Vietnam will do its utmost to further promote political and economic relations with Angola and create the best conditions for businesses from the two countries to cooperate with each other.
Vice State President Nguyen Thi Doan made the commitment at the Vietnam-Angola Business Forum held in Hanoi on February 16, with the aim of further fostering trade and investment cooperation between the two countries.
Ms Doan emphasized that both Vietnam and Angola are open markets with great potential, providing good opportunities for businesses from both countries to develop their markets in the coming years.
Angolan vice President Fernando Dias dos Santos said his country considers agriculture a key sector, producing cereals and livestock for the processing industry. Its economy is gradually rebounding, so the country is creating an attractive environment for public and private investments, as well as devising measures and legal tools for strong economic growth.
dos Santos expressed his hope that Angolan businesses will build a strong foundation for national economic development, and that bilateral economic cooperation will progress in the near future.
Vu Tien Loc, Chair of the Vietnam Chamber of Commerce and Industry, said economic, trade and investment cooperation between Vietnam and Angola has seen significant progress, with 2011 two-way trade turnover reaching around $100 million. Most of the figure came from Vietnam’s exports, including rice, garments, footwear, machinery equipment and seafood.
The forum witnessed an agreement signed between the Vietnam Construction and Industry Equipment Joint Stock Company and Angola Tamar LDA Corporation to build houses for staff of the Angolan Ministry of Defence worth $3 billion over five years.