German businesses monitor Vietnam’s market

Asia has become a successful business story and more overseas investors want to invest in China and Vietnam, said Holger Benthien, Deputy Head of the German Business Association (GBA) in Vietnam at a meeting in HCM City on May 26.

He emphasized that German businesses are paying more attention to the Vietnamese market and want to boost trade and investment as the country is politically stable and has a young, skilled and industrious workforce.

Other participants in the meeting marking the GBA’s 15th anniversary shared the same viewed, the Chairman of GBA, Alexander Bischoff, hailed Vietnam’s economic achievements in recent years and pledged to strengthen commercial and economic relations between Germany and Vietnam.

He said German businesses have contributed greatly to maintaining the flow of investment capital into Vietnam and are keen to invest in the country’s education, infrastructure construction and environment protection.

Serge Soucek, a representative from the German flag carrier Lufthansa said Vietnam has a rapidly developing and huge potential market and his airline plans to increase its passenger and freight services to the country.

The GBA has a total of 150 members, representing German’s major industrial sectors, including high-tech, logistics, commerce, finance and law, providing technologies and modern models of management to Vietnam.

German’s total investment in Vietnam is estimated at US$1.2 billion. Its two-way trade turnover reached US$4.7 billion last year with exports accounting for US$1.3 billion and imports worth US$3.4 billion.

VOV

Tags: Vietnam Germany cooperation