Vietnam a promising market for Germany: Merkel

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German Chancellor Angela Merkel says Vietnam's growing economy offers many opportunities for German investors, especially in infrastructure, hi-tech and education sectors.

She made the statement at the Vietnam-Germany Economic Forum in Ho Chi Minh City on October 12, as part of her two-day visit to Vietnam, according to a report on the Vietnamese government's website.

Around 100,000 Vietnamese people are living in Germany and there are more than 100,000 people in Vietnam speaking German, the chancellor said, adding she's proud of the long-term relations between the two countries as well as the potential for further growth.

Merkel called for investors to focus on sectors that Vietnam is trying to develop, the government report said.

As many as 200 Vietnamese and German businesses attended the forum.

Speaking at the event, Deputy Prime Minister Hoang Trung Hai said Merkel's visit is a milestone marking a new phase for the relationship between Vietnam and German.

He said the Vietnamese government will continue to facilitate trade and investment relations between the countries. Hai also said Vietnam is a market with many advantages that German firms can exploit.

Germany is one of Vietnam's largest trade partners in the European Union. Trade value of the countries increased 20 percent last year to US$4.1 billion.

More than 200 German companies are operating in Vietnam, including major names like Siemens, Metro Cash & Carry and Deutche Bank.

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