Vietnam always keeps its door wide open for German investors and facilitate their long-term business in the country, Prime Minister Nguyen Tan Dung said Friday.
During his meeting with German Vice Chancellor and Federal Minister for Economic Affairs and Energy Sigmar Gabriel in Ho Chi Minh City, Dung expressed delight at the growing bilateral ties between the two countries in all fields, especially in trade and investment
Gabriel was in the city to attend the 14th Asia-Pacific Conference of German Business (APK), which took place on November 20-21.
The event opened up new investment and cooperation opportunities for German enterprises in Asia-Pacific countries, including Vietnam, Dung said in the meeting.
Germany is the largest European trade partner of Vietnam with two-way trade reaching US$8 billion, accounting for more than 20 percent of the total trade between Vietnam and the EU.
According to Gabriel, Germany is keen on boosting partnership with Vietnam in all fields, especially economics, trade, investment, culture, education, and tourism.
The two leaders agreed that the early ratification of the Partnership and Cooperation Agreement (PCA) and the signing of the free trade agreement (FTA) between Vietnam and the EU will generate great opportunities for businesses from both Vietnam and the EU, including Germany.
In need of investment
Vietnam’s dynamically growing economy is in need of investments worth billions of dollars in infrastructure, renewable energy, transportation, seaport development and other areas, which provides a great opportunity for foreign investors, Dung said as he addressed the APK on Friday.
After growing 5.42 per cent in 2013, Vietnam's economy has been expanding faster this year, with the third quarter's annual growth quickening to 6.19 per cent, from 5.42 per cent in the second quarter and 5.09 per cent in the first three months, government data show.
Dung said Vietnam is to post an average GDP growth of 5.8 percent this year and expects 6.2 percent growth for 2015.
Vietnam is undertaking maximum efforts to make its legal and business climate more comprehensive, favourable and competitive, he said.
While many German players have been operating in Vietnam for a long time, including Siemens, Daimler, Adidas, Braun and Allianz, economic cooperation has yet to meet its full potential and match the sound relations between Vietnam and Germany, Dung said.
Meanwhile, Vice Chancellor Gabriel said Germany was keen to facilitate Asian-Pacific businesses to build partnerships in the country.
He also expressed his belief that after the conference, which attracted over 700 German and regional enterprises, new partnership opportunities would open up for both sides.
APK the most important event of the German business network, with the aim of promoting trade and exchange between regional partners, economists and politicians.
Entitled “Understanding Trends and Perspectives,” the two-day event included a dialogue with Asian ministers and discussions on a range of areas, including an overall outlook for Asia; a vision for smart manufacturing, raw materials and resources; and the expectations of Asia’s emerging middle classes.
This was the first time Vietnam hosted the event, which has been organised biannually in Asia since 1986.
On the sidelines of the event, PM Dung met with leaders of Airbus Group and Deutsche Bank.