1. Vietnam has maintained a relatively high economic growth rate of 7,5 % for the past 15 years. With a favorable economic and business environment, Vietnam has become an increasingly attractive destination for foreign investment. By December 2013, FDI in Vietnam reached US $ 21.6 billion, a 54.5% increase from 2012.
In foreign trade, Vietnamese products have entered different markets from all parts of the world. Vietnam has surpassed Brazil to become the world’s largest coffee exporter. We are now also among the world’s top-3 rice exporters, top-4 seafood exporters, while we are the world’s number one exporter of pepper, cashew nuts, and honey.
In addition, Vietnam has developed economic and trade relations with 220 countries and territories. As a member of ASEAN, Vietnam is party to 4 Free Trade Agreements (ASEAN – China FTA, ASEAN – India FTA, ASEAN – Korea FTA, ASEAN – Australia – New Zealand FTA). Vietnam is negotiating FTAs also with the EU, while negotiating the Trans Pacific Partnership Agreement (TPP).
2. With those internal economic success, Vietnamese businessmen have made efforts to invest in foreign countries, including those in the African continent.
By 2012, Vietnam had developed 18 investment projects in 11 African countries with a total investment capital of USD 1.1 billion. Among them, the Vietel Group invested USD 345.6 million in Mozambique, as well as USD 400 million in Cameroon in telecommunications infrastructure. Petro Vietnam invested USD 300 million in oil & gas in Algeria, Tunisia, Cameroon, and the Congo. Several Vietnamese private companies also invested in DAP and Urea manufacturing projects in Morocco and Egypt, in the assembling and manufacturing of agricultural machinery in Tanzania, and construction, roof-sheeting, making of two-wheelers, garments, electronics, soft drinks, forestry, as well as gold & mineral mining investments in Angola, South Africa, Ghana, Tanzania and Mauritius.
It should be noted that 7 African countries (namely Seychelles, Morocco, Nigeria, Mauritius, Egypt, Kenya and Sierra Leon) has been investing in Vietnam in 37 projects for food processing, manufacturing, wholesale & retail, repair, science & technology, accommodation, and consultancy, worth USD 67.76 million.
In South Africa, Vietnam has invested in 2 FDI projects with a total capital investment of USD 1.665 million, that helps to generate over 4,000 jobs for people in South Africa.
3. The Embassy of Vietnam in South Africa will make every effort to assist Vietnamese and South African businessmen to develop their business relationship, for the mutual benefit of the investors, as well as for the overall relations of friendship and cooperation between the two countries.