Mytel is one of the most prominent success stories of Vietnamese overseas investment, Photo: Le Toan These days, Le Huy Hoang, Vietnamese Ambassador to Mozambique, is busy working with authorised agencies in the Southeast African nation about how Vietnamese businesses and investors can carry out their projects and do business there. “Mozambique is a promising land for investment, and we are connecting Vietnamese investors with this attractive market,” he told VIR. “Vietnam has been closely cementing co-operation with Mozambique across a multitude of sectors, including telecommunications. Movitel, a joint venture between Vietnam’s Viettel Group and a Mozambique partner, has invested over $600 million in Mozambique and has already reaped profit.” In addition to Viettel, some other companies from Vietnam have also been paying attention to Mozambique, including a titanium mining enterprise in the central province of Binh Thuan and several agricultural companies that arrived to Mozambique to cultivate and harvest cashew. Mozambique is one of 38 countries and territories home to Vietnamese overseas investment. Of these, in 2018, Laos ranked first with $81.5 million of total investment, making up 18.8 per cent, followed by Cambodia and Myanmar. According to the Foreign Investment Agency under the Ministry of Planning and Investment,… Read full this story
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