Vice Chairman of the HCM City People’s Committee Le Thanh Liem meets Iris Gleicke, Parliamentary State Secretary at Germany’s Federal Ministry for Economic Affairs and Energy on May 11. (Photo: VNA)

HCM City (VNA) – Ho Chi Minh City welcomes German investment in the local high-tech and energy sectors, Vice Chairman of the municipal People’s Committee Le Thanh Liem said when receiving Iris Gleicke, Parliamentary State Secretary at Germany’s Federal Ministry for Economic Affairs and Energy on May 11.

He stated Vietnam and Germany share traditional relations, which witnessed increasing visit exchanges between the two respective high-ranking officials in recent years for multifaceted cooperation, particularly in trade.

Liem highlighted 2 billion USD in bilateral trade between the city and Germany last year, adding that most of the revenue was generated by partnerships in the high-tech industry – a priority sector of Vietnam.

He said he expects German enterprises to promote trade and investment with the Vietnamese side and pledged to create favourable business climate for foreign companies, including those from Germany.

Iris Gleicke stressed Germany is always keen on expanding economic cooperation with Vietnam.

German firms highly value HCM City’s dynamic growth, she noted, unveiling that 90 percent of German investment in Vietnam concentrate in the southern hub.

She said experienced in addressing issues arising from the development of infrastructure, transport and energy, German enterprises could support HCM City via joint research and training projects, and technology transfer.

Germany wants to set up a representative office for its businesses in Vietnam soon, the official said.-VNA