VN businesses seek investment opportunities in South Africa

Viettel Group had begun operations in South Africa. Photo dantri.com.vn

Chargé D'Affaires of the South African Embassy in Ha Noi Mat Matiwane made this announcement at a workshop on the Viet Nam-South Africa Trade and Tourism Opportunities Promotion, held in Da Nanng yesterday.

He said South Africa has been developing its infrastructure, and more partners from Viet Nam will join ventures not only in South Africa but also in other countries in the southern part of the African continent.

He stressed that Vietnamese telecommunications company Viettel Group had begun operations in South Africa.

The workshop, which was organised by the Viet Nam Chamber of Commerce and Industry (VCCI) in collaboration with South Africa's embassy in Viet Nam, aims to offer investment opportunities for businesses in central Viet Nam.

South Africa has invested US$100 billion in developing its infrastructure over the past five years, and an estimated $400 billion will be poured into infrastructure projects over the next 15 years.

According to VCCI's Da Nang office, only 20 enterprises from Thua Thien Hue, Quang Nam and Da Nang export crafts, fine arts, leather and garments, as well as bamboo and rattan products and stone sculptures valued at hundreds of thousands of dollars.

Workshops have been organised by the VCCI and the Embassy in the central provinces since 2013, but it is rare for investment projects to be started by businesses from the region and South Africa.

In March, a familiarisation trip was held for travel agencies from South Africa to visit destinations in the Hue, Da Nang and Quang Nam provinces.

According to VCCI, bilateral trade reached a value of $962 million last year, a year-on-year increase of 5 per cent, with Viet Nam's exports accounting for $815 million.

South Africa also sent a team to compete in the 2015 Da Nang International Fireworks Competition.

The central coastal city of Da Nang ranked sixth on a list of the world's 10 most improved tourist cities, according to the website The Richest. UNESCO-recognised world heritage sites in Viet Nam include My Son Sanctuary and the ancient town of Hoi An, as well as Cham Island, a world biosphere reserve in Quang Nam Province. The complex of Hue monuments, Phong Nha-Ke Bang National Park and Son Doong Cave, the largest known cave passage cross-section in the world, located in Quang Binh Province, are also major tourist attractions.

South Africa also has numerous destinations that are enjoyed by Vietnamese tourists.