Ambassador Fernando Miguel: Approach the Angolan market with the mindset of a long-term strategic partner, together building a sustainable value chain

Ahead of the State visit to Angola by President Luong Cuong, Angolan Ambassador to Vietnam Fernando Miguel shared with TG&VN his expectations for the historic visit for bilateral relations as well as the potential for economic cooperation between the two countries in the coming time.

President Luong Cuong received Angolan Ambassador to Vietnam Fernando Miguel on April 24. (Source: VNA)

Ambassador, please tell us the significance of President Luong Cuong's state visit to Angola this time for bilateral relations?

The State visit of President Luong Cuong to Angola is of great significance, marking a turning point in the history of the traditional friendship between the two countries. This is the highest-level visit by a Vietnamese leader to Angola in nearly two decades and takes place at a time when the two countries are celebrating the 50th anniversary of the establishment of diplomatic relations (1975-2025), thus further demonstrating the stature and symbolism of the event. The visit not only demonstrates Vietnam's importance to its relationship with Angola, but also creates new political momentum, comprehensively promoting bilateral cooperation in all fields.

Angolan Ambassador to Vietnam Fernando Miguel. (Source: Angolan Embassy in Vietnam)

During the visit, the two sides will sign many important cooperation documents, hold high-level meetings as well as meetings between ministries and businesses. This will be an opportunity to review the implementation of existing agreements, identify new priorities and establish a favorable legal framework for future cooperation initiatives.

I believe that this visit will lay a solid foundation for opening a new stage of development in relations between the two countries, not only in political depth but also in economic and cultural breadth.

How does the Ambassador assess the potential for economic cooperation between the two countries in the coming time, especially after this important visit?

The potential for economic cooperation between Angola and Vietnam is huge and promising, although it has not yet been fully exploited in accordance with the actual capacity and needs of each side.

With a population of nearly 36 million, Angola is one of the markets with the largest consumption potential in Africa, especially in the fields of consumer goods, processed agricultural products, pharmaceuticals and technological equipment. In addition, Angola is also a country rich in natural resources, including rich mineral reserves, tropical timber, large areas of arable land and many valuable river basins, creating favorable conditions for investment and production activities.

Meanwhile, Vietnam has many competitive advantages in producing, processing and exporting goods suitable for the consumption needs of the Angolan market, creating a solid foundation for enhancing trade exchange and economic cooperation between the two countries.

A delegation of the Communist Party of Vietnam led by Head of the Central Propaganda Department Nguyen Trong Nghia visited and worked in Angola in May 2024. (Source: VNA)

In recent years, bilateral trade turnover has fluctuated at 150-200 million USD per year, but this figure is still too modest compared to the actual potential. In particular, areas such as oil and gas, telecommunications, agriculture, health care and vocational training are areas of great interest to Angola and Vietnam has rich practical experience.

The two sides are making efforts to negotiate and sign important agreements such as the Investment Promotion and Protection Agreement, the Double Taxation Avoidance Agreement, and memorandums of understanding on trade, agriculture, and industry cooperation, which will open up favorable legal corridors for businesses of the two countries to feel secure in investing and expanding long-term cooperation.

In addition, Angola is implementing the National Development Strategy for 2023-2027, focusing on industrialization, sustainable agriculture and digital transformation. These are areas where Vietnam has practical strengths and experience, which can be shared through a “mutual development” cooperation model instead of just simple trade exchanges. I believe that after this visit, we will witness a new wave of bilateral economic cooperation, more practical and effective.

What is your opinion on the role of the Vietnamese business community in Angola, as well as current potential investment opportunities?

The Vietnamese business community in Angola, although mostly small and medium-sized enterprises, has been playing an important role in promoting economic and trade relations between the two countries. Vietnam currently has the largest overseas Vietnamese community in Angola, and is also the largest Vietnamese community in Africa, with nearly 8,000 people living and working, mainly concentrated in the capital Luanda and neighboring provinces.

They operate in many fields such as construction, trade, services, electronics, education and health. The diligence, creativity and high adaptability of the Vietnamese people have helped them affirm a solid position in the local economy.

As Angola gradually improves its investment climate and encourages the private sector to play a role as a growth engine, many new opportunities are opening up for foreign businesses. Priority areas for investment currently include: Agricultural production and food processing (to reduce import dependence), light industry, pharmaceuticals, logistics infrastructure, telecommunications, education and vocational training, financial services and digital technology.

Vietnamese enterprises access the market and sign investment projects in Angola in March 2025. (Photo: Vietnamese Embassy in Angola)

The Angolan government has simplified investment licensing procedures, exempted tariffs for priority projects, and established special economic zones with a one-stop mechanism. In addition, the stability of the local currency (Kwanza) in recent years has also created more favorable conditions for profit remittance. I encourage Vietnamese enterprises, including large corporations and small and medium enterprises, to approach the Angolan market as long-term strategic partners, together building sustainable value chains in Africa.

How does the Ambassador feel about Vietnam's development in recent years, especially Vietnam's role and position in the international arena?

Vietnam has achieved impressive socio-economic achievements, contributing to enhancing its position and role in the international arena. Although the world is facing many complex fluctuations and unprecedented challenges, Vietnam has maintained a stable economic growth rate, with an average GDP increase of over 6% in the period 2016-2024. Vietnam is currently among the 40 largest economies in the world, and is one of the world's leading exporters of electronics, textiles, seafood, coffee and rice.

Vietnam has also affirmed its position as a key trade partner of many major economies. The country is currently among the top 20 largest exporters in the world and has participated in many new-generation free trade agreements such as CPTPP, EVFTA, RCEP, etc. These agreements not only expand the foreign economic space, but also demonstrate the deep integration and increasing competitiveness of the Vietnamese economy.

Rice is one of Vietnam's key export items to Angola. (Source: VNA)

In terms of foreign affairs, Vietnam is demonstrating its role as an active, responsible and trustworthy partner in the international community. The successful assumption of the role of ASEAN Chair in 2020, non-permanent member of the United Nations Security Council for the 2020-2021 term, and the successful organization of many major international events, have consolidated Vietnam's position as a country of increasing prestige and influence. Vietnam's foreign policy of independence, self-reliance, multilateralization and diversification of international relations is highly appreciated by the international community, actively contributing to the maintenance of peace, stability and sustainable development in the Asia-Pacific region and beyond.

Vietnam has also established and strengthened strategic and comprehensive partnerships with many developed and developing countries. With a favorable geopolitical position, a flexible foreign policy and a bridge between ASEAN and Africa, Vietnam is increasingly playing the role of an effective bridge between regions, creating favorable conditions for South-South cooperation.

I appreciate the strategic vision, the spirit of overcoming difficulties and the development aspirations of the Vietnamese people. I believe that, with the solid foundations that have been built over the years, Vietnam will continue to develop strongly, making increasingly positive contributions to peace, stability and common prosperity in the region and the world.

Thank you very much Ambassador!

Source: https://baoquocte.vn/daily-su-fernando-miguel-hay-tiep-can-thi-truong-angola-voi-tam-the-doi-tac-chien-luoc-lau-dai-cung-xay-chuoi-gia-tri-ben-vung-323414.html