A workshop themed “Vietnam-Africa-Middle East: New partners for
development” was held in Hanoi on September 7 to promote trade and investment
between Vietnam and the regions.
In his opening speech, Vu Tien
Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) said that
Vietnam has diplomatic ties with almost every country in Africa and the Middle
East . He added that Middle Eastern nations tend to have closer economic ties
with Vietnam and accept more Vietnamese workers.
Loc also highlighted the
increasing amount of investment and trade between Vietnam and these regions
before representatives of 200 Vietnamese businesses and 20 African and Middle
East companies.
Two-way trade between Vietnam and
African nations increased to $4.77 billion in 2011 from $2.07 billion in 2009.
However, the figure was estimated to have reached only $1.81 billion in the
first eight months of this year.
Vietnamese exports to Africa are
mainly rice, textiles products, footwear, electronic and mechanical products,
plastic products and chemicals.
As of August this year, Vietnam
had 17 projects currently operating in Africa , with a total investment of $1.2
billion.
Recent bilateral trade between
Vietnam and Middle East countries has also seen a rise, recording $5.17 billion
in 2011 and $3.95 billion from January to August this year.
Turkey , Saudi Arabia , Iraq and
Israel are now Vietnam ’s major importers in the region.
Vietnam’s four investment
projects to the Middle East have totalled over $84 million as by August this
year.
At the workshop, the participants
also pointed out the difficulties to be encountered by businesses, including a
lack of accurate detailed information and complicated administrative procedures.
While proposing measures to
develop economic and investment relations, Le Dang Dung from the Viettel Group
said it was essential to make the Vietnam-Africa-Middle East Business Forum a
venue for the three business communities to access more information on market
and investment opportunities.
Later, the Vietnam-Africa-Middle
East Business Forum was officially launched, to act as a bridge to promote
trade and economic cooperation between all three business communities.
VIR/VNA
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