At the forum, businesses from both countries assessed the situation and investment and business environment of each country, clearly identified their strengths, and presented investment and trade cooperation opportunities, thereby enhancing connectivity and cooperation in all fields.
Speaking at the forum, South African Vice President Paul Shipokosa Mashatile warmly welcomed Prime Minister Pham Minh Chinh and the high-ranking Vietnamese delegation to South Africa, witnessing the spirit of Ubuntu - the spirit of unity, which South Africa is very proud of. This is a key moment for our two business communities. The organization of the forum on the occasion of the G20 Summit is an event following the very successful State visit to Vietnam by the South African President, opening a new chapter for bilateral cooperation.
The two governments reaffirmed their commitment to strengthening cooperation in a wide range of areas from trade, industry, agriculture , science and technology, renewable energy, and digital transformation. This visit not only strengthened the deep friendship between the two countries, but also successfully shaped a new direction of cooperation for development in the coming years.
Over the years, South Africa has been Vietnam's leading partner in the region... South Africa plays a role as a diversified economy in Africa, connecting 1.4 billion people in a single market. The African Free Trade Area brings benefits to both countries. However, there are many opportunities that we have not yet taken advantage of.
The two governments have committed to creating an enabling environment for investment; facilitating trade, promoting infrastructure, and providing financial support. South Africa encourages Vietnamese businesses to seek investment opportunities in South Africa's special economic zones; welcomes South African businesses to invest in Vietnam's industrial clusters and high-tech zones; and strengthens cooperation between the Chambers of Commerce and Industry of the two countries.
The forum is not only about economics, but also about partnership, growth, strengthening solidarity, South-South cooperation, inclusive development, innovation, and self-reliant development. Both countries support multilateralism and sustainable growth.
As the host of the 2025 G20 Summit, South Africa is emphasizing cooperation between emerging countries. Entrepreneurs are the driving force behind this process. The issue is to build bridges across the borders between the two countries. This forum needs to identify effective projects, promote joint ventures, industrialize skills to promote inclusive growth. The two governments are ready to support the business communities of both countries. We need to promote the relationship between the two countries to a new level.
Speaking at the forum, Prime Minister Pham Minh Chinh emphasized that the relationship between Vietnam and South Africa has recently been actively promoted, demonstrated through visits by senior leaders. At the same time, he emphasized that this forum is for meeting-connecting-acting, creating products with the spirit of "A creative state, pioneering enterprises, public-private partnership, a developed country, happy people, and benefiting entrepreneurs".
The Prime Minister pointed out that the two countries have very good political relations: they have both fought for national liberation and expressed their desire for freedom. We have stood side by side in this process, so there is no reason why we should not stand side by side for rapid and sustainable development. From a solid political foundation, we must bring out effective economic, investment and trade cooperation products in a balanced spirit. Therefore, the Prime Minister called on the business communities of the two countries to increase investment, solidarity, cooperation, and mutual support to "win together, develop together, and enjoy happiness together".
The Prime Minister said that Vietnam is implementing two 100-year strategic goals in an extremely difficult context. To achieve these two goals, Vietnam must achieve an economic growth rate of 8% or more this year, and double-digit growth in the following years to achieve the goal of becoming a high-income developed country by 2045.
The Prime Minister shared that agriculture helps Vietnam escape poverty; industry helps Vietnam reach upper middle income. From now until 2045, Vietnam is determined to rely on science and technology to turn the country into a developed country with high income. In that process, Vietnam also learns a lot from South Africa's experience.
To achieve this goal, Vietnam is making efforts to implement three strategic breakthroughs including institutional breakthroughs, infrastructure breakthroughs, and high-quality human resources breakthroughs; open policies, smooth infrastructure, people, and smart management. At present, Vietnam prioritizes macroeconomic stability, inflation control, ensuring major balances of the economy; a labor market that meets transformation requirements; and promoting growth...
The Prime Minister said that the current global and domestic situation has many difficulties, but Vietnam must promote growth, including skillful management and harmony between monetary and fiscal policies. Vietnam still has room to develop fiscal policies. Therefore, Vietnam needs to develop the capital market.
Regarding investment, the Prime Minister called on Vietnamese enterprises to invest in agricultural production in South Africa such as rice, products that South Africa is currently importing to meet South Africa's needs, and at the same time export to third countries. Next is energy development, including renewable energy. In this field, Vietnamese corporations such as Petrovietnam and EVN have many strengths and can cooperate and invest in South Africa. Vietnamese enterprises also have experience and can invest in developing logistics systems.
Regarding trade balance, the Prime Minister said that it is necessary to increase the export of South African products to Vietnam, moving towards signing an FTA between the two countries. The Prime Minister hopes that South Africa will invest in areas of new growth drivers such as innovation, green economy, creative economy...; increase processed products with the spirit of maximizing the potential differences, outstanding opportunities, competitive advantages, close cooperation mechanisms... we will turn natural potential into specific products, contributing to the development of each country.
Regarding cooperation mechanisms, the Prime Minister said it is necessary to upgrade the Intergovernmental Committee coordinated by the Foreign Ministers of the two countries to facilitate more cooperation; businesses also need to establish working groups to promote exchanges and seek opportunities.
Source: https://nhandan.vn/khuyen-khich-cac-doanh-nghiep-viet-nam-dau-tu-san-xuat-nong-nghiep-cong-nghiep-ngay-tai-nam-phi-post924836.html
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