Vietnam is one of the developing countries with a policy of free market access, thus attracting many foreign investors.(Photo: VNA) The article cited Horst Geicke, an investor and Chairman ofthe Deutsches Haus (German House) in Ho Chi Minh City, as saying that Vietnamis considered a new investment destination for a wide range of foreign investorsin general and German enterprises in particular.
In Asia, in addition to Singapore, only Vietnam has signed afree trade agreement with the European Union (EVFTA). German businessestargeting the Southeast Asian markets includes the automobile spare partssuppliers Brose and ZF, equipment manufacturer Kärcher, building materialsprovider Knauff, and consumer goods company Henkel.
The article said Vietnam posted nearly 27.72 billion USD intotal foreign direct investment and 22.4 billion USD in disbursed amount lastyear. These figures significantly contributed to Vietnam's impressive GDPgrowth of over 8% in 2022 and an average of 5.9% over the past 13 years.
It also mentioned the visit of German Chancellor Olaf Scholzto the country last November and emphasised that German leaders highlyvalue the relationship with Vietnam and wish to further enhance thisconnection.
Earlier, German magazine PT-Magazin also published an articleon investing in Vietnam, stating that in an effort to diversify supply chains,medium-sized enterprises still see the nation as an interesting choice.
According to the article, Vietnam is one of the developing countries with apolicy of free market access, thus attracting many foreign investors. Many havechosen well-known locations, such as Ho Chi Minh City and its neighbouring provinces inthe south, Bac Ninh and Hai Phong in the north, and Da Nang in the centralregion. Currently, less-developed destinations like Quy Nhon are also gainingattention./.
VNA
