The relationship between Germany and Vietnam has been constantly developed in various fields, especially investment cooperation and development aid.
Nearly 200 Germany businesses are operating in Vietnam’s key fields, ranging from infrastructure, transports and communications to recycling energy to processing and banking.
Germany now ranks 22 nd among 90 countries and territories investing in Vietnam with 140 projects with a combined registered capital of 778 million USD.
Despite being affected by the global financial crisis and economic downturn last year, Germany had 15 direct investment projects in Vietnam totalling 112 million USD with more than three-fourths of the number of projects and two-thirds of the total capital focusing on infrastructure, transport, environment treatment, banking and technical service, finance, insurance, software industry, communications, processing and manufacturing.
German investment projects that have made active contributions to Vietnam’s economic development have been highlighted by the two countries’ prime ministers.
A number of German groups, including Metro Cash&Carry, Siemens, and Deutsche Bank have implemented investment projects in 22 cities and provinces, mainly in HCM City, Hanoi and the southern provinces of Binh Duong and Dong Nai.
A second metro project, which is considered a milestone in the two countries’ economic ties, is expected to start in HCM City in the middle of the year. It will help pave ways for more German investors to enter Vietnam in the coming time, particularly in 2010 – the year to mark the 35 th anniversary of Vietnam-Germany diplomatic ties and the grand celebrations of Hanoi ’s 1,000 th anniversary.
The two countries have signed a number of agreements which have created a legal foundation for expanding bilateral economic relations. They include a double taxation avoidance agreement, an investment promotion and protection agreement, and maritime and aviation cooperation agreements.
Germany is the largest regular donor of development assistance (ODA) to Vietnam . Since 1990, it has provided more than 1 billion EUR to Vietnam’s ODA projects and decided not to reduce its ODA even when it faced difficulties during the economic downturn.
At the consultative group (CG)’s meeting for Vietnam in 2009, Germany pledged 137 million EUR in development assistance to Vietnam for the 2009-2010 fiscal year (a year-on-year rise of 17 percent), making up nearly 12.7 percent of the total ODA of the European Union pledged for Vietnam.
The two sides will host “Vietnamese year in Germany” and “German year in Vietnam ” his year, with various political, economic and cultural activities to be held in localities throughout the two countries./.
Nearly 200 Germany businesses are operating in Vietnam’s key fields, ranging from infrastructure, transports and communications to recycling energy to processing and banking.
Germany now ranks 22 nd among 90 countries and territories investing in Vietnam with 140 projects with a combined registered capital of 778 million USD.
Despite being affected by the global financial crisis and economic downturn last year, Germany had 15 direct investment projects in Vietnam totalling 112 million USD with more than three-fourths of the number of projects and two-thirds of the total capital focusing on infrastructure, transport, environment treatment, banking and technical service, finance, insurance, software industry, communications, processing and manufacturing.
German investment projects that have made active contributions to Vietnam’s economic development have been highlighted by the two countries’ prime ministers.
A number of German groups, including Metro Cash&Carry, Siemens, and Deutsche Bank have implemented investment projects in 22 cities and provinces, mainly in HCM City, Hanoi and the southern provinces of Binh Duong and Dong Nai.
A second metro project, which is considered a milestone in the two countries’ economic ties, is expected to start in HCM City in the middle of the year. It will help pave ways for more German investors to enter Vietnam in the coming time, particularly in 2010 – the year to mark the 35 th anniversary of Vietnam-Germany diplomatic ties and the grand celebrations of Hanoi ’s 1,000 th anniversary.
The two countries have signed a number of agreements which have created a legal foundation for expanding bilateral economic relations. They include a double taxation avoidance agreement, an investment promotion and protection agreement, and maritime and aviation cooperation agreements.
Germany is the largest regular donor of development assistance (ODA) to Vietnam . Since 1990, it has provided more than 1 billion EUR to Vietnam’s ODA projects and decided not to reduce its ODA even when it faced difficulties during the economic downturn.
At the consultative group (CG)’s meeting for Vietnam in 2009, Germany pledged 137 million EUR in development assistance to Vietnam for the 2009-2010 fiscal year (a year-on-year rise of 17 percent), making up nearly 12.7 percent of the total ODA of the European Union pledged for Vietnam.
The two sides will host “Vietnamese year in Germany” and “German year in Vietnam ” his year, with various political, economic and cultural activities to be held in localities throughout the two countries./.
