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VietNamNews

S Africa seeks VN investment

Update: March, 01/2014 - 09:00
Photo kktbinhdinh

BINH DINH (VNS) — South Africa has sought to partner with the central province of Binh Dinh in the fields of wood industry and tourism.

The South African Ambassador to Viet Nam Kgomotso Ruth Magau expressed the desire during a workshop held in the province on Thursday.

He pointed out that Viet Nam is now one of South Africa's important economic partners and the country is willing to create the best conditions for investors from Viet Nam.

First Secretary of the Republic of South Africa MC Van Der Westhuizen said the wood industry was a rising sector in his country, where raw materials were abundant.

Meanwhile, Binh Dinh is one of Viet Nam's three largest wood-production localities, generating US$2.3 billion in export turnover since 2010. The locality exports its wooden products to 70 countries and territories across the world.

South Africa has called for investments in farm produce processing, automotive and ancillary industries, chemicals and plastics and electronics.

The country has also sought investments in sectors such as IT and communications, metallurgy, transportation and garments and textiles, as well as footwear and tourism.

In 2013, Viet Nam's exports to South Africa reached $1.061 billion and the country imported $155 million worth of goods from the latter. — VNS

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