Illustrative image (Source: VNA) Hanoi (VNA) – Economists in Africa have suggested that Vietnamese firmsneed to actively navigate African markets, including Ethiopia and Egypt, whichare willing to welcome them to do business.
ConsultantAli Ahmed from Egypt’s EHAF Consulting Engineers said upgrading infrastructureis an important part of development strategies in many African countries. Theyalso need huge resources, especially in finance, to invest in infrastructure,energy, agriculture and other fields to speed up economic growth and generatejobs.
Onprospect of Vietnam – Egypt ties, he said favourable political and economicconditions will open up more opportunities for their businesses.
Headvised Vietnamese firms to narrow cultural differences when it comes to accessingAfrican markets, and to join exhibitions, fairs and trade promotion activities inthe region.
Headof the procurement office from Egypt’s CNE company Ihab Mohamed Samy said therecent visit by President Tran Dai Quang to the country opened up newopportunities in trade and industry for the two countries’ economic sectors.
Thetwo countries’ authorities should make it easier for enterprises to meet andupdate information via events held by their chambers of commerce and industry,as well as enhance cultural exchanges to raise mutual understanding, he said.
Accordingto him, many made-in-Vietnam goods have become popular in shopping malls in Egypt,especially apparel, footwear, aquatic products such as tra and basa fish, andmobile phones. However, most of them are sold by global or multinationalcorporations instead of Vietnamese firms.
Heurged Vietnamese authorities to offer all possible support to allow Egyptiangoods to enter Vietnam to balance trade, and suggested the work should focus onagriculture, infrastructure and tourism.
Statisticsfrom the General Statistics Office show Vietnam’s exports to Egypt reached321.11 million USD last year, up 9.6 percent annually, accounting for 14.7percent of Vietnam’s total exports to Africa.
Accordingto the Vietnamese Trade Office in Egypt, the African country invested in threeprojects worth 2.05 million USD in Vietnam as of late 2017. Though Vietnam isyet to invest in Egypt, it has a trade surplus with the country.
Egypt’sdemand for imports is forecast to keep increasing while international financialinstitutions and credit ranking agencies offer a positive outlook for theEgyptian economy in the medium term thanks to economic reforms, creatingopportunities for investors worldwide, including those from Vietnam.-VNA
ConsultantAli Ahmed from Egypt’s EHAF Consulting Engineers said upgrading infrastructureis an important part of development strategies in many African countries. Theyalso need huge resources, especially in finance, to invest in infrastructure,energy, agriculture and other fields to speed up economic growth and generatejobs.
Onprospect of Vietnam – Egypt ties, he said favourable political and economicconditions will open up more opportunities for their businesses.
Headvised Vietnamese firms to narrow cultural differences when it comes to accessingAfrican markets, and to join exhibitions, fairs and trade promotion activities inthe region.
Headof the procurement office from Egypt’s CNE company Ihab Mohamed Samy said therecent visit by President Tran Dai Quang to the country opened up newopportunities in trade and industry for the two countries’ economic sectors.
Thetwo countries’ authorities should make it easier for enterprises to meet andupdate information via events held by their chambers of commerce and industry,as well as enhance cultural exchanges to raise mutual understanding, he said.
Accordingto him, many made-in-Vietnam goods have become popular in shopping malls in Egypt,especially apparel, footwear, aquatic products such as tra and basa fish, andmobile phones. However, most of them are sold by global or multinationalcorporations instead of Vietnamese firms.
Heurged Vietnamese authorities to offer all possible support to allow Egyptiangoods to enter Vietnam to balance trade, and suggested the work should focus onagriculture, infrastructure and tourism.
Statisticsfrom the General Statistics Office show Vietnam’s exports to Egypt reached321.11 million USD last year, up 9.6 percent annually, accounting for 14.7percent of Vietnam’s total exports to Africa.
Accordingto the Vietnamese Trade Office in Egypt, the African country invested in threeprojects worth 2.05 million USD in Vietnam as of late 2017. Though Vietnam isyet to invest in Egypt, it has a trade surplus with the country.
Egypt’sdemand for imports is forecast to keep increasing while international financialinstitutions and credit ranking agencies offer a positive outlook for theEgyptian economy in the medium term thanks to economic reforms, creatingopportunities for investors worldwide, including those from Vietnam.-VNA
VNA
