Hanoi (VNA) – A Vietnam -Sierra Leone business forum was organised in Hanoi on March 16 to explore opportunities for boosting bilateral trade and investment ties.

The event was held as part of an officialvisit to Vietnam by President of Sierra Leone Julius Maada Bio, the first-evertrip by a head of state between the two countries.

In his speech, Chairman of theVietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong said the twocountries have recently recorded encouraging signs in their economic and trade relations.

Bilateral trade stood at 49.26million USD in 2020, surging by over 200 percent from 17 million USD in 2018.Vietnam mainly exports cigarettes, computers, textile - garment products, andmaterials to Sierra Leone while importing timber and wood products from thelatter. The African nation is investing in a marketing and human resourcesmanagement project worth over 33,000 USD in Vietnam.

As a gateway to Southeast Asia,Vietnam hopes to continue receiving attention from Sierra Leonean enterprises inthe time ahead, Cong said.

He also called on the countries’ businesses to increase sharing information andseeking partnership opportunities, suggesting them explore trading chances forpotential products like farm produce and medical supplies of Vietnam and someagricultural products and minerals of Sierra Leone.

Vietnamese firms can also considerinvesting in agriculture and fisheries in Sierra Leone, which is a gateway tothe large Western Africa region and has the deep-water Freetown Terminal, Congrecommended.

He added VCCI is ready to cooperatewith Sierra Leonean authorities and continue serving as a bridge linking bilateraltrade and investment activities.

Sierra Leonean Minister of Trade and Industry Edward Hinga Sandy said his countryhas been making great strides in boosting investment. It is exporting mainly palmoil at present and plans to switch to timber, wood products, and ore mining inthe time ahead.

Expressing his wish to step up bilateralcooperation, he said businesses of Vietnam and Sierra Leone hold numerousopportunities to invest in each other’s country and then increase tradingwith other nations in the regions.

Echoing the view, Chief Minister JacobJusu Saffa said Sierra Leone boasts huge untapped potential as well as a healthyand promising investment climate for foreign enterprises. Its governmentsupports and encourages investment, continually make adjustments to haveappropriate policies, and issues attractive financial and tax support forbusinesses, he added.

He expressed his hope that Vietnamesecompanies will enhance ties with Sierra Leone to generate profit and value forboth countries.

At the event, participants discussedinvestment opportunities in agriculture and fisheries of Sierra Leone,cooperation in technology, and measures for bolstering bilateral trade./.