Business

Germany's Bremen state - Gateway to the EU for Vietnamese firms

The German state of Bremen can serve as an important gateway for Vietnamese businesses to penetrate into the German market and the EU in general, a workshop in Ho Chi Minh City on March 31 heard.
Germany's Bremen state - Gateway to the EU for Vietnamese firms ảnh 1Tran Phu Lu, Deputy Director of the Investment and Trade Promotion Centre (ITPC), speaks at the even (Photo: VNA)
HCM City (VNA) - The German state of Bremen can serve as an important gateway for Vietnamesebusinesses to penetrate into the German market and the EU in general, aworkshop in Ho Chi Minh City on March 31 heard.

According toTran Phu Lu, Deputy Director of the Investment and Trade Promotion Centre(ITPC), Germany is Vietnam’s largest European partner, accounting for nearlyone-fifth of its export value to the EU.

Trade betweenthe two countries has doubled since 2010 and increased over 10 percent annually to morethan 10 billion USD. The figure topped 1.5 billion USD as ofFebruary, up 5 percent year-on-year.

Germany nowranks 18th among countries and territories investing in Vietnam, with361 projects from more than 300 enterprises worth over 2 billion USD, primarily inmechanics, machinery, logistics, chemicals, and renewable energy.

Vietnam, meanwhile,has invested in 35 projects in Germany valued at around 250 million USD, focusingon finance-banking, computers, and restaurants and hotels.

Notably, Germanyhas poured investments into key projects in HCM City such as Metro Line No 2and Viet-Duc University.

Hoang Thi Huong,Chief Representative of the Economic Development Agency of the State of Bremenin Vietnam (BremenInvest), highlighted the significant geographical location ofBremen and its cities.

Bremen is aleading industrial hub in Germany and Europe at large, possessing strengths insuch sectors as auto and automation, maritime transportation, logistics,aviation, wind power and renewable energy, seafood processing, and startups,she added.

Delegates at theworkshop agreed that Bremen holds substantial potential for Vietnamese enterprises.

Experts also remindedenterprises to take into account the high-tech content of products andservices, as well as environmental and health issues./.
VNA
#German state #Bremen #Vietnam-Germany trade #Vietnamese businesses #BremenInvest #vietnamplus #vietnam news agency Germany Vietnam
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