Increasing Vietnam-Mozambique investment efficiency
(VOV) - The governments of Vietnam and Mozambique should create more favourable conditions for their business communities to enter each other’s markets.
Businesses made the proposal at a joint roundtable on Vietnam-Mozambique trade and investment promotion in Hanoi on June 12.
Deputy Minister of Planning and Investment Dao Quang Thu noted that bilateral investment cooperation remains modest, mostly in agriculture and telecommunications.
However, he said the success story of Vietnam’s military-run telecom group (Viettel) which has been implementing telecom projects in Mozambique is an exemplary role model of Vietnam-Mozambique investment cooperation that needs to be replicated in the future.
Aiuba Cuereneia, Mozambique Minister of Planning and Development, said that trade exchanges between the two countries, mostly of cashew nuts, timber, coconuts, rice and power generators, are growing and flourishing, benefitting their business communities.
He called on Vietnamese businesses to invest in banking, finance, farm produce planting and processing, transportation and telecommunications in Mozambique to increase the efficiency of their investment.
To date Vietnamese businesses have poured US$350 million into Mozambique projects, ranking them 8th among 60 countries and territories that have received Vietnamese investment.
Major investment areas include agriculture, forestry-fishery product processing, household utensil manufacturing, oil&gas exploration, mineral ore exploitation, and construction.