South Africa is an economic 'locomotive' market says Vietnam
26 Aug '05
6 min read
In the service and investment field, the two countries have not reached the expectations and potentials. Vietnam has set up agent relations with some banks of South Africa. In tourism, South Africa is the African country with the largest number of tourists to visit Vietnam. In 2002, 2,741 African tourists visited Vietnam, including 1,405 people from South Africa. Currently, Vietnam and South Africa are carrying out programmes to boost tourism and trade.
South Africa has no investment project in Vietnam and Vietnam also has no projects in South Africa. The two nations have not established the bilateral cooperation in intellectual property although both are members of the World Intellectual Property Organization (WIPO) and signed the Paris Convention on Intellectual Property Protection and Patent Cooperation Agreement.
In recent years, enterprises of the two nations have actively surveyed mutual markets to seek business opportunities. Trade fairs in South Africa, especially the International Saitex Trade Fair, have initially attracted the participation of Vietnamese enterprises. As a matter of fact, many business contracts have been reached.
Presently, several Vietnamese enterprises are planning to open branches in South Africa. Viet Trang Import-Export Joint Stock Company (Viettranimex) has opened a branch in Porth Elizabeth and Hanoi General Production and Import-Export Company (Haprosimex) has also set up a branch in Pretoria. These branches have brought in initial successes.
marketing@alchempro.com
