Hanoi (VNA) – The Ministry of Industryand Trade (MoIT) recently sent a delegation of 20 Vietnamese businesses toSouth Africa to scope out the market.
The country is now Vietnam’s biggest trade partner inAfrica with annual two-way trade exceeding 1.2 billion USD between 2019 and2021, according to Pham Thanh Hai, First Secretary at the Vietnam Trade Officein South Africa.
It mainly imports aquatic products fromVietnam, and the demand is expected to grow in the time ahead, the officialsaid, noting that supermarkets there serve not only local residents but alsothose from neighbouring countries of South Africa.
However, due to the long geographical distance, manyVietnamese enterprises have yet to pay attention to the market. Besides, they havealso faced limited access to market information.
Given this, the Vietnam Trade Promotion Agency(VIETRADE) has organised many consulting sessions on the Middle East andAfrica, providing information about the market, import-export rules and otherissues for domestic firms.
At a recent Vietnam-Durban Business Forum 2022, VietnameseAmbassador to South Africa Hoang Van Loi said Vietnamese businesses areincreasingly interested in the market and want to explore investmentopportunities to utilise free trade agreements between South Africa and majormarkets.
Bilateral trade turnover between Vietnam and SouthAfrica topped 1 billion USD in the first nine months and is expected to reach1.3 billion USD this year./.
Vietnam is determined to bolster the comprehensive partnership with South Africa – an important cooperation and development partner in Africa, Deputy Foreign Minister Pham Quang Hieu has stated.
There are plenty of opportunities for Vietnamese goods to enter South Africa and the regional countries, and for the two sides to boost business in multiple areas, Pham Thanh Hai, head of the Trade Office in South Africa, told Vietnam News Agency on August 19.
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.
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.
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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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Source: VNA) 
