Tuesday, June 28 2022

VietNamNews

Mozambique could be gateway for Vietnamese firms to access southern Africa

Update: June, 22/2022 - 16:03

 

Movitel, the telecommunications network of Viettel in Mozambique. There is significant room for Việt Nam and Mozambique to increase trade and investment cooperation. — Photo vneconomy.vn

HÀ NỘI — Mozambique could act as a gateway for Vietnamese businesses to penetrate member countries of the Southern African Development Community (SADC), President of the Mozambican Assembly Esperanca Laurinda Francisco Nhiuane Bias said at a meeting with representatives of the Vietnamese business community in Hà Nội on Tuesday.

Held by the Việt Nam Chamber of Commerce and Industry (VCCI) and the Mozambique Embassy in Việt Nam, as part of the President of the Assembly's visit to Việt Nam, she called on Vietnamese enterprises to invest in tourism, mining, energy and agriculture, in which Mozambique has potential.

She stressed the African nation had established a portal providing information for both private and state-owned firms to support investors.

She suggested that Vietnamese and Mozambican businesses maximise the benefits offered by cooperation agreements reached by the two countries, and expressed her hope that after the meeting, more Vietnamese firms would come to operate in Mozambique.

VCCI’s Chairman Phạm Tấn Công emphasised that apart from political ties, bilateral economic and trade relations had seen positive signs recently.

During the 2020-2021 period when COVID-19 was still rampant, two-way trade exceeded US$150 million, he said.

Pointing out optimal cooperation potential between the two countries, Công suggested that Vietnamese firms consider investment opportunities in Mozambique, particularly in agriculture, heavy industry, infrastructure, finance, health care, and information technology and telecommunications (ICT).

Along with traditional goods like rice, cable lines, fertilizers, garment textiles, steel, cashew nuts and wood, among others, Vietnamese and Mozambican enterprises should expand the list of goods that could be exchanged such as farm produce, construction materials and medical equipment of Việt Nam, and some agricultural products and minerals of Mozambique, he said.

According to Đỗ Thị Quỳnh Nga, Director of the Investment Promotion Centre, North Việt Nam, under the Ministry of Planning and Investment, Mozambique is one among countries that Việt Nam prioritised promoting relations in Africa.

Currently, Vietnamese businesses were actively exploring and penetrating the African market in general, and in particular Mozambique.

Việt Nam has three projects in Mozambique, making the country the 13th country of out 79 countries and territories where Việt Nam has poured investment.

A notable project was the $345 million investment of Viettel in telecommunications in Mozambique.

Nga stressed that Việt Nam and Mozambique have great potential to enhance cooperation in economy, trade, science and technology, culture and social cooperation.

She said that with rapid international integration, Việt Nam was becoming a strategic investment destination for foreign companies in the process of restructuring the global and regional supply chains.

Việt Nam is continuing to improve the legal framework and the investment environment for foreign investors, Nga said, adding that attracting Mozambican businesses to invest in Việt Nam was also an important factor to promote economic and trade ties between the two countries.

Việt Nam always welcomed Mozambican investors, Nga stressed.

Besides, Việt Nam and Mozambique need to support each other in expanding trade to other countries in the region, Nga said, adding that Việt Nam is willing to be a gateway for Mozambican products to penetrate the Southeast Asian markets.

Việt Nam also wants Mozambique to be a bridge for Vietnamese goods to penetrate the large and promising markets in southern Africa.

The two countries will celebrate the 50th anniversary of the establishment of diplomatic relations in 2025. — VNS

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