Prime Minister attends Viet Nam-South Africa Business Forum in Johannesburg

Pham made that above call while addressing the Viet Nam-South Africa Business Forum which took place in Johannesburg on November 21.

Pham said the two sides should strengthen collaboration in areas of energy and minerals, including renewable energy, infrastructure, construction, and logistics, high-tech agriculture and food processing, digital economy, telecommunications, and services, as well as education, training, and technology transfer.

Remarkably, the Prime Minister called on Vietnamese enterprises to invest in agricultural production in South Africa, especially rice and other farm products while the Viet Nam National Industry-Energy Group and the Viet Nam Electricity can invest in South Africa in the fields of energy, oil and gas, and renewable energy.

Pham urged the two countries to upgrade the Intergovernmental Committee coordinated by the two countries' Foreign Ministers, while also promoting the signing of new agreements to facilitate trade and investment cooperation, and establishing new working groups between both sides' enterprises.

Speaking at the event, Vice President Paul Shipokosa Mashatile said that South Africa encourages Vietnamese enterprises to seek investment opportunities in its special economic zones and calls on South African businesses to invest in Viet Nam's industrial clusters and technology zones.

South Africa supports cooperation between the two countries' Chambers of Commerce and Industry, he noted.

As this year's G20 host, South Africa emphasized that cooperation among emerging countries and the business community is the driving force of this process, adding that the two Governments stand ready to support their business communities and elevate bilateral trade and investment relations for sustainable prosperity.

South Africa is Viet Nam's largest trading partner and export market in Africa. Bilateral trade in 2024 reached US$1.72 billion, of which Viet Nam's export value amounted to about US$773 million.

As of October 2024, South Africa had 20 valid investment projects in Viet Nam, with a total investment capital of US$0.88 million, concentrated in science and technology, accommodation and food services, processing and manufacturing technology, and wholesale and retail.

Meanwhile, Viet Nam has four investment projects in South Africa with a total capital of US$8.865 million, ranking 43rd among 81 countries and territories where Viet Nam has overseas investment projects./.