Expecting a new wave of economic cooperation between Vietnam and Angola

Thanh Hà |

At the invitation of President of the Republic of Angola Joao Manuel Goncalves Lourenco and his wife, Politburo member and President Luong Cuong and his wife, along with the high-ranking Vietnamese delegation, paid a state visit to the Republic of Angola from August 6-9.

According to VNA, Vietnamese Ambassador to Angola Duong Chinh Chuc shared that President Luong Cuong's visit is of great significance in many aspects to bilateral relations between the two countries. The visit contributes to maintaining high-level exchanges between the two countries, especially in the context that the two sides are celebrating the 50th anniversary of the establishment of diplomatic relations (1975-2025).

"The visit is an opportunity for the two countries' senior leaders to review and evaluate the results of cooperation in recent times, and at the same time propose specific directions and measures to promote cooperation in the coming time, opening a new development phase for Vietnam - Angola relations" - the Ambassador said.

The Vietnamese Ambassador to Angola said that within the framework of President Luong Cuong's visit, many important documents in areas such as economics, law and communication will be signed. These documents will create a solid legal basis to promote bilateral and multilateral cooperation.

Ambassador Duong Chinh Chuc pointed out that Angola is a country with great development potential with young, abundant human resources and high demand for consumer goods. The Indonesian government is focusing on diversifying the economy, improving domestic production capacity, especially in the fields of agriculture, consumer goods production, and investing heavily in transportation and telecommunications infrastructure. Meanwhile, Vietnam is boosting exports of goods and Vietnamese enterprises are increasingly reaching international markets. "This is the right time for the two countries to promote bilateral cooperation," Ambassador Duong Chinh Chuc said.

For his part, Ambassador of Angola to Vietnam Fernando Miguel commented that President Luong Cuong's State visit to Angola is of great significance, marking a turning point in the history of the traditional friendship between the two countries.

"The visit not only demonstrates Vietnam's attachment to its relationship with Angola, but also creates new political momentum to promote comprehensive bilateral cooperation in all fields," the Ambassador said.

Mr. Fernando Miguel said that within the framework of the President's visit, the two sides will sign many important cooperation documents and organize meetings between senior leaders, ministries and businesses. "I believe that this visit will create a solid foundation to open a new stage of development in the relationship between the two countries, not only in political depth but also in economic and cultural breadth" - Ambassador Fernando Miguel said.

According to the leading Indonesian diplomat in Vietnam, the potential for economic cooperation between Angola and Vietnam is huge and promising, although it has not been fully exploited, in line with the actual capacity and needs of each side.

"The efforts of the two sides to negotiate to sign important agreements such as the Investment Promotion and Protection Agreement, the double tax avoidance Agreement, and cooperation memorandums of understanding on trade, agriculture and industry will open up favorable legal corridors for businesses of the two countries to feel secure in investing and expanding long-term cooperation," he said.

He pointed out that Angola is implementing the National Development Strategy for the 2023-2027 period, focusing on industrialization, sustainable agriculture and digital transformation. These are areas in which Vietnam has practical strengths and experience, and can be shared through the "same-development" cooperation model instead of just a simple trade exchange. "I believe that after this visit, we will witness a new wave of bilateral economic cooperation that is more practical and effective" - Ambassador Fernando Miguel affirmed.

Thanh Hà
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