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.

Nhận xét

Đăng nhận xét

Bài đăng phổ biến từ blog này

IMF Expert: Vietnam Retains Allure for Foreign Investors

Hình ảnh
Vietnam is an attractive investment destination for foreign investors due to its high and stable economic growth, large domestic market and young, well-educated human resources, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam at the recent Annual Meetings of the IMF and the World Bank Group (WB) held in the US. According to Medas, despite rising geopolitical instability globally, Vietnam’s economy experienced a growth rate of 5.66% in the first quarter of this year. Exports continue to see an upward trend, facilitating overall growth until the end of this year. He projected that Vietnam’s economic growth is predicted to expand by nearly 6% this year due to the recovery of domestic demand and supportive fiscal policies from the government. However, he noted that Vietnam needs to maintain a flexible fiscal policy to manage risks and ensure sustained growth. A production line at the Republic of Korea’s Bluecom Vina Co., Ltd, in the Trang Due Ind
Đọc thêm

Vietnam’s Weather Alert: Torrential Downpours Sweep Southern Provinces and Central Highlands

Hình ảnh
On the evening of May 19, the National Center for Hydrometeorological Forecasting reported moderate to heavy rainfall in the Northeast region, with an average of 30-60mm. Meanwhile, the Northwest region, along with Thanh Hoa and Nghe An, experienced more intense weather with moderate to heavy rain and thunderstorms. The rainfall in these areas ranged from 40-80mm, with some locations surpassing 150mm. The Central region, Central Highlands, and the South are also bracing for prolonged thunderstorms, mostly occurring in the afternoon and evening. Regional Weather Forecast Northwest Region : The evening and night skies are expected to be overcast, with moderate to heavy rain in certain areas. Thunderstorms may bring tornadoes, lightning, hail, and strong winds. Temperature lows will be between 23-26°C, while highs will reach 31-34°C. Northeast Region : Cloudy and rainy conditions are predicted throughout the day, with scattered thunderstorms in the evening. Southeast winds will be
Đọc thêm

ASEAN Graphic Arts Competition and Exhibition 2024: Fostering Bonds of Friendship

The event is expected to contribute to expanding relations and promoting cultural exchange and international cooperation in the field of fine arts, and tightening the friendship among ASEAN member countries, the ministry said. It also offers a chance for Vietnamese artists and those from other ASEAN countries to share experience and new techniques in creating artwork, and introduce their works on the people and land of each country. The artworks are required to be created between 2020 and 2024, encompassing woodcut, metal engraving, gypsum engraving, rubber engraving, on-stone print, and unique print, and other forms of graphic art. The themes of the entries should focus on various aspects of life, humans, natural landscapes, country, peace, solidarity, cooperation, friendship, and contemporary issues. The organization board will select approximately 200 graphic artworks for the exhibition. Among them, 21 pieces will receive awards. The award ceremony is scheduled to take place i
Đọc thêm