Prime Minister Phạm Minh Chính has called on the business communities of Việt Nam and South Africa to strengthen investment, cooperation, and mutual support to achieve shared successes, sustainable development, and enhanced prosperity. He made this appeal during the Việt Nam–South Africa Business Forum in Johannesburg on Friday, which was attended by Deputy President Paul Mashatile. The forum coincided with PM Chính’s trip for the G20 Summit and associated bilateral activities in South Africa.
The Prime Minister highlighted the solid political relationship between the two nations, built through their historic struggles for national liberation and the pursuit of freedom, noting that this strong foundation should now be leveraged to generate tangible economic, trade, and investment results. He also revealed that he plans to meet with South African President Cyril Ramaphosa to formalize the upgrade of bilateral relations to a strategic partnership.
PM Chính encouraged Vietnamese businesses to invest in areas such as agricultural production, including rice and other crops that South Africa imports, as well as renewable energy and logistics. He also emphasized increasing exports of South African products to Việt Nam and supporting a bilateral free trade agreement. Conversely, he recommended that South Africa prioritize investments in Việt Nam’s innovation sector, green economy, creative industries, and processed goods.
The Prime Minister stressed the need to optimize each country’s unique resources, competitive advantages, and human capital through closer cooperation mechanisms, with the goal of transforming raw materials into higher-value products for mutual benefit. He also called for the upgrading of the Inter-governmental Committee, coordinated by both foreign ministries, and urged businesses to form working groups to strengthen partnerships.
Deputy President Mashatile described the forum as a timely reminder of the importance of partnerships in fostering an inclusive global economy. He emphasized that South Africa is Việt Nam’s leading trade partner in Africa, while Việt Nam offers access to a population of over 100 million and the ASEAN market of nearly 700 million people with a combined GDP of $4 trillion. South Africa, in turn, remains a strategic entry point into the African Continental Free Trade Area (AfCFTA), connecting over 1.4 billion people in a single market.
The two governments are committed to creating a supportive environment for trade and investment. South Africa encourages Vietnamese companies to explore its special economic zones, which provide world-class infrastructure and incentives, while Việt Nam offers dynamic industrial clusters and technology hubs for South African businesses. The forum also showcased investment opportunities in mining, oil and gas, power, agriculture, processing, and manufacturing.
Bilateral trade has grown steadily, reaching $1.72 billion in 2024. Việt Nam’s exports to South Africa include electronics, mobile devices, textiles, footwear, and agricultural products, while South Africa exports fruits, timber, minerals, and chemicals. By July 2025, South Africa had 20 valid investment projects worth $0.88 million in Việt Nam, while Việt Nam had invested $8.86 million in four projects in South Africa, ranking 45th among Vietnamese overseas investment destinations.
During the forum, PM Chính and Deputy President Mashatile witnessed the signing of business agreements between the two nations’ enterprises in areas such as strategic 3D radar technology transfer, production projects in Việt Nam, R&D collaboration, tourism, air transport, and trade. Both leaders reaffirmed their commitment to deepening bilateral economic ties and leveraging strategic cooperation to achieve inclusive and sustainable growth for both nations.
