The Vietnam – South African joint committee on trade cooperation convened its fifth meeting in Johannesburg on November 24 to seek ways to foster bilateral economic and trade partnerships.
Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (L) and South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina (Photo: VNA)
Pretoria (VNA) - The Vietnam – South African joint committee on tradecooperation convened its fifth meeting in Johannesburg on November 24 to seekways to foster bilateral economic and trade partnerships.
South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina stated that her country always attaches importance to therelationship with Vietnam, addingthat the signing and implementation of the African Continental Free Trade Area(AfCFTA) will create investment opportunities in a larger and more opencontinental market for Vietnamese businesses.
For his part, Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh said the event will contribute to deepeningthe good political, diplomatic and economic relations between the two countrieson the basis of mutual benefits.
Two-way trade between Vietnam and South Africa hit a record of nearly 1.4billion USD in 2020. Despite being effected by the COVID-19 pandemic, thefigure reached nearly 1.3 billion USD in 2021 and 1.1 billion USD in the first10 months of 2022.
Khanh also pointed out difficulties in economic and traderelations between the two countries, adding that the bilateral turnover is notcommensurate with the inherent potential of the two nations.
He proposed the two sides to enhance the sharing of informationon trade and investment policies and import - export regulations, promotecoordination and mutual support in trade and investment promotion activities, and studycooperation opportunities in logistics and other potential industrial fieldssuch as mining, mechanical engineering, metallurgy, iron and steel, renewableenergy, and food processing.
Participants discussed issues of mutual concern and opportunitiesfor cooperation in the future, and mentioned relevant difficulties and advantages.
🐷 The two sides agreed to organise the 6th meeting ofthe committee in Vietnam in 2023./.
Promoting cooperation with Vietnam will bring practical socio-economic benefits to South Africa, the African country's Deputy Minister of International Relations and Cooperation (DIRCO) Alvin Botes affirmed while accompanying a delegation of the Vietnamese Embassy on a recent working visit to Northern Cape province.
Vietnamese Ambassador to South Africa Hoang Van Loi has paid a visit to the city of Cape Town, Western Cape, seeking to boost relations in politics, diplomacy, economy, cultural and social affairs between the two countries.
Vietnamese Ambassador to South Africa Hoang Van Loi has called for the close coordination of the Cape Chamber of Commerce to help Vietnamese firms seek prestigious, long-term partners in Cape Town city and Western Cape province at large.
Leaders and the business community of South Africa’s KwaZulu-Natal province expressed their readiness to welcome Vietnamese enterprises to explore cooperation opportunities as well as strengthen relations between the countries, during a recent reception for Vietnamese Ambassador to South Africa Hoang Van Loi.
A delegation from the National Assembly (NA) Committee for External Relations led by its deputy head Le Anh Tuan made a working trip to South Africa from September 22-28.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (L) and South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina (Photo: VNA) 
