Hanoi Promotes Investment, Trade, and Tourism with South Africa

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According to Hanoi City statistics, in terms of trade, Hanoi's export turnover to South Africa in 2023 reached US$23.4 million (accounting for 0.14% of Hanoi's total export turnover in 2023). In the first 9 months of 2024, it reached US$18.8 million (accounting for 0.13% of Hanoi's total export turnover).

Nguyen Thi Tuyen, member of the Party Central Committee and permanent deputy secretary of the Hanoi Party Committee.

Meanwhile, Hanoi's import turnover from South Africa was quite large, reaching US$116.9 million in 2023 (accounting for 0.3% of Hanoi's total import turnover in 2023). In the first 9 months of 2024, it reached US$487.4 million (accounting for 1.6% of Hanoi's total import turnover).

Regarding tourism, since Vietnam reopened its borders to international tourism in March 2022 after the Covid-19 pandemic, the number of visitors from South Africa to Hanoi has increased month by month. In 2023, the number of South African tourists reached 7,047, a 2.3-fold increase compared to 2022. Data for the first 10 months of 2024 shows that the number of South African tourists to Hanoi reached 8,360, an increase of 67.3% over the same period in 2023.

Promoting potential cooperation opportunities

On October 29th, Hanoi City and the Vietnamese Embassy in South Africa jointly hosted the "Vietnam-South Africa Investment, Trade, and Tourism Promotion Conference: Destination Hanoi-Opportunities and Potential for Cooperation." This important event was organized to strengthen investment promotion, trade, and tourism cooperation between Hanoi and African partners, particularly South Africa, and to showcase Hanoi's attractive investment environment.

Nguyen Thi Tuyen, member of the Party Central Committee and permanent deputy secretary of the Hanoi Party Committee, highlighted that the conference aims to showcase Hanoi's attractive investment environment and foster stronger economic ties with South Africa.

Tuyen highlighted the significant untapped potential for investment, trade, and tourism cooperation between Hanoi and South Africa. She further emphasized Hanoi's commitment to providing a conducive business environment for South African investors.

Hanoi - attractive destination for South African businesses and investors

At the conference, South African businesses and investors learned about the investment environment, business conditions, incentives, and preferential investment policies when producing and doing business in Hanoi. Many guest delegates from South Africa expressed their interest in cooperation opportunities with Hanoi in particular and Vietnam in general. The event also introduced trade products, key craft villages, unique cultural and tourism destinations, and the attractive cuisine of Hanoi, attracting the interest of South African partners.

Vice Chairman of Hanoi People's Committee Duong Duc Tuan said that the event had created an open space. The conference showed that there is great potential for cooperation in investment, trade, and tourism between Hanoi and South Africa.

Duong Duc Tuan said "One of the highlights is the opportunity for cooperation in tourism. Promoting tourism cooperation at this time will also help to elevate many areas to new heights, including the development of aviation and cultural exchange."

At the event.

Mtho Xulu, president of the South African Chamber of Commerce and Industry, also expressed his desire to promote several potential cooperation areas with Hanoi in particular and Vietnam in general, especially opportunities from sectors that will drive economic development, such as minerals, agricultural processing, ICT development, as well as services and emerging service industries.

Xulu suggested that specific existing opportunities in tourism should be considered, as South Africa, Hanoi, and Vietnam have much cultural diversity. The South African side also believes that the two sides need to exchange on how to develop and commercialize cultural assets between the two countries to turn them into a separate industry, as they are rich, diverse, valuable, and meaningful. Xulu also suggested that both sides should exchange on ways and means to innovate and use intellectual property.

After this conference, the cooperation relationship between Hanoi in particular, Vietnam in general, and South African partners in investment, trade, and tourism will be strengthened and developed strongly in the coming time.

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