Previously, only Vietnam National Oil and Gas Group (PetroVietnam-PVN) invested in Algeria in a sector of exploration and exploitation of oil and gas, currently, more and more Vietnamese enterprises are interested in African markets with diversified investment sectors.

Presently, oil and gas sector accounts for the highest proportion in investment capital with oil and gas exploration and exploitation projects in Algeria ($224.9 million), Madagascar ($117.3 million) and in the Republic of Congo ($15.3 million). These three projects account for up to 50 percent of Vietnam’s total investment capital in Africa and are invested by one-member limited liability company under PetroVietnam Exploration Production Corp (PVEP).

Following was a mobile phone network investment cooperation project of Vietnamese Military-run telecommunication firm, Viettel, in the Republic of Mozambique, with a total capital of $493.79 million, of which, Viettel contributes $345.6 million. This is Viettel’s first investment project in Africa.

Angola has attracted six investment projects from Vietnamese investors in the sectors of manufacturing roofing sheets, motorcycles, garment and textile, electronics, refrigeration, bottled beverages, with a total value of $4.53 million. Vietnamese firms investing in Angola are T&T Ltd Co, Thanh Do Trading Ltd Co and International Friendship Ltd Co.

In South Africa, Vietnam had two investment projects, of which, one project was invested by Thien Minh Duc JSC in the sector of growing green trees, and developing eco-tourism with a total capital of $715,000 and another project of Viet Trang Export Import JSC in the field of exploiting and preliminary processing of wooden products for exports and supermarket business with a total investment of $950,000.

In Ghana, Vietnam had a stone mining project, production and trading of granite as building material invested by Binh Hung Thinh Investment JSC.

In Tanzania, An Viet Cuong Mechanics Limited Liability Co and Thien Phu Trading Ltd Co had a joint project to provide gold mining services, lease of machineries, equipments and technologies with a total investment of $300,000.

In Cameroon, Vietnam had a joint venture project to exploit and process wood, gold and minerals with a total investment of $905,714, of which, Vietnamese partner made up $443,800.

In Mauritius, Vedic Fanxipang Pharmaceutical Ltd Co invested in a project to purchase and sell products from Artemisia Annua tree with a total investment of $20,000.

The Saigon Times Daily - September 11, 2012

Vietnam’s exports to Africa decrease 35pct in first 7 months

Ministry of Industry and Trade (MoIT)’s report said that in the first seven months of this year, Vietnam’s export import turnover with countries in Africa, West Asia and South Asia reached nearly $8.2 billion.

Of which,Vietnam’s export turnover to these countries reaped about $5.2 billion, up nearly 20percent on year and import value from these nations was about $3 billion, down 7percent on year.

The statistics from General Department of Vietnam Customs showed that Vietnam’s export turnover surged sharply in the Middle East and South Asia markets with on year growth of 85percent ($2.5 billion) and 15percent (reaching $1.3 billion) respectively.

However, African markets saw a decline of 35percent in export turnover when reaching only $1.3 billion mainly in items such as gold and precious metals.

Notably, afterVietnam’s rice export to some African countries dropped strongly in the last months of 2011 and early 2012 due to facing with cheaply priced rice competition withIndia, since the second quarter of 2012, African rice importers returned to buy rice fromVietnambecauseIndiadid not ensure the progress of the implementation of contracts.

In May, June and July 2012,Vietnam’s rice exports to markets such asIvory Coast,Ghana,AlgeriaandAngolaincreased strongly, helping increase the consumption of medium grade rice ofVietnam.

According to estimates of MoIT, in August 2012,Vietnam’s total export turnover to regional markets reached about $1 billion.

Ministry of Industry and Trade - September 11, 2012