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Vietnam, Tanzania look to step up bilateral investment cooperation

13/08/2021    5

Vietnam is willing to share its socio-economic development experience and lessons with Tanzania, especially in attracting foreign investment and developing garment, footwear, and seafood sectors, Vietnam Ambassador to Tanzania Nguyen Nam Tien has said.

During a meeting with Tanzanian Minister of Investment Geoffrey Mwambe on August 10, the Vietnamese diplomat suggested the two sides complete legal frameworks for bilateral investment activities, and proposed specific cooperation orientations and plans between the two nations in the fields of agriculture, education and infrastructure development.

Amid complicated developments of the COVID-19 pandemic, partners of the two sides should enhance online meetings to maintain information exchange and strengthen connectivity, Tien said.

Taking a typical example of Vietnam's investment in Tanzania, the ambassador emphasised the role of Viettel Tanzania Company (Halotel) in creating jobs, raising incomes and improving the lives of Tanzanians. He expressed his hope that the Tanzanian government would continue to create favourable conditions for Halotel to operate effectively in the African country.

The ambassador also expressed his delight at the development of friendly and cooperative relations between the two States, ruling parties and people of Vietnam and Tanzania.

He affirmed that Vietnam and Tanzania have always been brothers and partners which have often supported and helped each other in the past struggles for national independence as well as in the cause of national construction at present.

For his part, Mwambe agreed that the two sides will continue to coordinate together to improve the legal framework for investment. He also welcomed and supported cooperation proposals of Vietnam.

Halotel is a strategic investment project of Vietnam in Tanzania, he said, adding that he highly valued Halotel’s telecommunications services to help socio-economic development in remote areas of Tanzania.

Tanzania wants to learn from Vietnam's experience in developing garment, footwear, rice cultivation, fishing, aquaculture and seafood processing industries, he said.

Tanzania is a large consumption market which is benefiting trade and investment incentives with the US, the European Union and the UK, Mwambe said, affirming that his country can serve as a gateway to help Vietnamese businesses access to markets in the East African Community (EAC) and the Southern African Development Community (SADC), and member markets of the African Continental Free Trade Area (AfCFTA).

Source: Nhan Dan Online