VCCI promotes cooperation between Vietnamese and Equatorial Guinea businesses

During a meeting between Mr Bui Trung Nghia, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), and Mr Mauricio Mauro Epkua Obama, Ambassador of the Republic of Equatorial Guinea to China and non-resident Ambassador to Vietnam, the two sides discussed opportunities to enhance trade and investment cooperation. They also agreed to strengthen ties between their trade promotion organizations and business communities.

Speaking at the meeting, VCCI Vice President Bui Trung Nghia noted that Vietnam and Equatorial Guinea have enjoyed a long-standing friendship built over several decades. The two countries have consistently supported one another in multilateral forums and cooperated during the COVID-19 pandemic.

"Economic cooperation between our two countries remains far below its potential. This presents a valuable opportunity for both sides to step up the exchange of information on market opportunities, investment environments, and business partnerships," he said.

Mr. Nghia highlighted Vietnam's strengths in a wide range of sectors, including manufacturing and processing, telecommunications, information technology, agriculture, and food processing. He also noted Vietnam's experience in offshore oil exploration and its strong capacity to produce and export rice, garments, footwear, machinery, equipment, and consumer goods—all of which align well with Equatorial Guinea's development priorities.

On behalf of Equatorial Guinea, Ambassador Mauricio Mauro Epkua Obama expressed his admiration for Vietnam's remarkable economic achievements and praised the solid foundation of friendship between the two countries.

"Equatorial Guinea is eager to elevate bilateral relations to a new level by placing greater emphasis on trade and investment cooperation. We are also keen to learn from Vietnam's experience in economic reform and development," he said, adding that his country welcomes greater investment from Vietnamese businesses.

Equatorial Guinea is a member of the Central African Economic and Monetary Community (CEMAC) and a signatory to the African Continental Free Trade Area (AfCFTA), positioning it as an attractive gateway for businesses seeking opportunities in Central Africa.

Ambassador Mauricio Mauro Epkua Obama reaffirmed that Equatorial Guinea welcomes Vietnamese companies to explore investment and business opportunities in the country. "We are particularly interested in industrial development and hope to strengthen cooperation with the Vietnamese business community, including in the development of industrial parks," he said.

He added that the technology and production capabilities and competitive pricing of many Vietnamese products are well suited to the needs of the Equatorial Guinea market. "This provides a solid foundation for both sides to strengthen business networking, exchange business delegations, and develop concrete cooperation projects."

To translate this potential into tangible business outcomes, VCCI Vice President Bui Trung Nghia proposed establishing a regular information-sharing mechanism involving VCCI, the Embassy of Equatorial Guinea, and relevant organisations.

The two sides agreed to enhance cooperation among VCCI, diplomatic missions, and business support organizations in Equatorial Guinea. Through this framework, they will exchange market information, promote investment opportunities, facilitate business matchmaking, and organize trade and investment missions to explore future cooperation.