Strong business links boost Vietnam-Germany ties

20:32 | 24/11/2018
In anticipation of landmark free trade agreements, German businesses are seeking to expand business and investment in Vietnam, strengthening the two countries’ bilateral ties.
strong business links boost vietnam germany ties
Siemens is one of the most impactful successful German businesses in Vietnam

A number of German entities and enterprises accompanied Martin Dulig, Minister of Economy, Labour and Transportation and Deputy Governor of the State of Sachsen, Federal Rebulic of Germany on his official visit to Vietnam on November 17-24, 2018 to seek business and investment opportunities.

As part of the visit, on November 19, the delegation held a meeting with the Hanoi People's Committee and visited key joint development projects under businesses of the two countries. Martin Dulig expressed hope that the visit would open more business opportunities for the businesses of the two sides in the months to come.

strong business links boost vietnam germany ties
Minister Martin Dulig met with the Chairman of the Hanoi People's Committee

Likes other countries, Vietnam is facing a number of challenges related to sustainable development, environmental protection, and urban infrastructure development. Thus, Martin Dulig hopes that more detailed co-operation opportunities will be created to help the city deal with these issues.

Nguyen Duc Chung, Chairman of the Hanoi People’s Committee, in response, agreed that Germany is a priority partner to the city, expecting that businesses of the two countries will boost partnership in more projects in the future.

As part of the visit, Martin Dulig witnessed the signing of a Memorandum of Understanding (MoU) between AquaOne Vietnam and Germany's Aone Deusheuche on developing a solar power system on the rooftop of water treatment pools at Song Duong Surface Water Treatment Plant (SDWTP).

strong business links boost vietnam germany ties
Minister Martin Dulig witnessed the MoU signing

The MoU will contribute to strengthening co-operation in technology transfer and experience sharing in project development, affirming the co-operation potential in the fields of economics, culture, renewable energy, environment, and sustainable development between Vietnamese and German businesses.

The first phase of SDWTP, the largest water supply project in Northern Vietnam, was put into operation on October 13, supplying clean water to thousands of locals and residents of surrounding provinces.

Germany's Aone Deutschland AG and Strabag are the contractors of the first phase with the most modern technology.

strong business links boost vietnam germany ties
Minister Martin Dulig visited Song Duong Surface Water Treatment Plant

The second phase is now being developed and is expected to be completed in October 2019 with a capacity reaching 300,000cu.m per day.

In addition to economic co-operation, the partnership between Vietnam and Germany has been further enhanced through cultural activities.

Before the Hanoi visit, Martin Dulig attended the inauguration of Vietnam House in Germany. Meanwhile, in Hanoi, ‘Deutschland-Fest 2018: German experiences’ was hosted by the German Embassy on November 2-3, 2018.

At the Deutschland-Fest 2018, German Ambassador Christian Berger emphasised that, “The Vietnamese-German relationship has turned to a new page.”

As shown by the statistics from the Vietnamese Ministry of Planning and Investment, German investment in Vietnam reached $282 million in the first 10 months of 2018, ranking 13th among 105 countries and territories investing in Vietnam.

According to the annual AHK World Business Outlook survey of more than 3,500 German businesses worldwide, 54 per cent expected to continue expanding investment in Vietnam in the next 12 months, while 52 per cent wanted to recruit more staff.

“The CPTPP opens up business opportunities for participants but also for German firms, since many of them already operate and invest in CPTPP countries. Therefore, just as the Asian members, German firms may exploit the agreement under specific conditions and the German Industry and Commerce Vietnam is pleased to accompany businesses from both countries on the path to success in Vietnam and in Germany,” Marko Walde, chief representative of German’s Chamber of Commerce in Vietnam, told VIR.

What is more, the Vietnamese economy has been growing continuously, in addition to the conclusion of negotiations on the EU-Vietnam Free Trade Agreement (EVFTA).

strong business links boost vietnam germany ties German businesses want to expand investment in Vietnam, says survey

German business expectations remained largely positive in Vietnam, according to the annual AHK World Business Outlook report compiled by the German Chambers of Commerce Abroad.

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By Bich Thuy

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