Vietnam, Nigeria firms seek opportunities at Hanoi forum
The Vietnam Chamber of Commerce and Industry (VCCI) hosted the Vietnam – Nigeria Trade and Investment Forum in Hanoi on December 4, giving the two countries’ businesses a chance to seek opportunities.
Hanoi (VNA) – The Vietnam Chamber of Commerceand Industry (VCCI) hosted the Vietnam – Nigeria Trade and Investment Forum inHanoi on December 4, giving the two countries’ businesses a chance to seekbusiness opportunities.
Speaking at the event, VCCI Vice Chairman Doan Duy Khuongsaid Vietnam’s total foreign trade has hit 359 billion USD and the country ishome to more than 22,000 projects worth upwards 290 billion USD invested by over100 countries and territories.
Vietnam can be an important gateway for Nigerian firms toaccess large markets, especially the ASEAN, he said, vowing to serve as abridge for the two nations’ enterprises to do long-term business.
According to the VCCI, two-way trade between Vietnam andNigeria has topped 250 million USD annually over the past five years. Vietnamenjoys big trade surplus with Nigeria, but it buys cashew nuts, cotton, fruitsand vegetables from the African country. The two nations hold potential ofpartnership in agriculture, farm produce processing, apparel, mining andconstruction materials.
Oye Akinsemoyin, Chairman of the Nigeria-Vietnam Chamber ofCommerce and Industry, suggested that the two countries should tap each other’sstrength to develop the processing industry, including farm produce, whilehelping each other to boost exports of unprocessed products.
Nigerian Ambassador to Vietnam Fransis Efeduma said theAfrican country wants to tap Vietnam’s technology to churn out locally-madeproducts.-VNA
Vietnam seeks to develop its relationship with Nigeria in economics, trade, industry and investment, a Vietnamese trade official said, considering the country as a large, potential market in Africa and an economic gateway to neighbouring countries in western and central Africa.
A Vietnam-Nigeria cashew trade conference was held in Ho Chi Minh City on February 3 as part of efforts to boost partnership between the two countries in the field.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
At the event (Source: VNA) 
