A seminar entitled “Promoting Bilateral Trading, Investment, and Tourism Activities between Da Nang and South Africa” took place in the city on Wednesday.  It was organised by the Da Nang branch of the Viet Nam Chamber of Commerce and Industry (VCCI).

Addressing the event, the First Secretary (Political) at the Embassy of the Republic of South Africa in Viet Nam, Mr Adriaan Du Pisanie, said that South Africa is emerging as a new attractive investment destination.  This has been attributed to the abundant natural resources, the political and economic stability, the world-class financial system, the favourable investment environment, preferential policies, and an easy access market.

At present, the number of South African investment projects in the central region of Viet Nam still remains low.  Meanwhile, only 37 of the region’s businesses are exporting their products to South Africa.  These products are car tyres, children’s toys, incense, plastic folding doors, textiles, garments and footwear, seafood and agricultural products, products made from bamboo and rattan, and wooden furniture.  The region is expected to earn over 13 million USD from exports to South Africa by the end of this year.

However, the number of cooperative programmes between Da Nang and South Africa is still very low due to the lack of mutual information exchanges and the disadvantage of their geographical distance apart.

Last year, the two-way trade turnover between South Africa and Viet Nam reached 613 million USD.  Of this, Viet Nam recorded a trade surplus of more than 522 million USD.