Bringing Vietnam-South Africa relations into a new phase

Although geographically distant, Vietnam and South Africa share many similarities such as rich cultural heritage, history of fighting for independence and both have become vibrant democracies with strong national identities.

Delegation from the South African Ministry of Forestry, Fisheries and Environment during a visit to Vietnam.

The relationship between the two countries dates back to the days of fighting for national independence, sharing deep values ​​of solidarity. Currently, Vietnam and South Africa are making efforts to promote bilateral trade, expand cooperation in key areas with the aim of bringing the relationship into a new stage of development.

Over the past 30 years, trade between Vietnam and South Africa has grown steadily and there is still much potential to expand cooperation. Total bilateral trade turnover in 2024 will reach nearly 1.8 billion USD.

As of July 2025, South Africa has 20 valid investment projects in Vietnam, with an investment capital of 0.88 million USD, ranking 109th out of 151 countries and territories investing in Vietnam. Vietnam has four investment projects in South Africa with a total capital of 8.86 million USD, ranking 45th out of 84 countries and territories where Vietnam invests abroad.

Total bilateral trade turnover in 2024 will reach nearly 1.8 billion USD. As of July 2025, South Africa has 20 valid investment projects in Vietnam, with an investment capital of 0.88 million USD, ranking 109th out of 151 countries and territories investing in Vietnam. Vietnam has four investment projects in South Africa with a total capital of 8.86 million USD, ranking 45th out of 84 countries and territories where Vietnam invests abroad.

Vietnamese enterprises invest mainly in tourism services, agricultural and forestry trade.

The two sides also have the potential to promote cooperation in areas such as mineral exploitation, mechanics, metallurgy, iron and steel, renewable energy, textiles, footwear, fertilizers, processed foods, and supporting industries.

South Africa is Vietnam's leading important partner in the region. Vietnam and South Africa agreed to soon agree on a list of 50 potential export items to each other's markets; promote tourism cooperation by simplifying entry visa procedures in each country; encourage and facilitate businesses of the two countries to invest in the fields of electric cars, mineral processing, electronic components, industrial machinery, oil and gas, renewable energy, software, furniture, etc.

The two sides will increase the sharing of market information, investment incentives, and organize promotion delegations and forums/talks to explore investment opportunities between the two countries.

In addition to exchange and cooperation activities between businesses, South African ministers and many officials have visited Vietnam to learn from experience.

According to Mr. Vincent Magwenya, Spokesperson for President Cyril Ramaphosa, South Africa finds great inspiration in the way Vietnam rebuilt after the war and he believes there are many lessons that South Africa can learn from Vietnam.

South Africa finds great inspiration in the way Vietnam rebuilt after the war and he believes there are many lessons that South Africa can learn from Vietnam.

(Mr. Vincent Magwenya, Spokesperson for President Cyril Ramaphosa)

According to him, those are the outstanding benefits of the relationship over the past three decades since the two countries established diplomatic relations. As two developing economies, Vietnam and South Africa can learn from each other about financial and economic management methods, especially in emerging issues such as cybercrime prevention...

Meanwhile, South African localities are rich in resources, each with its own strengths, and have always expressed their willingness to cooperate with Vietnamese partners.

Faced with profound changes in the world and regional situation in recent times, South Africa has overcome many challenges and achieved achievements in national development, especially in implementing the goals of the "National Development Plan - Vision 2030" to improve people's lives and reduce poverty and inequality in society.

As one of the leading countries in attracting foreign investment in Africa, mainly from major countries such as the US, UK, France, Germany, and Japan, South Africa is looking to expand cooperation with the Southeast Asian region, including Vietnam, to realize the strategic goal of trade diversification.

Both Vietnam and South Africa are looking to the future with the door of cooperation wide open to welcome new development opportunities.

THANH VAN

Source: https://nhandan.vn/dua-quan-he-viet-nam-nam-phi-buoc-vao-giai-doan-moi-post917317.html