German Companies Can Still Invest Heavily in Vietnam

Ample Room Remains for German Firms to Invest in Vietnam
President of the Viet Nam Union of Friendship Associations (VUFO) Phan Anh Son (third from right) and representatives of the German delegation at the meeting. Photo: VUFO

At a reception for a delegation of German businesses in Hanoi on September 29, Son pledged that the VUFO would support German firms to operate effectively in Vietnam.

The German side commended Vietnam’s dynamism and potential, saying the visit aims to explore the market and accelerate German investment there.

Earlier, the delegation had a working session with representatives from the Ministry of Industry and Trade, where Deputy Minister Nguyen Sinh Nhat Tan noted that Vietnam prioritizes the development of renewable, new, clean energy.

He emphasized investment opportunities for foreign investors, including those from Germany, in these fields.

Earlier, German news website NTV published an article highlighting the attractiveness of the Southeast Asian country to German businesses.

According to the article, Vietnam has long been famous for shoes, garments textiles, coffee, and pepper. The country is always ready to innovate and absorb new technologies, so it has a good reputation as an electronics manufacturing hub.

Meanwhile, “Made in Germany” goods and machinery are also very popular in Vietnam, along with automobiles and chemical products. Germany currently has about 350 companies with offices and facilities in the Southeast Asia country, it said.

Two-way trade turnover reached EUR18 billion (USD19.2 billion) last year, of which shipments from Vietnam accounted for EUR14.7 billion. Germany is currently Vietnam’s most important trade partner in the European Union (EU) while Vietnam is Germany’s largest partner in the Association of Southeast Asian Nations (ASEAN).

Ludwig Graf Westarp, the representative of the German Association for Small- and Medium-sized Businesses (BVMW) in Vietnam, said Vietnam is a country with many development opportunities and a very vibrant market. Over the recent years, the country has poured much capital into infrastructure, roads, ports, and airports. Vietnam is also expanding its renewable energy industry which requires not only experience but also technology from Germany.

Rosy Huong

The post German Companies Can Still Invest Heavily in Vietnam appeared first on Vietexplorer.com.

Comments

Post a Comment

Popular posts from this blog

Vietnam discovers 2,000-year-old stringed instrument

Image
Discovered along the Mekong River in southern Vietnam, the 2,000-year-old instrument resembles a single-stringed harp and may have been an ancestor to the complex musical instruments people still plucked today in Vietnam, according to UK-based science website IFLScience . The artifact consists of a 35-centimeter piece of deer antler with a hole at one end for a peg, which was likely used to tune the string. The antler most likely came from a Sambar deer or an Indian hog deer, two species native to mainland Southeast Asia. While the string seems to have eroded away long ago, the instrument features a bridge that was perhaps used to support the string. Lead researcher and Ph.D. student Fredeliza Campos from the Australian National University said the artifact is at least 2,000 years old — dating back to Vietnam’s pre-Oc Eo culture along the Mekong River, which is exceptionally early for this kind of instrument. How the artifact could have been played. Image credit: F Z Campo...
Read more

Vietnam News Today (Dec. 4): Vietnam National Assembly Leader Begins New Zealand Visit

Image
Vietnam News Today (Dec. 4) notable headlines Vietnam logs 393 new Covid-19 cases on December 3 Vietnam National Assembly leader begins New Zealand visit Vietnamese university, Australian company sign MoU on training, startup Number of international visitors to Vietnam sets ‘record’ after pandemic Dengue outbreak in HCM City on downward trend Techfest Vietnam 2022 kicks off in Binh Duong Dialogue helps connect Ho Chi Minh City to the world Promoting Vietnam – New Zealand strategic partnership VietJet Air resumes direct flights from Da Lat to Bangkok Illustrative image. Photo: VNA Vietnam logs 393 new Covid-19 cases on December 3 Vietnam’s Covid-19 caseload rose to 11,517,517 after 393 new cases recorded on December 3, according to the Ministry of Health. With 107 patients given the all-clear on the day, the number of recoveries climbed to 10,608,829. Meanwhile, there are still 54 patients needing breathing support, cited VNA. One death from Covid-19 w...
Read more

Vietnam Welcomed Over 800,000 International Visitors in January

Image
According to statistics, tourism revenue in January 2023 is estimated at VND 2.2 trillion, an increase of 113.4% over the same period last year. Some localities witnessed a strong rise such as Hai Phong (541.5%), Da Nang (387.1%), Tien Giang (380.2%), Lao Cai (196.3%), Hanoi (113.8%), Ho Chi Minh City (98.7%)… In January 2023, monthly passenger transport is estimated at 341.7 million passengers, experiencing an increase of 11.9% over the previous month and 34.7% over the same period last year. The domestic and international tourism market promises to be vibrant in 2023. (Photo: The Saigon Times) Monthly freight forwarding is estimated at 202.8 million tons of goods, which increased 5.4% over the previous month and 16.2% over the same period last year. In 2023, Vietnam’s tourism industry sets a goal of welcoming 110 million tourists, of which about 8 million are international visitors, and about 102 million are domestic tourists. Total revenue from tourists is expected ...
Read more