Friday, August 18, 2017 - 19:43:22

Vietnam attracts 1.34b USD from German investors

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As of August 31, Germany has pumped 1.34 billion USD into 236 projects in Vietnam, according to the Ministry of Planning and Investment's Foreign Investment Agency.

With the amount, Germany now ranks 22nd among 101 nations and territories that are investing in Vietnam.

Among Vietnamese localities, Ho Chi Minh City was the most attractive destination for German businesses, attracting 93 projects worth more than 234 million USD.

It was followed by the southern provinces of NinhThuan and Dong Nai with two projects at 156.7 million USD and seven projects at 145.6 million USD, respectively.

The German investment came to a wide range of sectors including manufacturing, production, water, electric and gas distribution, retail and wholesale, agro-forestry and fisheries, wastewater treatment, finance and banking, insurance and science and technology.

Meanwhile, Vietnamese businesses have to date invested 92 million USD in 17 projects in Germany. They are investing in fields such as finance and banking, real estate, IT and trade.

A recent survey of the German ASEAN Chamber Network showed that German businesses were positive on Vietnam's economic outlook and had high expectations for the next year in terms of sales, production, human resource demand and capital expenditure.

Seventy percent of the German companies in the country confirmed positive market development over the past year and a good current situation leading to a more positive outlook than in 2013 on the overall economy, capital expenditure, and private and business consumption.

Around 50 percent of the firms have performed better compared to last year and expect to continue this strong run, especially in sales where 56 percent of the respondents forecast an increase over the next 12 months-VNA
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