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The delegation of Vinh Phuc's leaders promoted investment in Germany

Friday, 05/08/2016

Implementing investment promotion programs in the Federal Republic of Germany, from 7/27 to 7/30/2016, the delegation of Vinh Phuc's leaders led by Mr. Nguyen Van Tri, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee had a number of investment promotion activities in Berlin capital and Frankfurt city.

The delegation of Vinh Phuc's leaders worked with Germany enterprises at Consulate General of Vietnam in Frankfurt

Coordinating with the Vietnam Embassy in Germany, in the afternoon of 7/29/2016, the delegation held a seminar "Meet Vinh Phuc" at the headquarters of the Embassy of Vietnam. Attending the seminar, there were Mr. Doan Xuan Hung, Ambassador Extraordinary and Plenipotentiary of Vietnam in Germany; Mr. Daniel Müller, Regional Director for South East Asia, the Association of the German Federal business in the Asia - Pacific region; representives of the Berlin Chamber of Commerce and Industry; Business associations and many German firms in Berlin capital and surrounding areas.

Speaking at the seminar, Mr. Doan Xuan Hung introduced the relationship between Germany and Vietnam in recent times. He sai, ''Germany is the largest trading partner of Vietnam in Europe, accounting for 19% of Vietnam's export to EU and is also an important transit gateway for Vietnam's goods to other markets in Europe. In recent years, bilateral trade turnover of the two countries has doubled, from USD 4.1 billion in 2010 to USD 7.8 billion in 2014. Major items of Vietnam were exported to Germany including shoes, garments, coffee beans, furniture, seafood, leather, electronics. However, German direct investment in Vietnam is still low, about 1.41 billion dollars, ranking 5th position in the European Union. In particular, with USD 3.45 billion in foreign investment capital in Vinh Phuc province, German accounted for only USD 250,000, the small amount compared to the ability of Germany investors .

Chairman Nguyen Van Tri introduced an overview of Vinh Phuc, investment opportunities as well as incentives to German businesses. He also stressed the advantages of geographic location, abundant labor resources, synchronous technical infrastructure and particularly commitments investment support of the province. In addition to attract FDI projects, Vinh Phuc province also desired to cooperate with enterprises and organizations of Germany in many other areas such as solid waste treatment, water treatment, technology transfer and vocational training ...

On behalf of organizations and firms attended the seminar, Mr Daniel Müller thanked Vinh Phuc province for creating opportunities for Germany businesses to attend the seminar on investment and cooperation opportunities in Vinh Phuc. He said that the Association of the German Federal business in the Asia - Pacific (OAV) is the leading organization of the Federal Republic of Germany in connecting business and investment opportunities in Asia - Pacific. The Association based in Hamburg city, which is the home for more than 500 enterprises of Germany. According to the OAV, Vietnam is the top concern of businesses in the Association because of competitive advantages om geographical location, business investment environment ... In 63 provinces and cities across the country, OAV highly appreciated Vinh Phuc, especially the favorable geographical location, near Noi Bai International Airport and young labor force.

However, he also said that the province should focus on calling for SMEs instead of large corporations. In addition, informations on investment sectors in the province should be more specific to satisfy information exchange requirements of businesses.

The two sides also exchanged issues such as: Regulations of the State of Vietnam for investment, vocational training cooperation, auxiliary industry, solid waste treatment... Mr. Daniel Müller said that he would visit Vinh Phuc in the nearest time to learn business investment opportunities.

On 7/27/2016, the investment promotion delegation of Vinh Phuc had a meeting with two German firms about projects of producing new materials and the application of Information Technology in education sector. According to the invitation of the Chairman of the Provincial People's Committee, it was expected that, these 2 business would visit Vinh Phuc on September of 2016 to examine carefully before making any investment decision.

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