Doing business with Vietnam
Grant Adlam
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The Durban Chamber of Commerce and Industry NPC held a business trade delegation visit with delegates from Vietnam on Friday, 4 November 2022.
The purpose of the “Doing business with Vietnam” event was to host “(B2B) business match-making”, between South African (Durban) and Vietnam businesses, and further to strengthen trade relationship between both countries.
Palesa Phili, Chief Executive Officer at Durban Chamber of Commerce and Industry (DCCI), has previously said that she is ready to act as the focal point as well as coordinate with the Vietnam Trade Office and the Vietnamese Embassy in South Africa to promote the connection between enterprises of the two countries.
Vietnamese businesses are increasingly interested in the South African market and want to explore investment opportunities to take advantage of the free trade agreements that South Africa has signed with major markets, including the US and Europe as well as the African market, Vietnamese Ambassador to South Africa Hoang Van Loi has said.
Besides Durban, Vietnamese businesses will also seek cooperation and investment opportunities in Pretoria, Johannesburg and Cape Town.
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Ambassador Loi highlighted the great potential for goods exchange between the two countries. He suggested the joint venture model as a potential choice for Vietnamese investment in South Africa in a number of potential sectors such as clean energy, furniture, household appliances, garment-textiles and agricultural product processing.
The Vietnamese Embassy and the Vietnam Trade Office in South Africa will do their best to act as a bridge connecting the business communities of the two countries for their common interest and the benefit of enterprises, especially in the context that the two countries will celebrate the 30th anniversary of the establishment of diplomatic ties in 2023, Loi said.
Bilateral trade turnover between Vietnam and South Africa topped 1 billion USD in the first nine months and is expected to reach 1.3 billion USD this year.