Vietnam expects new investment flow from Germany

Vietnam is reforming its economy and creating the best possible legal environment for domestic and foreign investors, Prime Minister Nguyen Xuan Phuc told the Vietnam-Germany Business Forum in Berlin on Thursday.

Forum participants spoke highly of the Vietnamese economy's dynamism and investment potential, and hailed the Vietnamese government's efforts to solve difficulties facing businesses. Brigitte Zypries, German Minister for Economic Affairs and Energy, said: Vietnam is highly appreciated by German investors as a dynamic and emerging economy. Vietnam has great economic potential with a high growth rate. It has an ambitious young population, which promises good opportunities for German investors.

Prime Minister Nguyen Xuan Phuc expressed his desire that Germany, as the largest economy and an influential member of the European Union (EU), will help attract global resources into Vietnam: Germany's technologies and governance experience in mechanical engineering, automation, vocational training, and tertiary education will help Vietnam during the 4th industrial revolution. As Vietnam has a great demand for developing an automobile industry, we are looking for more German investment in Vietnam's support industry. German investors are encouraged to coordinate with local businesses, particularly in renewable energy development.

The same day, Prime Minister Nguyen Xuan Phuc received the CEOs of BMW Corporation in ASEAN, Munich airport, and BPCE International Bank.

He welcomed the companies' operation in Vietnam and pledged favorable conditions for foreign investors to seek business opportunities in the country. He said Vietnam prioritizes supportive industry and is preparing itself for the 4th industrial revolution. He added Vietnam requires high-quality human resources in the service sector, including finance-banking and airport logistics.

BMW, whose products are available in Vietnam, is seeking an opportunity to build an automobile manufacturing plant in the country. Munich airport, the 2nd largest in Germany and which employs 34,000 people, wants to work with Vietnam in human resource training.

BPCE International Bank has operated in Vietnam since the 1990s and is interested in piloting the 4.0 technology bank in Vietnam.

Source: VOV5