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.

Nhận xét

Đăng nhận xét

Bài đăng phổ biến từ blog này

Travel enthusiasts flock to Hanoi Tourism Festival 2023

Hình ảnh
As soon as Nguyen Gia Trung Hieu, representing Flamingo Redtour at the Hanoi Tourism Festival 2023, put the flyers of the travel packages on the table, the interest of local visitors in the travel packages started to grow. Hieu said that about 80 people visited the booth and got information about tours within one hour on the festival’s first day. The travel demand is increasing as the summer season approaches. This year, the demand for traveling to destinations such as Phu Quoc Island and the Northwest Region is high,” he said. Although the prices of flights to some domestic destinations are skyrocketing, those who book a tour through our company will be able to enjoy a preferential price,” he told The Hanoi Times .  Hieu is introducing tours to local visitors at the booth. Photos: Do Huong/ The Hanoi Times During the festival, Flamingo Redtours JSC will introduce thousands of domestic and international tours with prices ranging from VND2.2 million (US$93.9) to VN...
Đọc thêm

Young individuals in traditional attire captivate foreigners’ attention in Hanoi

The event, organized by young enthusiasts of Vietnamese traditional costumes, showcased various traditional garments including nhat binh (square-collared garb), ngu than (a five-paneled aristocratic gown from the 19th and early-20th centuries), and ao dai (Vietnam’s traditional long gown), among others, as well as traditional hats. Foreign tourists were impressed by young people dressed in unique and colorful traditional outfits. Many of them used their smartphones or cameras to capture the essence of the event, which was filled with Vietnamese culture. Nguyen Nga, a member of the organizing board, explained that the aim of the event was to promote Vietnamese traditional costumes to the public. While ao dai is already well-known, many people are not familiar with other types of traditional costumes, which are also valuable parts of the country’s heritage, Nga added. Daniel, a British tourist, expressed his excitement when he came across the event during his stroll in Hanoi. It was t...
Đọc thêm

Vietnam and Cuba Enhance Military and Defense Collaboration

Hình ảnh
On November 24, Deputy Director of the General Department of Politics under the Vietnam People’s Army (VPA) Sen. Lieut. Gen. Trinh Van Quyet received a young officer delegation from the Cuban Ministry of Revolutionary Armed Forces, led by second chief of the ministry’s Political Directorate General of Brigade Marcelo Perez, according to VNA. Quyet praised the defense cooperation between the two countries and the achievements of the collaboration between the young military officers of Vietnam and Cuba in recent years. At the reception. Photo: PANO He assured the guest that the Vietnamese people and army will always stand side by side with and offer all possible support to Cuba , just as Cuba supported Vietnam during its difficult times in the struggle for national liberation and nation building. He also mentioned that the General Department of Politics of the VPA always supports and creates favorable conditions for young officers from both countries to enhance their exc...
Đọc thêm