Making news

Germany's Bremen state - Gateway to the EU for Vietnamese firms

The German state of Bremen can serve as an important gateway for Vietnamese businesses to penetrate into the German market and the EU in general, a workshop in Ho Chi MinhCity on March 31 heard.

According to Tran Phu Lu, Deputy Director of the Investment and Trade Promotion Centre (ITPC), Germany is Vietnam’s largest European partner, accounting for nearly one-fifth of its export value to the EU.

Trade between the two countries has doubled since 2010 and increased over 10 percent annually to more than 10 billion USD. The figure topped 1.5 billion USD as of February, up 5 percent year-on-year.

Germany now ranks 18th among countries and territories investing in Vietnam, with 361 projects from more than 300 enterprises worth over 2 billion USD, primarily in mechanics, machinery, logistics, chemicals, and renewable energy.

Vietnam, meanwhile, has invested in 35 projects in Germany valued at around 250 million USD, focusing on finance-banking, computers, and restaurants and hotels.

Notably, Germany has poured investments into key projects in HCM City such as Metro Line No 2 and Viet-Duc University.

Hoang Thi Huong, Chief Representative of the Economic Development Agency of the State of Bremen in Vietnam (BremenInvest), highlighted the significant geographical location of Bremen and its cities.

Bremen is a leading industrial hub in Germany and Europe at large, possessing strengths in such sectors as auto and automation, maritime transportation, logistics, aviation, wind power and renewable energy, seafood processing, and startups, she added.

Delegates at the workshop agreed that Bremen holds substantial potential for Vietnamese enterprises.

Experts also reminded enterprises to take into account the high-tech content of products and services, as well as environmental and health issues./.