German Companies Can Still Invest Heavily in Vietnam

Ample Room Remains for German Firms to Invest in Vietnam
President of the Viet Nam Union of Friendship Associations (VUFO) Phan Anh Son (third from right) and representatives of the German delegation at the meeting. Photo: VUFO

At a reception for a delegation of German businesses in Hanoi on September 29, Son pledged that the VUFO would support German firms to operate effectively in Vietnam.

The German side commended Vietnam’s dynamism and potential, saying the visit aims to explore the market and accelerate German investment there.

Earlier, the delegation had a working session with representatives from the Ministry of Industry and Trade, where Deputy Minister Nguyen Sinh Nhat Tan noted that Vietnam prioritizes the development of renewable, new, clean energy.

He emphasized investment opportunities for foreign investors, including those from Germany, in these fields.

Earlier, German news website NTV published an article highlighting the attractiveness of the Southeast Asian country to German businesses.

According to the article, Vietnam has long been famous for shoes, garments textiles, coffee, and pepper. The country is always ready to innovate and absorb new technologies, so it has a good reputation as an electronics manufacturing hub.

Meanwhile, “Made in Germany” goods and machinery are also very popular in Vietnam, along with automobiles and chemical products. Germany currently has about 350 companies with offices and facilities in the Southeast Asia country, it said.

Two-way trade turnover reached EUR18 billion (USD19.2 billion) last year, of which shipments from Vietnam accounted for EUR14.7 billion. Germany is currently Vietnam’s most important trade partner in the European Union (EU) while Vietnam is Germany’s largest partner in the Association of Southeast Asian Nations (ASEAN).

Ludwig Graf Westarp, the representative of the German Association for Small- and Medium-sized Businesses (BVMW) in Vietnam, said Vietnam is a country with many development opportunities and a very vibrant market. Over the recent years, the country has poured much capital into infrastructure, roads, ports, and airports. Vietnam is also expanding its renewable energy industry which requires not only experience but also technology from Germany.

Rosy Huong

The post German Companies Can Still Invest Heavily in Vietnam appeared first on Vietexplorer.com.

Comments

Post a Comment

Popular posts from this blog

How Vietnamese parents utilize Facebook to nurture their children’s love for reading

Image
Duong Quang Minh, a teacher from the Mekong Delta city of Can Tho, came up with the idea for this campaign. The goal is to help parents integrate a reading habit into their children’s daily routines. The campaign provides practical guidance and a roadmap that has been proven successful in many families. The program is divided into several sessions that will take place throughout 2024. It will kick off with 12 interactive workshops scheduled from January 1 to February 7. Le Thi Thuy Phuong reads a book with her daughter in Ha Giang Province, northern Vietnam. Photo: Supplied Following the introductory workshop, parents are encouraged to participate in a competition to create a reading corner within their homes. “Creating this space doesn’t require a lot of shopping or a big investment. It can be done with items that are already available in the household,” said Minh. “Having a designated book corner in each home has been proven to significantly increase children’s engag
Read more

Ninh Binh requests increased UNESCO support for heritage conservation

Image
During a meeting with a UNESCO delegation led by Jonathan Baker, Chief Representative of UNESCO in Vietnam, Huan highlighted the crucial role that UNESCO has played in the socio-economic development of Ninh Binh Province. He emphasized that since Trang An complex received UNESCO recognition in 2014, it has contributed to local economic restructuring and the development of tourism. Ninh Binh is committed to transforming into a millennium urban heritage site and a creative city with exceptional values. Recognizing the challenges in preserving and promoting heritage values, climate change, and urbanization, the province hopes to receive further assistance from UNESCO. This includes mobilizing international resources for archeological and biodiversity research, as well as implementing advanced preservation measures. Ninh Binh also seeks UNESCO’s support and close cooperation in building a UNESCO charter or declaration for the Trang An landscape complex. Ninh Binh is home to the UN
Read more

French researcher uncovers mysteries of Vietnamese traditional art

Image
Recently, French researcher Charlotte Aguttes-Reynier (President of the Asian Artists Association in Paris) presented the book Modern Art in Indochina (L’Art Moderne En Indochine) to the Vietnamese public, shedding light on the darkness that obscures the richness and importance of Indochinese art, an important part of international art history. On this occasion, Charlotte Aguttes-Reynier talks to The Hanoi Times about her experiences after 10 years of research into Vietnam’s Golden Age of Art. How did you come to research Indochinese art? Since I was a child, I followed my father, the owner of the Aguttes auction house, to museums and collectors. In 1995, my family moved to Paris, where the art market was vibrant. I became interested in painting in general, oriental painting, and impressionism. Gradually, I have specialized in modern art. Since 2013, I have been studying Indochinese art and artists from Asia. Since then, I have supervised and auctioned about 1,000 paintings, incl
Read more