Vietnam and South Africa promote trade and investment cooperation

VOV.VN - Vice Chairman of the National Assembly of Vietnam Vo Hong Thanh on July 14 held a working session with the South African Chamber of Commerce and Industry (SACCI) during his ongoing working visit to the African nation to sound out cooperation opportunities.

During the meeting, Thanh provided an overview of Vietnam’s socio-economic development, highlighting key achievements in GDP growth, exports, foreign investment attraction, macroeconomic stability, and institutional reforms. He emphasised that both Vietnam and South Africa have significant potential and complementary strengths, and that the bilateral relationship still holds considerable room for further growth, especially in trade, investment, and business engagement.

He highly appreciated the recent signing of a Memorandum of Understanding (MoU) between SACCI and the Vietnam Chamber of Commerce and Industry (VCCI), calling it an important foundation for boosting cooperation between the business communities of both countries. He recommended that both sides actively share information on their investment environments, trade policies, market demands, and cooperation opportunities to facilitate mutual development.

Meanwhile, SACCI CEO Alan Mokoki-Hlongwane commended Vietnam as a serious and committed partner in economic and people-to-people relations. He noted that the two countries share similar visions for development, particularly in promoting sustainable economic growth and addressing domestic challenges such as unemployment and inequality.

Mokoki-Hlongwane pointed out that, as South Africa is intensifying efforts to combat rising unemployment, strengthening economic and trade cooperation with Vietnam could serve as an effective solution to drive national development and social stability. He also expressed hope for elevating bilateral cooperation through effective and regular dialogue mechanisms.

To effectively implement the MoU, the SACCI CEO proposed the establishment of a Vietnam–South Africa Business Council, consisting of 6 to 12 business representatives from each side, with a mechanism for regular quarterly meetings to exchange views on collaboration opportunities and define shared goals in trade and investment.

Thanh welcomed SACCI’s initiative and pledged to report the proposal to VCCI for further discussion and implementation. He affirmed that the Vietnamese National Assembly always supports the strengthening of bilateral parliamentary cooperation and stands ready to create favourable conditions for businesses from both countries to expand long-term partnerships and investments.

Earlier, National Assembly Vice Chairman Hong Thanh visited the Embassy of Vietnam in Pretoria and held a meeting with Embassy staff and representatives of the Vietnamese community in South Africa.

Thanh shared that South Africa is Vietnam’s largest trading partner and top export market in Africa, with bilateral trade reaching nearly US$1.8 billion in 2024. South Africa is also the first and only African country recognised as a “Partner for Cooperation and Development” by Vietnam. He recalled the historic phone conversation in April 2025 between Party General Secretary To Lam and President of South Africa, also the leader of the African National Congress (ANC) Cyril Ramaphosa, during which both sides outlined strategic directions for deepening bilateral ties.

He stated that his current visit aims to implement high-level commitments, reinforce political relations, and strengthen parliamentary cooperation, making it a pillar of bilateral relations. The visit also seeks to expand cooperation, tap into both countries' potential, and realise shared goals in a new development phase.

The legislator briefed the participants on Vietnam’s developments, and reaffirmed the Party and State’s consistent policy of caring for overseas Vietnamese communities. He praised the contributions of overseas Vietnamese, especially in South Africa, noting with pleasure the community’s growing stability, unity, and development. He encouraged them to continue preserving their national identity, language, and cultural traditions, to live and work lawfully and integrate well into South African society, and to serve as a vital bridge to promote Vietnam–South Africa friendship.

He highly appreciated the efforts of the Embassy of Vietnam in South Africa, and urged it to further enhance support for the overseas Vietnamese, foster solidarity, and organise more activities that strengthen the connection between the diaspora and the homeland.

There are around 200 Vietnamese currently living and studying across various South African cities.

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