Analyses & Etudes

Vietnam woos European investors

Vietnam will create the best possible conditions for German businesses who want to invest in the country, Ambassador Doan Xuan Hung said. The diplomat made the statement while addressing a ​workshop in Germany’s Frankfurt city on April 19 that aims to promote investment in the Association of Southeast Asian Nations (ASEAN).

Vietnam has huge demand for capital, science and technology from European nations, including Germany, said the ambassador. Highlighting Vietnam’s resolve on international integration, including ASEAN, Hung said the country had proven itself a responsible member of the ten-member group. The country is making efforts to meet standards set by the ASEAN Economic Community (AEC) by fine-tuning its legal system administrative procedures, he noted.

Vietnam is also implementing an array of new-generation free trade agreements such as the Trans-Pacific Partnership (TPP) agreement and the Vietnam-EU Free Trade Agreement, the ambassador said.

Minister Counsellor of the Vietnamese Embassy in Germany Nguyen Huu Trang highlighted Vietnam’s “golden population structure” with young and dynamic labour forces as one of the country’s strengths. Trang said a community of 125,000 Vietnamese in Germany had served as a bridge promoting bilateral trade and investment ties. Trang praised the contributions of German firms such as Mercedes Benz, Siemens and Bosch to Vietnam’s economy over the past three decades. More and more small and medium-sized German enterprises are investing in Vietnam, he noted. Apart from organising trade promotion events, the Vietnamese Embassy will work with German businesses to handle problems hindering their operations in the Southeast Asian nation, Trang said.

Delegates at the workshop stressed ASEAN member countries’ determination to overcome differences in development, politics and culture to build the AEC. Changes in the investment climate in these nations have created optimal conditions for investors from the EU and Germany, they said. The event was held by Vietnamese, Malaysian and Thai Embassies with the participation of about 200 representatives from enterprises and investment promotion organisations of Germany and several European nations. The Vietnamese Embassy is scheduled to organize another workshop on economic cooperation between Vietnam and Germany in June.

Source: Vietnam Plus

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