cooperation, including in the energy, industrial and maritime sectors. President Prabowo highlighted the many similarities between Indonesia and Brazil, ranging from natural resources to strategic vision for the future. "Indonesia and Brazil are big countries with big populations. We have abundant resources. Brazil is advanced in its industry, while Indonesia is trying to catch up through industrialization. I believe we can create good synergies and mutually beneficial relationships." President Prabowo also expressed his support for Brazil's role as one of the key members of BRICS, an increasingly influential economic organization in the global arena. The Head of State expressed Indonesia's commitment to become a member of BRICS as part of a strategy to strengthen the national economy. "I have sent the Minister of Foreign Affairs to attend the BRICS Summit in Kazan, just a day after my cabinet was sworn in. Indonesia wants to join Brazil and other BRICS member countries," the President said. In addition, President Prabowo emphasized the importance of food security as the main foundation of a country's development. He underlined the free food program for Indonesian children as a priority of his administration, while learning from Brazil's success in a similar program. "I also want to learn from Brazil's successful program, and I have asked my team to arrange further cooperation with the Brazilian Ambassador in Indonesia," President Prabowo said. On energy, President Prabowo highlighted great opportunities for cooperation, particularly in the development of biofuels and renewable energy. Indonesia has an ambition to increase the use of biodiesel to 50 percent by 2025, utilizing palm oil as the main raw material. Meanwhile, in the maritime sector, President Prabowo stated that Indonesia has the second or third largest fishery reserves in the world, but lacks 40,000 fishing vessels with a capacity of 150-300 GT. President Prabowo also invited Brazilian businesses to invest in this sector, while supporting Indonesia's natural resources downstream program. President Prabowo concluded his remarks by underlining Indonesia's commitment to creating a positive business climate that is open to foreign investment. "We are determined to create a positive business environment," the President said. Also accompanying President Prabowo at the event were Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of Foreign Affairs Sugiono, Cabinet Secretary Teddy Indra Wijaya, Deputy Minister of Finance Thomas Djiwandono, and Indonesian Ambassador to Brazil Edi Yusup. (BPMI Setpres)

President of the Republic of Indonesia, Prabowo Subianto, attended the Indonesia-Brazil Business Forum, held at Copacabana Palace, Rio de Janeiro, Brazil, on Sunday, November 17, 2024. The forum brought together business players from Indonesia and Brazil to discuss opportunities for strategic economic cooperation, including in the energy, industrial and maritime sectors. President Prabowo highlighted the many similarities between Indonesia and Brazil, ranging from natural resources to strategic vision for the future. "Indonesia and Brazil are big countries with big populations. We have abundant resources. Brazil is advanced in its industry, while Indonesia is trying to catch up through industrialization. I believe we can create good synergies and mutually beneficial relationships." President Prabowo also expressed his support for Brazil's role as one of the key members of BRICS, an increasingly influential economic organization in the global arena. The Head of State expressed Indonesia's commitment to become a member of BRICS as part of a strategy to strengthen the national economy. "I have sent the Minister of Foreign Affairs to attend the BRICS Summit in Kazan, just a day after my cabinet was sworn in. Indonesia wants to join Brazil and other BRICS member countries," the President said. In addition, President Prabowo emphasized the importance of food security as the main foundation of a country's development. He underlined the free food program for Indonesian children as a priority of his administration, while learning from Brazil's success in a similar program. "I also want to learn from Brazil's successful program, and I have asked my team to arrange further cooperation with the Brazilian Ambassador in Indonesia," President Prabowo said. On energy, President Prabowo highlighted great opportunities for cooperation, particularly in the development of biofuels and renewable energy. Indonesia has an ambition to increase the use of biodiesel to 50 percent by 2025, utilizing palm oil as the main raw material. Meanwhile, in the maritime sector, President Prabowo stated that Indonesia has the second or third largest fishery reserves in the world, but lacks 40,000 fishing vessels with a capacity of 150-300 GT. President Prabowo also invited Brazilian businesses to invest in this sector, while supporting Indonesia's natural resources downstream program. President Prabowo concluded his remarks by underlining Indonesia's commitment to creating a positive business climate that is open to foreign investment. "We are determined to create a positive business environment," the President said. Also accompanying President Prabowo at the event were Coordinating Minister for Economic Affairs Airlangga Hartarto, Minister of Foreign Affairs Sugiono, Cabinet Secretary Teddy Indra Wijaya, Deputy Minister of Finance Thomas Djiwandono, and Indonesian Ambassador to Brazil Edi Yusup. (BPMI Setpres)