Mashatile courts investors at SA–Vietnam Business Forum on G20 sidelines

Deputy President Paul Mashatile has addressed business leaders and investors at the South Africa–Vietnam Business Forum held at the Capital Empire Hotel in Sandton on Friday. The forum took place on the margins of the G20 Summit and aimed to strengthen trade and investment ties between South Africa and Vietnam.

Mashatile welcomed participants and highlighted the significance of the forum in fostering collaboration. “I am honoured to address this gathering of business leaders and investors at such a pivotal moment for both our countries. The convening of this South Africa–Vietnam Business Forum, on the margins of the G20 Summit, is a timely reminder of the vital role that partnerships and collaboration play in shaping an inclusive global economy,” he said.

Mashatile referred to President Cyril Ramaphosa’s recent State Visit to Vietnam, describing it as a milestone in bilateral relations. During the visit, the two countries reaffirmed their commitment to strengthen cooperation across trade, industry, agriculture, science and technology, renewable energy, and digital transformation. Mashatile said the visit mapped a clear path for expanding economic and developmental cooperation.

Mashatile highlighted the trade relationship between the two countries and the opportunities for growth. “Over the past years, South Africa has been Vietnam’s first trade partner in the continent, and Vietnam is a potential market for South Africa with a sizable population of more than 100 million, as a gateway to the ASEAN market of nearly 700 million people and a GDP of four thousand billion US dollars,” he said. He added that South Africa is a strategic entry point into the African Continental Free Trade Area, connecting over 1.4 billion people in a single market.

He acknowledged the existing trade imbalance between the two nations. “South Africa largely exports raw commodities while Vietnam exports manufactured goods of higher value. This imbalance calls us to move beyond the traditional trade in raw materials and work toward greater value addition, diversification, and industrial collaboration,” he said.

Mashatile emphasised the role of governments in creating an enabling environment for trade and investment. He encouraged Vietnamese companies to explore South Africa’s Special Economic Zones and invited South African businesses to invest in Vietnam’s industrial clusters and technology hubs. He also highlighted the work of the Joint Trade Committee in addressing trade barriers and facilitating market access.

“Through this forum, we aim to identify bankable projects, establish joint ventures, and promote technology and skills exchange that can advance industrialisation and inclusive growth in both our countries,” Mashatile said.

He concluded by stressing the importance of partnership and mutual benefits. “Together, we can create a model of partnership that demonstrates how developing nations, through mutual respect and shared ambition, can achieve prosperity that is both inclusive and sustainable,” Mashatile said.

The forum provided a platform for strengthening South–South cooperation, expanding trade and investment, and promoting long-term economic growth between South Africa and Vietnam.