Hai Duong Provincial Party Secretary Tran Duc Thang promotes trade and investment in South Africa

This is an activity organized by Hai Duong province in coordination with the Vietnamese Embassy in South Africa and the South African Chamber of Commerce and Industry.

Attending the conference were nearly 50 representatives of South African businesses investing in the fields of energy, medical pharmaceuticals, mining, financial investment, golf course development, etc.

Speaking at the conference, Hai Duong Provincial Party Secretary Tran Duc Thang outlined the socio-economic development of Hai Duong, areas attracting investment, and Hai Duong's potential for cooperation and development with South African enterprises in the fields of industry, agriculture and services. He informed that the province is committed to creating the most favorable conditions for South African enterprises to invest in Hai Duong.

Mr. Neil Pollock, Vice President of the South African Chamber of Commerce and Industry, spoke and thanked the leaders of Hai Duong province for providing information to help South African businesses better understand Vietnam in general and Hai Duong province in particular. Thereby, he hoped that there would soon be businesses investing in the province as well as many Vietnamese businesses investing in South Africa. The South African Chamber of Commerce and Industry will be an effective bridge to realize the contents of investment and trade promotion at the conference.

At the conference, many businesses were interested in learning more about the investment environment in Hai Duong and received specific answers from provincial leaders.

Previously, on June 15, the delegation visited and worked with the Vietnamese Embassy in South Africa. Ambassador Hoang Sy Cuong informed the delegation about the socio-economic development situation of South Africa, the diplomatic relations between Vietnam and South Africa, and the situation of Vietnamese people in South Africa.

According to the working program, on June 18, the delegation will meet and exchange information with leaders of the South African Ministry of Foreign Affairs; work with the South African Fruit and Vegetable Import-Export Association.

South Africa is currently Vietnam's second largest trading partner and export market in Africa in 2023, with an exchange turnover of nearly 1.2 billion USD. Vietnam's trade surplus is nearly 340 million USD, mainly including phones of all kinds and components, computers, electronic products and components, machinery, equipment, tools and other spare parts, textiles, etc.

As of May 2023, South Africa has 19 investment projects in Vietnam with a total capital of 0.62 million USD, mainly in the fields of restaurants, manufacturing, and beverages, ranking 105/139 countries and territories investing in Vietnam. Vietnam has 3 investment projects in South Africa with a total registered capital of 8.16 million USD.

The two countries have cooperated with the Republic of Guinea to implement a tripartite cooperation project on “Improving rice and vegetable productivity in Guinea” in the Republic of Guinea (from 2008 to 2014), in which South Africa funded 6 million USD and Vietnam sent 14 agricultural experts and technicians to work in Guinea. The project results were highly appreciated by the President of Guinea in terms of technology transfer, contributing to increasing the average yield from 2.6 tons to 06-07 tons/ha and achieving an output of 170 thousand tons of rice and over 800 tons of vegetables.