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Mauritius – Vietnam : Strengthening economic ties

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Mauritius – Vietnam : Strengthening economic ties

Considering new areas of cooperation

During a courtesy visit by Vietnamese Ambassador Pham Hoang Kim to Prime Minister Pravind Jugnauth on Wednesday, April 17, at the Treasury Building in Port-Louis, the commitment to strengthen cooperation between Mauritius and Vietnam was reiterated.

The ambassador underscored the significance of bolstering economic ties and venturing into novel areas of collaboration, particularly in trade, investment, and tourism, following the establishment of diplomatic relations between Mauritius and Vietnam in 1994.

According to IMF projections, Vietnam’s economy is poised to reach USD 469.7 billion USD by 2024, solidifying its position as the fifth-largest economy in Southeast Asia. Vietnam’s tourism sector has experienced remarkable growth over the years, emerging as a sought-after destination for travelers worldwide, including Mauritian nationals. The country boasts a diverse array of attractions, including eight UNESCO World Heritage sites, pristine beaches, bustling cities such as Ha Noi, Ho Chi Minh, and Da Nang offering vibrant nightlife, diverse shopping options, and a rich tapestry of street food.

Despite the challenges posed by the Covid-19 pandemic, Vietnamese tourism is anticipated to contribute over 6.4 % to GDP by 2024, with promising signs of recovery evidenced by approximately 12.6 million international visitors in 2023. Conversely, Mauritius aims to sustain the momentum in its tourism sector, targeting 4.7 % of GDP in 2023. Both countries are devising long-term strategies under the auspices of their respective national tourism administrations to fortify the tourism industry and attract foreign currency inflows.

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