The workshop in Hamburg on December 5 (Photo: VNA) Addressing the event held at the IHKheadquarters, Vietnamese Ambassador to Germany Vu Quang Minh highlighted someoutstanding outcomes of German Chancellor Olaf Scholz’s recent visit toVietnam, noting the trip showed that Germany views Vietnam as a trustworthypartner in not only politics and security but also economy, trade, andinvestment.
Amid numerous global uncertaintiesand German enterprises’ intention to diversify business ties, Vietnam is one ofthe leading and trustworthy destinations for investors, he went on, suggestingthe two sides expand partnerships to renewable energy, green technology,digital economy, sustainable development, environment, farm produce processing,manufacturing, IT, pharmaceutical production, health care, and other keysectors of Germany.
By the end of September, Germany had436 FDI projects worth 2.34 billion USD in Vietnam, according to Counsellor incharge of investment Nguyen Manh Hai at the Vietnamese Embassy.
He noted the Southeast Asian countryis attracting more foreign investors thanks to low labour costs, an abundantworkforce, good production capacity, and incentives for businesses.
Talking about some advantages making Vietnamattractive to German firms, Regional Manager for ASEAN at OAV Daniel Marek saidVietnam has posted fast growth despite global economic difficulties during theCOVID-19 pandemic. Some of its key industries include textile - garment,footwear, electronics, and farm produce; while it imports mainly machinery,pharmaceuticals, and equipment from the European nation.
Bilateral trade reached 14.5 billionEUR (15 billion USD) in 2021, including 10.7 billion EUR in Germany’s importsfrom Vietnam.
At the workshop, representatives ofsome German businesses like TESA and the German Investment and Development Corporation(DEG) shared experience in operating in Vietnam and also pointed out several issuesrelated to production and business there./.
VNA
