SA companies invited to participate in investment mission

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By– SAnews.gov.za

Pretoria – The Department of Trade and Industry (the dti) has invited companies to participate in the Outward Selling and Investment Mission to Vietnam and Philippines.

The mission, which will take place from 25-29 May 2015, is open to manufacturers and exporters in the agro-processing, chemicals, mining or minerals and capital equipment sectors.

The Minister of Trade and Industry Rob Davies said the mission forms part of the dti’s objective to create and identify export markets for South African value-added products and services.

“The mission serves also to promote South Africa’s product and service offerings in high growth Asian markets,” said Minister Davies.

According to the Minister, the dti has planned a programme of activities, which will include trade and investment seminars, mini exhibitions, business-to-business meetings and site visits to businesses in those countries.

South Africa and Vietnam share strong historical ties and loyal friendship.

This friendship forms a stable and solid base for the further strengthening of trade and investment ties.

The two way trade between the two countries depicted an upward trend for the past five years.

The total trade between South Africa and Vietnam grew from R3.73 billion in 2010 to R13.45 billion in 2014.

The Philippines is one of the world’s fastest growing emerging markets with a strong Growth Domestic Product (GDP) growth rate of 6.1% in 2014 and investment growth rate of 18%.

The Philippines economy is very well positioned for continued growth and is considered by many as “Asia’s bright spot”. The country was one of the best performing economies in the region, second to China in 2014.

South African exporters in the above mentioned sectors are invited to take opportunities that exist in both countries.

The dti will provide financial support to eligible companies through its Export Marketing and Investment Scheme (EMIA) which will cover costs relating to hotel accommodation, return airfares, excess baggage and business to business meetings which will be arranged for participants.

Companies are invited to send their applications to Ernest Selota at the dti Campus on 77 Meitjies street, Sunnyside, Pretoria or contact him on 012 394 1995 or ESelota@thedti.gov.za before Friday, 27 March 2015.