More German Firms to Enter Vietnam, Ambassador
More German companies will invest in Vietnam after the country joins the World Trade Organization (WTO), said German Ambassador to Vietnam, Christian-Ludwig Weber-Lortsch, in an interview with Sate media.
“Being a member of WTO will bring Vietnam many opportunities for economic development and create more favorable conditions for foreign investors. At that time, German investors will be more assured to enter the country”, he said.
The Ambassador also highly appreciated the Vietnam’s high economic growth rate and hoped that it is one of the catalysts to tighten the two countries in economic cooperation.
However, Vietnam will face with challenges as well after becoming WTO’s member.
He added that the country should pay due attention to human recourses education and development to meet the demand for economic development after its WTO integration.
To date, Germany has 72 investment projects in Vietnam worth a total registered capital of $344.7 million.
Vietnam is also planning to establish a trade promotion office in Germany with an aim to facilitate local businesses to further penetrate the German market.
Germany is now Vietnam's biggest trade partner in the EU. The two countries posted two-way trade turnover of $1.7 billion in 2004, compared to $1.4 billion in 2003.
Vietnamnet
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