After 40 years of diplomatic ties, sustainable development is one of the 3 priorities in the co-operation framework between Vietnam and Germany. Supporting German companies in Vietnam is considered a win-win solution to strengthen ties between the two nations.
This factory belongs to a German fashion brand in Vietnam. Each year, it produces about 1 million items to supply to 120 stores across the globe, making Vietnam one of the two biggest production facilities of the company. After 20 years the company has focused on transferring its technology and personnel training.
"Germany is one of the leading economies in the EU. It has a very good foundation in terms of heavy industry. The growing relationship between Vietnam and Germany will help Vietnam to earn experience in developing key economic sectors including industry and energy", said Kim Thu Huong, Director, VAN LAACK-ASIA Vietnam.
German firms mostly invested in the garment and textiles industry. Now, Germany investors are also eyeing other sectors like electricity, pharmaceuticals, and car manufacturing. Bilateral trade has grown 15 to 20 per cent in the last 5 years.
German enterprises are offered preferential conditions to work in Vietnam. New German companies could seek information about the Vietnamese business climate through regular journals and also on-site field trips. Direct contacts between companies from the two sides are expected to further cultivate links between Vietnam and Germany.
