Representatives of 20 businesses from South Africa and 60 Vietnamese businesses on Thursday attended a seminar and business matching event in Ho Chi Minh City to seek cooperation opportunities.
Kabelo Kenneth Malatsi, deputy head of export promotion at the South African Department of Trade and Industry, said that his country has a number of investment incentive schemes in advanced manufacturing, electronics and agriculture.
“But we are not only pushing for investment into South Africa. We are also saying that in order for South Africa to develop…we need to develop our neighbors as well. So we are also encouraging Vietnamese to invest not only into South Africa but also in its neighboring countries,” said Malatsi.
Ho Thi Ngoc Lan, export director of Topcake Joint Venture Co., said that South Africa is a good market for Vietnamese businesses as the number of local producers is modest while demand for consumer goods is high.
In addition, South Africa is a main gateway for businesses to other markets in Africa, Lan said.
During the seminar, South African Ambassador to Vietnam Kgomotso Ruth Magau handed over the South African government’s appreciation letter to Do Thi Kim Lien, Honorary Consul of South Africa in Ho Chi Minh City, for her contributions to promoting a positive image of the country in Vietnam.
Trade between South Africa and Vietnam reached US$1.2 billion in 2015 and is expected to increase two-fold to $2.4 billion this year.
Vietnam's main exports to South Africa include garment, footwear and agricultural produce and the major import items are fruit and wine.