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China is looking to step up its investments in Africa to meet growing demand for maritime products, while Vietnam has decided to rely more on the continent.
The African continent seems to have become the axis of Asian economic policy. After China’s influence has been great, now Vietnam’s Hai Duong Province has also announced its intention to cooperate.Invest in South Africa. Obviously, cooperation with Africa will provide very interesting prospects for the Asian dragon.
Chinese fishing ports in Africa
For several years, China has been increasing its investment in Africa, particularly in the critical fisheries sector. Through the Belt and Road Initiative, the construction of modern ports like Kilwa Masoko in Tanzania is a manifestation of this commitment. The $111 million project aims to transform the local fishery, bringing thousands of jobs and significant economic development.
China’s presence between influence and controversy
These moves have not been without their critics. In fact, Chinese fleets are often accused of engaging in unregulated fishing activities that endanger fish stocks in West Africa. In addition, projects such as the construction of fishing ports in Sierra Leone have raised major environmental concerns.
Also read: Lobito in Angola: US response to China’s development in Africa
Working towards a more balanced future
Experts such as Dr. Mirón Gutierrez of the Overseas Development Institute have stressed the importance of sustainable management and increased international cooperation to monitor these projects. While Chinese investment offers economic opportunities, its implementation must ensure compliance with environmental and social standards, which is crucial to the future of these partnerships.
Vietnam at the negotiating table
At the same time, Vietnam is also strengthening its ties with Africa and seeking to diversify its economic partnerships. Recently, a South African delegation visited South Africa. Hai Duong Province Explore investment opportunities in multiple sectors including agriculture, industry, services etc. The initiative aims to build a fruitful partnership and stimulate trade between the two regions.
Vietnam’s initiatives to promote mutually beneficial cooperation
The Vietnamese delegation met with ANC and local business representatives to discuss investment and trade opportunities. The two sides made specific commitments on strategic projects such as promoting mutual investment and developing cooperation in the fruit sector, thus highlighting their desire to strengthen economic cooperation.
Africa, China and Vietnam: Charting a path together
Economic relations between Africa, China and Vietnam are heading towards a new phase of cooperation and investment, with Vietnam seeking to expand its economic horizons in Africa as China consolidates its influence through major infrastructure projects.
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