Nigeria has signed Memorandum of Understanding (MoU) with Vietnam in the areas of defence collaboration, agriculture, telecommunications, amongst others, for the mutual benefit of both countries. The signing of the MoU took place on Monday during Vice President, Yemi Osinbajo’s bilateral meeting with his Vietnamese counterpart, Madam Vo Thi Xuan at the Presidential Palace in Hanoi, Vietnam.
He said, “There are vast opportunities that exist for cooperation and collaboration, especially in the area of digital economy and telecoms, and we look forward to the signing of some of the agreements that we have spoken about - the trade and investment agreements, trade projection agreements, double taxation agreements.
“We look forward to accelerating the process, ensuring that those agreements are signed because they are vital to the collaborations that we will see between our countries in the coming years.
“We think that there are opportunities for collaboration between Nigeria and Vietnam, especially in the Digital Economy space.
“We also have a growing telecoms market, possibly one of the deepest penetrations of telecoms in the developing world. We have close to 120 million of our citizens who have put to use telecoms equipment or devices and also, broadband connectivity is vastly improved. We hope that by 2025, we will have broadband connectivity for all of our over 200 million people”.
Osinbajo also said that Nigeria is the largest economy in Africa and is at the center of the African Continental Free Trade Area (AfCFTA) agreement, thereby making the country a major hub for international trade.
