PM hopes for stronger Vietnam-Tanzania trade, investment ties

09:01 | 03/08/2017 Cooperation

Prime Minister Nguyen Xuan Phuc voiced his hope for stronger trade and investment ties between Vietnam and Tanzania, while receiving two ministers from the African country, in Hanoi on August 2.

PM Nguyen Xuan Phuc (6th from L) and Tanzanian delegation at the function Source: VNA

Talking to Minister for Industry, Trade and Investment, Charles J. Mwijage and Minister for Agriculture, Livestock and Fisheries, Charles J. Tizeba, he lauded Tanzania’s maintenance of an average economic growth rate of over 6 percent during the past decade and expressed his wish that the country will successfully realise the targets set in its Vision 2025.

He thanked Tanzania for supporting Vietnam’s struggle for national liberation in the past and for facilitating the investment and business activities of Vietnamese firms, including Halotel – a joint venture of Vietnam’s military-run telecommunications group Viettel with Tanzania.

Minister Mwijage said the two countries’ cooperation is developing strongly, as seen in their economic ties and business-to-business partnerships.

He highly valued Vietnam’s expansion in cooperation with African nations, including Tanzania – one of the fastest growing economies in Africa, over the last decade, due to strong economic reforms.

He called on Vietnamese enterprises to invest in apparel, footwear, vegetable, plant oil and cement production in his country’s economic and industrial zones.

Congratulating Tanzania on its economic achievements, PM Phuc promised that the Vietnamese Government will step up providing businesses with information concerning export processing and special economic zones of Tanzania, so that they can consider investment in agricultural and aquatic product processing, electronic products, consumer goods, garment and footwear.

Vietnam is ready to supply goods with high quality and competitive prices in order to meet Tanzania’s demand, he noted.

To fuel the bilateral trade and investment relations, he asked that both sides promptly conclude negotiations for the signing of a double-taxation avoidance agreement and another on investment encouragement and protection.

The PM asked the African nation to facilitate the licensing of Vietnamese workers at Halotel while ensuring security and protecting the assets of Vietnamese firms in the country.

Vietnamese and Tanzanian businesses should also boost connectivity and trade activities to raise the bilateral trade to US$1 billion in the near future, he added.