German Minister of Economics and Technology Philipp Roesler has
emphasised that Vietnam needs to maintain legal stability to attract German
investment into the country.
Speaking at a Vietnam-Germany
Business Forum in Hanoi on September 18, Roesler affirmed that Germany will
ensure a stable legal framework for Vietnamese businesses when implementing
agreements already signed by the two countries.
He said despite difficulties,
Germany considers Vietnam a strong ASEAN economy and values its recent
development.
Minister of Investment and
Planning Bui Quang Vinh said Germany has been a major provider of ODA for
Vietnam over the years, contributing a total of more than €1 billion to its
socio-economic development projects.
However, Vinh said, such
investment is not on a par with the two countries’ potential and strengths.
He proposed that both sides work
more closely together to boost bilateral cooperation, especially in the areas
of Germany’s strength, such as advanced and clean technology, as well as high
quality services.
After the forum, both ministers
witnessed the signing of a memorandum of understanding on cooperation between
the Vietnamese Ministry of Construction and the German Schwäbisch Hall home
savings and loan company, and a contract between the Vietnam Motor Industry
Corporation and Siemens Vietnam Ltd. Vietnam for manufacturing buses.
German businesses are now
operating 184 projects in Vietnam with a total registered capital of $904
million, ranking 24th of the 95 countries and territories investing in the
country. It is also one of the main places Vietnam promotes trade because of
its advantages in modern technology, potential capital, and advanced management
experience.
Germany is Vietnam’s biggest
European trade partner, accounting for 18 per cent of its exports to the EU,
and is also a gateway for Vietnamese products to penetrate other European
markets.
Thanks to Germany’s economic
recovery, two-way trade reached nearly €6 billion in 2011.
VOV
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