Vietnam: High Evaluation by German Companies

 

With bilateral trade value in 2010 expected at US$5 billion, 10 percent more than 2009, Vietnamese export value to Germany will be US$3.5-3.6 billion, 9-12 percent more than 2009, while Vietnamese import from Germany will be US$1.5 billion, 7 percent more than 2009.

 

German companies highly value the Vietnamese market for its political stability, and young and hard-working workforce. In recent years, many German companies have invested in Vietnam, especially in new energy, bio-technology, IT and electronics.

 

At a meeting on the occasion of 35^th anniversary of Vietnam-Germany diplomatic relations and 20^th anniversary of the reunification of Germany, Mr Nguyen Huu Thien, President of Vietnam-Germany Friendship Association of Ho Chi Minh City, reaffirmed his confidence in the bilateral relations and emphasized the attraction of Ho Chi Minh City to German investors.

 

For his part, Mr Conrad Cappell, German Consul General in Ho Chi Minh City, said that Germany has a special interest in Vietnam, implementing several cooperation projects in political, trade, investment, environment, energy, music and fashion sectors. Due to geographical distance, Germany ranks only 22^nd among the 90 countries and territories investing in Vietnam. Though late in investment, German investments prove stable and lasting in Vietnam. The most important condition for German investment is the legal framework ensuring the protection of investment capital.

 

By the end of this year, some 100 German businesses will visit Vietnam and seek business and investment opportunities. The German high technology will complement the Vietnamese market and workforce.

Both Mr Thien and Mr Cappell have reaffirmed the growing relationship, with 100,000 Vietnamese studying and living in Germany, bringing bilateral relations to new heights.

 

Mr Serge Soucek, Lufthansa representative, considers Vietnam an emerging market, and Lufthansa will increase passenger and cargo flights to Vietnam in the near future.

 

One German company representative said his company will focus on the demand of Vietnam, one of which is vocational training, as it is most important for Vietnam. While another company seeks partners in logistics, as it is a lucrative market.

Regarding foreign investment, the German business association in Vietnam believes that Asia is a success story for the world. Vietnam is a success story in Asia. Therefore foreign investors, German investors in particular, are shifting their investments to Vietnam.