PM greets German Federal Minister of Economic Affairs and Energy

PM Nguyen Xuan Phuc hosted a reception for Ms. Brigitte Zypries, Federal Minister for Economic Affairs and Energy on July 6 during his official working visit to Germany for the G20 summit.

PM Phuc and Minister Brigitte Zypries exchanged ways and measures to beef up trade and investment activities, especially in energy, which Germany has strength and Viet Nam has demand in favor of sustainable development.

Minister Brigitte Zypries affirmed that she will spare no effort to encourage Germany enterprises to beef up their presence in Viet Nam and strive for Euros 15-20 billion of two-way trade turnover by 2020, especially albeit the Viet Nam-EU FTA (EVFTA) will be signed soon. Ms. Brigitte Zypries also pledged to jointly implement the Fast Track mechanism which was just signed between Viet Nam's Ministry of Industry and Trade and Germany's Ministry for Economic Affairs in order to quickly remove bottlenecks for businesses while investing and doing business in

the other country.

PM Nguyen Xuan Phuc welcomed big German companies such as Siemens, Mercedes Benz, Bosch, Braun, and Adidas for making effective investment in Viet Nam.

However, he noted that Germany's investment in

Viet Nam only stands at US$ 1.4 billion, which is still modest in comparison with the bilateral potential.

The two sides agreed to promote delegation exchanges and business presence at each other's trade fairs and exhibitions to encourage German small-and medium-sized enterprises to invest in Viet Nam.

The Vietnamese Government chief took the occasion to thank the German Government for providing official development assistance (ODA) for Viet Nam over the past years, which has made significant contributions to the Southeast Asian country's socio-economic development.

He suggested Germany further help Viet Nam to implement projects on vocational training, climate change adaptation and waste treatment.

Minister Brigitte Zypries pledged to provide more assistance for Viet Nam to conduct vocational training programs.

Both sides agreed to seek optimal measures to ensure interests of German enterprises in Viet Nam in accordance with its legal regulations.

After the meeting, PM Phuc and Minister Brigitte Zypries attended the opening ceremony of the Viet Nam-Germany Business Forum which drew the attendance of 600 German businesses and 100 Vietnamese ones. On this occasion, 28 cooperative deals were signed with a total value of over Euros 1.5 billion./.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam