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German delegation seeks trade cooperation with Việt Nam

German delegation seeks trade cooperation with Việt Nam

HANOI: Việt Nam has changed dramatically in the last three decades, thanks to its dynamic economic growth, and is close to being called an industrialised country. This is a promising start for further expansion of business relations between Germany and Việt Nam.

The statement was made by Volker Wissing, Deputy Prime Minister of the State of Rhineland-Palatinate cum Minister of Economic Affairs, Transport, Agriculture and Viniculture of Rhineland-Palatinate, at a conference in Hà Nội on Monday.

Despite being one of the 16 smallest States in Germany, Rhineland-Palatinate is a successful and forward-looking business region on the international stage. Besides its traditional strengths in chemical, pharmaceutical, automotive and mechanical engineering industries, the State is well-positioned in the environmental technology, agriculture and healthcare industrial sectors.

Last year, Rhineland-Palatinate’s gross domestic product reached 144 billion euros (US$177.56 billion) and created some 20,000 jobs. The State has a clear orientation for export, with 55.9 per cent of economic output for the exporting sector.

According to Joe Weingarten, head of Innovation and Technology Department under the Ministry of Economic Affairs, Transport, Agriculture and Viniculture of the State of Rhineland-Palatinate, the State is currently targeting six key sectors: life sciences and health economy; energy and environmental technologies and resource efficiency; automotive and commercial vehicle industry; information and communication software systems; material and surfaces as well as microsystems, sensor technologies and automation.

At present, there are some 300 German enterprises doing business in Việt Nam, of which 68 per cent said they were satisfied with the country’s business environment and 75 per cent hoped to further invest in Việt Nam in future.

However, one of the main obstacles for German firms is seeking skilled workers in Việt Nam, said Marko Walde, chief representative of German Industry and Commerce Việt Nam.