German toy association eyes investment in Vietnam hinh anh 1Trade Counsellor of the Vietnamese Embassy to Germany Nguyen Huu Trang (1st, right) and DVSI Managing Director Ulrich Brobeil (2nd, left). (Photo: VNA)

Berlin (VNA) – Managing Director of the German Association of the Toy Industry (DVSI) Ulrich Brobeil has met with Vietnamese diplomats to discuss the association investing in Vietnam.

Speaking at the meeting with Trade Counsellor of the Vietnamese Embassy to Germany Nguyen Huu Trang and Vietnamese Consul General in Frankfurt Nguyen Hong Linh on May 31, Brobeil said many of its member companies regard Vietnam as a priority for investment.

They want to learn more about the country’s business climate and regulations for toy manufacturing, the DVSI managing director noted.

He added that the association will hold a promotion event in Munchen or Nurnberg, Germany to introduce the Vietnamese market this year, while a group of enterprises from the state of Bayern will visit Vietnam early next year to seek investment opportunities.

Founded in 1991, the DVSI comprises of 230 toy producers and distributors from across Germany, most of which are small- and medium-sized enterprises with long histories. Big names include Play Mobil, Ban Dai, Nici, Noch and Steiff.

Last year, DVSI members earned 3 billion EUR in revenue. They employed more than 11,000 workers and accounted for about 80 percent of the German toy market.

More than 70 percent of their products are being made in China following German standards but there is a growing trend in which German toy producers have been moving their factories away from China and relocating them in other Asian nations.-VNA