A German business delegation will showcase their products in Vietnam later this month in an effort to improve economic cooperation between the two countries and help develop Vietnam’s production capabilities.
Led by Baden-Wurttemberg state minister Ernst Pfister, the 11-company delegation will participate in seminars in Hanoi and HCM City to share with Vietnamese businesses their various technologies.
Germany is the fifth leading supplier of machinery and equipment to Vietnam, and the delegation hopes the visit will build on this.
Vietnam’s future growth will rely on increasing export value, which means Vietnam should upgrade its domestic production standards and invest in modern equipment, said Wolfgang Ehmann, CEO and chief representative of the German Industry and Commerce Chamber (GIC) in Vietnam.
Trade and investment between Vietnam and Germany has increased five fold in the last 10 years. Statistics from the GIC reported there are more than 230 German organisations and companies in Vietnam, most of them involved in electronic equipment production, the automotive sector, the wholesale business, textiles,’ health care or education.
Following a slump during the Asian financial crisis, there has been a distinct revival of interest in the Vietnamese market by German companies, said Ehmann.
Vietnamese companies are also strong exporters to Germany thanks to their efforts in trade promotion, he said. The chamber estimated roughly 700 Vietnamese trade delegations or businesspeople to travel to Germany a year to showcase their goods.
The event, which is organised by the German Industry and Commerce Chamber in Vietnam and the Vietnam representative office of the Association of German Chambers of Industry and Commerce, will take place in Hanoi on November 22 and 33, and HCM City on November 25 and 26.