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Ministry urges S Africa to invest in diamond sector

25
May '07
Vietnam-South Africa Business Forum was held yesterday in Ha Noi, which was attended by several elite delegates, including Vice Minister of Trade Luong Van Tu and Chief Director Sadiq Jaffer.

Administrators said that trade relations among both countries were friendly and strong.

However, the business was still weak, especially, because of lack of awareness among enterprises about the huge opportunities in the nations.

Experts said that potential dealer in South Africa and Vietnam should be informed regarding the situations in the country and advised to boost trade.

Meanwhile, Van Tu urged more South African companies to invest in diamond and wood industries.

Ministry also revealed its plans to set up trade centres in South Africa where Vietnamese products would be exhibited. These units will also offer enterprises opportunity for direct interaction with the consumer.

Analysts predict that export to South Africa were likely to earn about US $150 million in 2007 while the figure may grow to $1.5 billion in next three years.


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