South Africa – Vietnam Investment Forum
(l-r) Charles Manuel, DTI, Ambassador Le Huy Hoang, Chairman Pham Van Vong, Vice Chairman Ha Hoa Binh and Laurence Saville, JCCI
H.E Mr. Pham Van Vong, Chairman of the Provincial Council of Vinh Phuc Province headed the Investment delegation to South Africa.
Vinh Phuc province is Vietnam’s most successful provinces attracting investment worth USD 3billion from 158 companies from 14 countries. It is located on the Red River Delta next to Hanoi. Its continuous annual growth rate of 16% has seen its economic structure shift from agriculture and forestry towards industrial development, construction and services. Several incentives, including a one stop Investment Promotion Agency, tax and others were offered for investment at the forum.
The South Africa Vietnam Investment Forum that took place in Rivonia at the Vietnamese Restaurant, Saigon invited South African business to seek out business and investment opportunities in Vietnam. They included opportunities in agriculture, electronics, automotive, and the services sector.
Vietnam’s economy has been growing at a steady rate of 7,5 % explained Ambassador Le Huy Hoang, Ambassador of Vietnam to South Africa in his remarks stating that his country is certainly an attractive investment destination for South African business. Vietnam has become the world’s largest coffee exporter and the second largest rice exporter.
Charles Manuel of the Department of Trade and Industry (DTI) of South Africa pointed out that cordial and strengthening relations between the countries made doing business between the countries easier and that there was room for improving the trade figures.