Monday, August 21, 2017 - 0:08:48

Major German state hails VN investment climate

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Both political and business circles from the Baden-Wurttemberg State of Germany hailed Vietnam as an international investment attraction at a workshop in its Pforzheim city on May 10.

Addressing the workshop on Vietnam economy, the Pforzheim mayor congratulated Vietnam for its success in economic reforms in the recent past, saying the country has great potential for development.

Vietnam is an international investment attraction and a partner of German investors’ interest, emphasised the German official.

The Executive Manager of the Economic and Scientific Cooperation organisation of the Baden-Wurttemberg state, Dr. Michael Hagenmeyer, recognised Vietnam ’s legal upgrade in service of economic reforms.

Vietnam is ready for its economic reforms scheme through upgrading the legal framework for foreign investment and business operations, especially since the country joined the World Trade Organisation, said the senior economist.

He also lauded Vietnam ’s economic and investment law as the most opening in the region and its human resources with a majority in the working age and characterised with industriousness and enterprising will as a great advantage.

April last year, a delegation of medium and small-sized enterprises from the Baden-Wurttemberge state, the third largest state in Germany , visited Vietnam to conduct market survey and also to launch the next phase of a mini-credit project for poor farmers.

The project has been sponsored by the Sparkasse Bank, in association with the TYM Fund run by the Vietnam Women’s Union , to benefit the poor in 175 rural villages since 2005. As a result, 40,000 local poor farmer families with monthly incomes less than 10 Eur have managed to establish small production entities and develop animal husbandry for a better life

For his part, Vietnamese Consul General Nguyen Huu Trang called for German enterprises to intensify transfer of technology and economic management skills through investment in Vietnam./.
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