Vinh Phuc promotes investment potential in Germany

Berlin (VNA) – A conference introducing investment opportunities in Vietnam’s northern province of Vinh Phuc took place in Potsdam city of Germany’s Brandenburg state on August 28.

The event was organised by a working delegation from Vinh Phuc, the Vietnamese Embassy in Germany, as well as authorities and enterprises of Brandenburg. 

Speaking at the conference, Vietnamese Ambassador to Germany Nguyen Minh Vu highlighted the two nations’ increasing ties across all fields and their potential for cooperation in infrastructure development, mechanics, innovation, industrialisation of agriculture, processing industry, human resources training, tourism and cultural exchange.

He said the Vietnamese Government and local authorities, including those of Vinh Phuc, are sparing no effort in building an attractive and transparent business climate to lure foreign investors.

Head of the Vinh Phuc delegation, Hoang Thi Thuy Lan, Secretary of the provincial Party Committee, informed the conference about her province’s potential for development and partnership.

Located near the capital Hanoi and Noi Bai international airport, Vinh Phuc has favourable transport infrastructure in road, rail, and waterways. From an agricultural land, it has been developed into an industrial province with the proportion of industry and services accounting for 90 percent of the local economic structure.  

As of June 2019, the province housed 1,095 investment projects, including 357 foreign-funded ones worth more than 4.7 billion USD from 17 countries and territories. Germany is investing in one project valued at 250,000 USD in Vinh Phuc.

Lan said her province wants German firms, including those from Brandenburg, to consider investment in local industry, particularly auto assembly and electronics; urban and service development; clean and high-tech agriculture; and vocational training.  

A representative from the Potsdam chamber of commerce and industry IHK said both Potsdam and Vinh Phuc are located near the capitals and large international airports and have the conditions for agricultural and tourism development.

Noting that cooperation has fallen short of potential, the official suggested the localities work together in auto industry, renewable energy, environmental technology and vocational training.

The same day, the Vinh Phuc delegation paid a courtesy call to Brandenburg leaders and worked with the German multinational conglomerate Siemens./.