Around 500 German companies are actively operating in Vietnam
- 198
- Business
- 18:14 22/12/2023
DNHN - Furthermore, the concept of industrial diversification is given priority by 42% of German firms operating in Vietnam. A strategy of increasing sales and marketing is employed by 41% of respondents; services make up 35% and logistics 31%.
There are currently about 500 German businesses actively working in Vietnam or collaborating in business with Vietnamese enterprises, according to a recent statement from the German Business Association in Vietnam. 91% of German businesses intend to boost their investment in Vietnam, according to the "AHK World Business Outlook - Autumn 2023" poll, which was carried out by the German Chamber of Industry and Commerce in Vietnam (AHK Vietnam). This is an increase from 2021.
Additionally, 42% of German businesses in Vietnam place a high priority on production diversification plans. 41% of respondents have a plan to increase sales and marketing; services make up 35%, and logistics make up 31%. This indicates a well-rounded approach to business development. Furthermore, roughly half of the enterprises questioned acknowledged that the Vietnamese market's development potential was a significant consideration when thinking about expanding their investments.
In actuality, Germany launched 28 new FDI projects in Vietnam in the first 11 months of this year. With nearly 410% more value recorded than during the same period last year, the total registered value was US$342 million. According to GBA estimates, there were 459 German foreign direct investments (FDI) valued at US$2.5 billion in Vietnam as of October.
The presence and rising investment, according to GBA Co-Chairs Elmar Dutt and Torben Minko, not only shows German companies' confidence in the Vietnamese market but also indicates that Vietnam is viewed as a potential location for those looking to expand their business in Asia.
Simultaneously, the GBA Chairman underscored that the organisation is dedicated to collaborating closely with the Vietnamese government to foster a beneficial and transparent business environment, particularly concerning legislation, taxes, labour, and intellectual property rights.
"After the EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement in 2020, it is essential to share with German companies and potential investors the opportunities and challenges of doing business in Vietnam".
"Therefore, we will continue to provide important guidelines for businesses, in parallel with promoting German business culture and values in Vietnam, as well as supporting social responsibility and sustainable development", stated Elmar Dutt and Torben Minko.
According to the association, in 2024, the industries that stand to benefit greatly from German investment are food and agriculture; digitalization and creative technical solutions in the manufacturing, logistics, education, and healthcare sectors; and renewable energy, particularly solar and wind power.
One of the biggest and oldest international business associations in Vietnam is the GBA. There are presently 375 member companies and 15 partner companies in the association.
Trang Anh
Related news
- Viettel collaborated with Ericsson to promote the deployment of 5G networks
- Sun Group proposed to build a 100 km long light rail line from Saigon to Tây Ninh
- How does FDI investment affect the real estate market?
- The banking sector is the highest brand value growth area in 2024
- How to develop secure electronic contracts?
- Real estate credit recovers slower than expected
- Honoring the spirit of the business community and entrepreneurs
- Expectations for businesses to play a greater, more significant role in the nation’s prosperity
- Challenges and opportunities in the final sprint of public investment disbursement
- Long An Province (Vietnam) Organizes Labor Promotion Workshop with Okayama City (Japan)
- Chairman of VINASME: Vĩnh Phúc businesses confidently aim for sustainable development
- Deputy Minister of Natural Resources and Environment Lê Minh Ngân: Enhancing land access for businesses
- Vietnam will become a maritime power in 2045 for this reason
- Many solutions needed for sustainable handicraft exports
- The "fierce" race for market share among securities companies
- Cross-border e-commerce: A driving force for Vietnamese businesses to expand globally
- Business leaders play a pioneering role in implementing ESG
- What needs to be done to improve the oil and gas price regulation mechanism?
- Avoiding cost overruns in the implementation of North-South high-speed railway
- Ben Tre - Eastern vision and potential for sustainable development
Đọc thêm Business
How does FDI investment affect the real estate market?
FDI investment has a profound impact on Vietnam's real estate market, especially during the first 9 months of 2024.
Long An province forges strategic ties with Korean Corporations, strengthens role in international economic relations
During a recent investment promotion mission to South Korea, a delegation from Long An Province, held important meetings with major Korean corporations such as STS Group, CS Wind, and GS Energy.
Green Power – Bringing a Green Mark to the Community
Renewable energy and semiconductors are the current and future trends. Vietnam and Global Power JSC (Green Power) is on a journey to conquer the market.
Real estate credit recovers slower than expected
Real estate credit is recovering slowly but is expected to grow rapidly thanks to low interest rates and more favorable supply. However, high house prices and low liquidity remain major challenges for buyers and investors.
Long An Province continues to Promote Korean Investment, Strengthen International Ties, and aim for a Green Economy and sustainable development
In the face of globalization and the growing demand for sustainable practices, Long An Province is proactively seeking foreign investment, particularly from South Korea, a key strategic partner for both Vietnam and Long An Province.
Challenges and opportunities in the final sprint of public investment disbursement
With just over 3 months left until the end of the 2024 fiscal year, the public investment disbursement rate has only reached 47.29%. The pressure is increasing, requiring ministries and sectors to concentrate their efforts in the coming period.
Long An is committed to accompanying and welcoming businesses "like family"
The province of Long An hopes that businesses investing in Long An will feel like they are returning to their home, collaborating together for long-term and sustainable development.
Vietnam - Cambodia - Laos: The friendship and solidarity relationship forged through challenges is an invaluable asset for the people of the three countries
Vietnam's investment in Cambodia and Laos remains among the top, with 205 projects in Cambodia (USD 2.95 billion) and 245 projects in Laos (USD 5.5 billion).
Vietnam will become a maritime power in 2045 for this reason
For Vietnam to become a strong maritime nation, wealthy from the sea as the Party and State have set out, many bold and synchronous solutions are being proposed.
2030 business Club organizes the forum "Young entrepreneurs - Global aspirations 2024
This year's event continues to be a space for sharing and connecting for over 500 entrepreneurs and businesses from both domestic and international markets.