Viet Nam can support South Africa in ensuring food security

At the meeting, the Prime Minister assessed that Viet Nam–South Africa relations are developing well. During this visit, the two sides are expected to upgrade their relationship. The Prime Minister called on the business community to help promote bilateral ties in the spirit of "Enabling State – Pioneering entrepreneurs – Public-private partnership – Prosperous nation – Happy people."

The Prime Minister noted that Viet Nam is prioritizing macroeconomic stability, inflation control, and the safeguarding of major balances, thereby ensuring a solid foundation for fast and sustainable growth. Viet Nam's GDP in 2025 is projected to grow by around 8%, with double-digit growth anticipated in subsequent years.

In particular, Viet Nam is promoting public–private partnerships and considers the private sector one of the most important drivers of the national economy. The country is focusing on advancing three strategic breakthroughs, including transforming institutions into a national competitive advantage, breakthroughs in infrastructure, and breakthroughs in governance and human resource training. Viet Nam is also shifting its growth model toward science and technology, innovation, and digital transformation.

South Africa is currently Viet Nam's largest trading partner and export market in Africa, with total bilateral trade turnover reaching USD 1.72 billion in 2024.

Building on good political relations and enormous potential for economic cooperation between the two countries, the Prime Minister invited leaders of the South African Chamber of Commerce and Industry and South African businesses to visit Viet Nam soon to witness the country's development and called on them to invest in Viet Nam. Viet Nam likewise encourages Vietnamese businesses to expand investment in South Africa.

The Vietnamese side stands ready to welcome South African investors to exchange experiences and advance economic, trade, and investment relations in a deeper, more substantive, diversified, effective, and mutually beneficial manner, in the spirit of "giving is the most enduring," as stated by Neil Pollock. Priority areas include sectors where both sides hold potential and strengths, such as agricultural production, mining, and oil and gas, as well as the exchange of Viet Nam's strong products, such as electronics, textiles and garments, footwear, and fruits.

The Prime Minister stated that Viet Nam has 17 FTAs with more than 60 leading economies worldwide. With its agricultural strengths, including the rice variety that has won the title of the world’s best rice three times, Vietnamese enterprises can invest in South Africa and supply products directly to the local market, thereby helping ensure South Africa's food security while tapping into Africa's market of over one billion people.

For his part, Vice President of the South African Chamber of Commerce and Industry Neil Pollock praised Viet Nam's strong development and growth momentum despite regional and global uncertainties. He also highly appreciated the leadership of both countries in turning commitments into concrete actions.

He noted that the two countries share many common cultural and historical values. Viet Nam has strengths in agricultural products, especially rice, which he described as "the best in the world," while rice consumption in South Africa continues to rise. Both countries also hold great potential for tourism cooperation, as one must visit Viet Nam to understand East Asian culture.

He affirmed that South Africa can learn many lessons from Viet Nam, and South African businesses can also learn from Vietnamese enterprises.

He proposed that the two Governments strengthen connectivity, stating that South African enterprises will contribute to promoting economic, trade, and investment ties, remain ready to work with Vietnamese partners, and tap into the substantial opportunities available for shared development. He expressed confidence that this cooperation process will advance rapidly.

Working with Brenda Moagi, Board Member, and Sesakho Magadla, CEO of the Petroleum Oil and Gas Corporation of South Africa Limited (PetroSA), Prime Minister Pham Minh Chinh underlined that cooperation in oil, gas, and energy is vital to ensuring fast and sustainable development for each nation. He proposed PetroSA cooperate with the Viet Nam National Industry-Energy Group (Petrovietnam) in promising areas such as offshore oil and gas exploration and exploitation, petrochemical refining, oil and gas services, energy industry development, etc. The Prime Minister also invited PetroSA leaders to visit Viet Nam for discussions with relevant partners and practical cooperation deals.