Vietnam attends investment and commerce forum in Africa

Wednesday, 17/05/2023 16:15
The Trade Office and Embassy of Vietnam in Algeria are attending the ninth African Investment and Commerce Forum (AFIC9) in Algiers on May 16-17 to promote Vietnamese goods and seek investment and business opportunities for Vietnamese enterprises.
Vietnamese goods introduced at the event (Photo:

AFIC9, held by the Arab-African Centre for Investment and Development (CAAID), attracted the participation of over 650 economic agents, including investors, leaders of regional and international organizations, experts, researchers, and representatives of trade offices of 37 countries.

At the forum, the Trade Office and Embassy of Vietnam have displayed and introduced a number of Vietnamese goods such as coffee, tea, rice, peppercorn, cashew nut, milk, canned products, and handicrafts. Lists of reputable exporters and catalogues have also been distributed to participants.

The Trade Office has met with Algerian and African businesses to learn about their demand and explore opportunities for business and investment partnerships with Vietnamese firms.

Trade Counsellor of Vietnam in Algeria Hoang Duc Nhuan said Vietnam and African countries have a lot of potentials for trade and investment cooperation, emphasized that bilateral trade and investment have been developing well over the past years.

According to the General Department of Vietnam Customs, the two-way trade between Vietnam and Africa reached 5.4 billion USD in 2022, including 2.8 billion USD in Vietnam’s exports. The main African trade partners of the Southeast Asian nation include Egypt, South Africa, Côte d’Ivoire, Ghana, and Algeria.

In 2022, Vietnam attracted about 2.7 billion USD in investment from Africa with such major investors as Seychelles, Mauritius, and Angola. Meanwhile, Vietnam had invested 2.4 billion USD in 17 African countries as of February 2022, with the biggest recipients being Algeria, Mozambique, Tanzania, and Burundi./.