The relationship between Germany andVietnam has been constantly developed in various fields, especiallyinvestment cooperation and development aid.
Nearly200 Germany businesses are operating in Vietnam ’s key fields, rangingfrom infrastructure, transports and communications to recycling energyto processing and banking.
Germany now ranks 22 nd among 90 countries and territories investing inVietnam with 140 projects with a combined registered capital of 778million USD.
Despite being affected by the global financial crisis and economicdownturn last year, Germany had 15 direct investment projects inVietnam totalling 112 million USD with more than three-fourths of thenumber of projects and two-thirds of the total capital focusing oninfrastructure, transport, environment treatment, banking and technicalservice, finance, insurance, software industry, communications,processing and manufacturing.
German investment projects that have made active contributions toVietnam ’s economic development have been highlighted by the twocountries’ prime ministers.
A number of German groups, including Metro Cash&Carry, Siemens, andDeutsche Bank have implemented investment projects in 22 cities andprovinces, mainly in HCM City , Hanoi and the southern provinces ofBinh Duong and Dong Nai.
A second metro project, which is considered a milestone in the twocountries’ economic ties, is expected to start in HCM City in themiddle of the year. It will help pave ways for more German investors toenter Vietnam in the coming time, particularly in 2010 – the year tomark the 35 th anniversary of Vietnam-Germany diplomatic ties and thegrand celebrations of Hanoi ’s 1,000 th anniversary.
The two countries have signed a number of agreements which have createda legal foundation for expanding bilateral economic relations. Theyinclude a double taxation avoidance agreement, an investment promotionand protection agreement, and maritime and aviation cooperationagreements.
Germany is the largest regular donor of development assistance (ODA) toVietnam . Since 1990, it has provided more than 1 billion EUR toVietnam ’s ODA projects and decided not to reduce its ODA even when itfaced difficulties during the economic downturn.
At the consultative group (CG)’s meeting for Vietnam in 2009, Germanypledged 137 million EUR in development assistance to Vietnam for the2009-2010 fiscal year (a year-on-year rise of 17 percent), making upnearly 12.7 percent of the total ODA of the European Union pledged forVietnam .
The two sides will host “Vietnamese year in Germany ” and “German yearin Vietnam ” this year, with various political, economic and culturalactivities to be held in localities throughout the two countries./.
Nearly200 Germany businesses are operating in Vietnam ’s key fields, rangingfrom infrastructure, transports and communications to recycling energyto processing and banking.
Germany now ranks 22 nd among 90 countries and territories investing inVietnam with 140 projects with a combined registered capital of 778million USD.
Despite being affected by the global financial crisis and economicdownturn last year, Germany had 15 direct investment projects inVietnam totalling 112 million USD with more than three-fourths of thenumber of projects and two-thirds of the total capital focusing oninfrastructure, transport, environment treatment, banking and technicalservice, finance, insurance, software industry, communications,processing and manufacturing.
German investment projects that have made active contributions toVietnam ’s economic development have been highlighted by the twocountries’ prime ministers.
A number of German groups, including Metro Cash&Carry, Siemens, andDeutsche Bank have implemented investment projects in 22 cities andprovinces, mainly in HCM City , Hanoi and the southern provinces ofBinh Duong and Dong Nai.
A second metro project, which is considered a milestone in the twocountries’ economic ties, is expected to start in HCM City in themiddle of the year. It will help pave ways for more German investors toenter Vietnam in the coming time, particularly in 2010 – the year tomark the 35 th anniversary of Vietnam-Germany diplomatic ties and thegrand celebrations of Hanoi ’s 1,000 th anniversary.
The two countries have signed a number of agreements which have createda legal foundation for expanding bilateral economic relations. Theyinclude a double taxation avoidance agreement, an investment promotionand protection agreement, and maritime and aviation cooperationagreements.
Germany is the largest regular donor of development assistance (ODA) toVietnam . Since 1990, it has provided more than 1 billion EUR toVietnam ’s ODA projects and decided not to reduce its ODA even when itfaced difficulties during the economic downturn.
At the consultative group (CG)’s meeting for Vietnam in 2009, Germanypledged 137 million EUR in development assistance to Vietnam for the2009-2010 fiscal year (a year-on-year rise of 17 percent), making upnearly 12.7 percent of the total ODA of the European Union pledged forVietnam .
The two sides will host “Vietnamese year in Germany ” and “German yearin Vietnam ” this year, with various political, economic and culturalactivities to be held in localities throughout the two countries./.
