Exciting Developments in Vietnam-Germany Relations!

By January 23, 2024 No Comments
ecovis

Exciting Developments in Vietnam-Germany Relations! German President Frank-Walter Steinmeier’s recent visit to Vietnam (Jan 23-24, 2024) marks a pivotal moment in diplomatic ties. Since 1975, Vietnam and Germany have thrived, notably with the 2011 Strategic Partnership and key visits, including PM Olaf Scholz’s in 2022.

📈 **Economic Collaboration Highlights:**
Germany stands as Vietnam’s leading EU trading partner, with bilateral trade in 2023 exceeding $17B USD. Notably, machinery, equipment, tools, and spare parts dominate this exchange, reflecting a thriving economic partnership. In 2022 alone, Vietnam imported goods worth US$3.61 billion from Germany, showcasing the depth of their economic interdependence. Over 500 German businesses have invested in Vietnam, generating 50,000+ jobs, with FDI projects totaling $2.74B USD as of Dec 31, 2023. Simultaneously, Vietnam’s 37 investment projects in Germany amount to $283.3M USD.

💡 **Opportunities for German Companies:**
Explore the vast potential of the Vietnamese market! German businesses, consider expanding your presence and contributing to our vibrant community. Whether in machinery, equipment, or other sectors, leverage the flourishing economic ties. Be part of this exciting journey, tapping into the abundant opportunities that Vietnam offers for German companies.