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Viet Nam attracts S Africa investment

Update: October, 31/2013 - 08:38
Adriaan Du Pisiane, First Secretary at the South African Embassy in Viet Nam described the mining industry as the country's spearhead, noting that South Africa was the world's largest gold and platinum miner.—File Photo
CAN THO (VNS)— Viet Nam has become a promising destination for businesses, investors and tourists from South Africa, heard a seminar in the Mekong Delta city of Can Tho yesterday.

Speaking at the "Viet Nam-South Africa trade and investment" seminar hosted by the Viet Nam Chamber of Commerce and Industry's Can Tho branch, municipal People's Committee Dao Anh Dung vice chairman said Viet Nam and South Africa boasted a lot of strengths to further their comprehensive relationship, especially in economics and trade.

He said over the past two decades, bilateral ties have developed fruitfully in various areas ranging from politics and diplomacy to economics, culture, education and national security and defence.

An array of agreements and memoranda of understanding on economic and tourism co-operation had been signed by the two countries, he said, adding that Viet Nam's exports to South Africa reached US$630 million last year, while South Africa shipped $120 million worth of goods to the Southeast Asian country.

Adriaan Du Pisiane, First Secretary at the South African Embassy in Viet Nam, said infrastructure and services in his country were evaluated as the best among those in developing nations, especially roads, sea ports, banking system, vessels and telecoms.

As the economic pillar of the entire Africa, South Africa's economy were ranked high among developing economies, even surpassing India, Italy and the United Arab Emirates, he said.

He described the mining industry as the country's spearhead, noting that South Africa was the world's largest gold and platinum miner.

South Africa took the lead in Africa in telecommunications and boasts strengths in ecological and archaeological tourism, he said, adding that it is also one of the exporters of diverse goods to the UK, the US, Germany and Japan.

Farm produce processing, auto industry, transportation, chemicals, pharmaceutical products, bio-technology, mining, metallurgy, garment and textile, footwear, electronic industry and technology were areas of the country's strengths.

South Africa has launched many programmes to attract foreign investors , including Industrial Development Zone, Critical Infrastructure, Technology and Human Resource for Industry, and National Industry Participation. — VNS

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