Business

Seminar promotes German business, investment in Vietnam

The German Asia-Pacific Business Association (OAV) has held a seminar on business and investment in Vietnam, attracting the participation of many German firms.
Seminar promotes German business, investment in Vietnam ảnh 1Vietnamese Ambassador to Germany Vu Quang Minh (front row) at Schaeffler headquarters where the seminar takes place (Photo: VNA)
Berlin (VNA) – The German Asia-Pacific BusinessAssociation (OAV) has held a seminar on business and investment in Vietnam,attracting the participation of many German firms.

Addressing the May 25 event in Bayern state, Ambassador Vu Quang Minh introduced the countries’ cooperation and its growthpotential.

According to the diplomat, Vietnam and Germany have allnecessary collaboration frameworks, including the EU-Vietnam Free TradeAgreement which took effect in August 2021. Meanwhile, Vietnam is among the countries with the most favourable FDI laws in the region and the world, and also one of the fastest recovering economies from the COVID-19 pandemic.

The Vietnamese and German economies are perfectly complementary to each other, Minh said, calling upon German investors in Vietnam to spreadtheir knowledge and experience on the market to the German business community.

Andreas Schick, OAV Country Committee Head for Vietnam and ChiefOperating Officer of Schaeffler AG – the second biggest German investor inVietnam, said Vietnam is increasingly attractive to investors thanks toimproved transport infrastructure, favorable conditions for developing greenenergy sources, a young, abundant and well-trained workforce, and the potentialfor human resources development in data science and information technology.

He unveiled that Schaeffler will continue to cooperate withVietnamese businesses and partners to expand production, and reduce greenhousegas emissions.

Nguyen Manh Hai, counsellor overseeing the investmentsection at the Embassy of Vietnam in Germany, affirmed that the VietnameseGovernment always creates the best conditions possible for foreign enterprisesto invest in the manufacturing and production sector.

By the end of 2021, Germany had a total of 415 effective FDIprojects worth 2.29 billion USD in Vietnam, with the biggest being a190-million-USD solar project in Thanh Hoa province./.
VNA
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