Hanoi (VNA) – The Vietnam National Chemical Group (Vinachem) has strengthened trade and investment ties with South Africa through a business promotion mission aimed at expanding international cooperation and diversifying supply chains.
A key event of the visit was a business networking forum held in Johannesburg on June 24, jointly organised by the Vietnamese Embassy in South Africa and Vinachem. The event attracted more than 20 leading South African companies and investors seeking business partnerships.
Opening the forum, Vietnamese Ambassador to South Africa Hoang Sy Cuong reaffirmed the embassy's commitment to supporting businesses from both countries by facilitating trade and investment cooperation.
Vinachem Chairman Phung Quang Hiep introduced the group as Vietnam's leading chemical producer, generating annual revenue of over 2.5 billion USD and ranking 148th in the 2026 Fortune Southeast Asia 500. Its products are exported to more than 80 countries and territories.
Hiep said Vinachem aims to expand exports of fertilisers, tyres, detergents, batteries and high-purity chemicals to South Africa and the wider African market, while seeking reliable supplies of phosphate ore and coal for domestic production.
CEO of the South African Chamber of Commerce and Industry (SACCI) Alan Mukoki highlighted South Africa's investment opportunities, while Executive Director of the Chemical and Allied Industries' Association (CAIA) Deidre Penfold said the country's chemical industry contributes about 5% of GDP but relies on imported raw materials for around 40% of its needs, creating opportunities for international partnerships.
South Africa wishes to import chemicals and industrial inputs from Vietnam because of their competitive pricing amid ongoing disruptions in global supply chains, Penfold told Vietnam News Agency correspondents in South Africa. She also emphasised the importance of technology exchange and exploring opportunities for joint manufacturing ventures between the two sides, which could help strengthen their economies and create jobs in both countries.
A major outcome of the forum was the signing of a memorandum of understanding between Vinachem and the CAIA to promote cooperation in chemicals, fertilisers, rubber products, batteries, logistics, safety standards, technology exchange and sustainable development.
The Vietnamese delegation also held B2B meetings with South African companies right after the signing ceremony.
Previously, they also had working sessions with major mining partners in Cap Town, including Kropz.
Vinachem is also considering opening a representative office in South Africa to strengthen its presence in the region and improve logistics for future trade./.
