Vietnam seeks business and investment opportunities in Africa through AFIC7

The event, both by video conference (VTC) and in person, was organized under the high patronage of Algerian President Abdelmadjid Tebboune. The Vietnamese delegation to the forum was led by Ambassador Nguyen Thanh Vinh.

The forum included an exhibition, seminars and business-to-business meetings in the areas of food industry, agriculture, technology, tourism, services, renewable energy and others.

The Vietnamese Embassy and Trade Office in Algeria set up a stand, among a total of 70, at the event which showcased a number of Vietnam’s flagship agricultural products, such as coffee, tea, rice. , pepper, milk, “banh trang” (rice paper wrappers) and cassava powder, and materials promoting Vietnam’s culture and tourism.

About 20 national companies also participated in the event practically from Vietnam.

Speaking at the forum, Vietnamese Business Advisor Hoang Duc Nhuan briefed the audience on Vietnam’s economic development; trade, investment and agricultural relations between Vietnam and African countries; and the potential cooperation of the two sides in the coming time.

He also announced that Vietnam is planning to host an international conference on the Vietnam-Africa partnership in agriculture later this year via VTC and in-person meetings.

AFIC 7 has brought together many international and global organizations, embassies, trade offices and over 600 companies from 35 countries around the world seeking export and investment opportunities in Africa.

Trade between Vietnam and Africa amounted to US $ 7.4 billion in 2019, with shipments from Vietnam amounting to US $ 3.4 billion, an increase of 17 percent over the ‘last year.

Main export products from Vietnam to Africa include mobile phones and their parts, computers and parts, textiles and clothing, shoes, rice, coffee, pepper, cashew nuts and fishery products. Imports, on the other hand, include raw cashews, cotton, timber, copper, animal feed and liquefied natural gas.

Vietnam has invested nearly US $ 3 billion in 12 African countries in oil and gas exploration and production, telecommunications, hydropower, and cement and timber manufacturing, among other.

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