Hanoi (VNA) – President Luong Cuong’s state visit to Angola from August 6 to 9 is expected to open up new collaboration opportunities, including those in trade ties that could propel the bilateral relationship to a new height.

Experts noted that Vietnam and Angola have maintained a strong traditional friendship and extensive cooperation since establishing diplomatic relations in 1975. Angola, aiming to diversify its economy and attract foreign direct investment (FDI), is eager to learn from Vietnam’s development experiences. Priority areas for FDI in this African country include industry, tourism, mining, health care, education, agriculture, sports, and housing. The country is calling for foreign investment to drive national development and hopes Vietnamese investors will increase their engagement in its economy.

Currently, Vietnam’s business activities in Angola concentrate on retail, restaurant, construction, timber trade, and healthcare sectors.

♔ From 2018 to 2024, bilateral trade saw fluctuations, peaking at 227.1 million USD in 2023. Notably, Vietnam' imports from Angola surged to 201.6 million that year, marking a 185% increase compared to previous years. In the first half of 2025, Vietnam’s exports to Angola reached 36.1 million USD, the Ministry of Industry and Trade (MoIT) quoted statistics from the Department of Vietnam Customs.

Vietnam has sold textiles – garments, machinery, equipment and spare parts, tobacco, confectionery, rice, cereal products, and chemicals to Angola. In return, Angola has supplied Vietnam with liquefied gas, timber, and other goods.

Analysts noted that the trade structures are complementary rather than competitive, creating a foundation for expanded cooperation moving forward.

Angola's position as a gateway to African markets makes it an advantageous investment destination for Vietnamese enterprises. However, geographical distance remains a significant barrier, resulting in limited investment cooperation and small-scale transactions.

Both governments and people are now working diligently to elevate their cooperative relationship to a new height. With its young, abundant workforce and high consumer demand, Angola is actively improving domestic production capacity, particularly in agriculture and consumer goods, while working to upgrade transport and telecommunications infrastructure.

🍬 Most recently, Xuan Thien Group, a leading Vietnamese enterprise in the areas of hydropower, renewable energy, high-tech agriculture, building materials, and infrastructure, has partnered with Angola's National Oil, Gas and Biofuels Agency (ANPG) on an oil and gas exploration project in the Etosha/Okavango basin, covering the provinces of Cunene, Cuando, and Cubango. This demonstrates the group’s commitment to engaging in the global energy market, especially in Africa.

Earlier, Xuan Thien’s subsidiary, Khang An Trading and Agriculture Co., Ltd, signed a cooperation agreement with the Vietnamese Academy of Forest Sciences to select varieties and develop sustainable eucalyptus cultivation in Angola. This is part of a project to grow one million hectares of eucalyptus to supply fuel for Xuan Thien’s green pig iron plant in the country.

Vietnamese Ambassador to Angola Duong Chinh Chuc noted that while bilateral relations have remained cordial, economic cooperation is still limited, with few major Vietnamese projects in Angola. Both sides, he said, are determined to change this, as reflected in the seventh session of the Vietnam – Angola Intergovernmental Committee in March 2024.

At a working session with the Vietnam Chamber of Commerce and Industry (VCCI), Angolan Ambassador to Vietnam Fernando Miguel stressed that Angola always welcomes and creates the best conditions for Vietnamese firms seeking investment opportunities in its market. He expressed his confidence that the businesses will play an important role in the African country’s economic development. The Angolan Embassy will work closely with the VCCI to arrange trade promotion activities, connect businesses from both sides, and promote delegation exchanges.

Recently, the Angola – Vietnam Business Council was officially established in Angola. Ambassador Fernando Miguel expressed his hope that Vietnam will soon establish a similar council to create an effective and sustainable bilateral cooperation mechanism.

To bolster exports to Angola, the MoIT recommended that enterprises study the country’s business culture, customs, and legal system to avoid misunderstandings and ensure compliance with current regulations.

Enterprises must ensure their products meet high-quality standards, satisfy international requirements, and address market demand. Building appropriate pricing strategies with high competitiveness compared to similar products from other countries remains crucial. They should also focus on product design and packaging that appeal to consumers while building and promoting Vietnamese brands in Angola.

🐟 Participating in trade fairs, setting up representative offices, and forming partnerships with reputable importers and distributors are recommended to strengthen market presence. The ministry also advised businesses to stay updated about Angola-related trade policies./.