10:27 | 11/11/2015 Cooperation
(VEN) - During his recent business trip to Vietnam, Peter Alltschekow, Managing Director Eastern Germany, Germany Trade & Invest GmBH talked with Vietnam Economic News’ Phung Khuu about promoting potential cooperation between East German and Vietnamese businesses.
Could you brief this year’s business trip?
From the success of last trips, we are happy to lead the delegation to visit Vietnam again. This year, our delegation has 10 companies with a wide range of industries from agriculture, high- tech, to building, consultant, trading… Almost these companies came to Vietnam several times to find Vietnamese partners. For this time, we had meeting with about 60 partners in Hanoi and about 70 partners in Ho Chi Minh City. Until now, GTAI has brought about 50 German companies to visit Vietnam and find out the market here. All those companies show their interest to explore and expand to Vietnam’s market.
Which industries in Vietnam have attracted German companies?
There are many potential industries in Vietnam that German businesses can find opportunities. In my opinion, high-tech industry will be more attractive for German companies doing invest in Vietnam in the years to come. For instance, we have German high- tech agriculture companies in this trip that wish to find Vietnamese partner to transfer technology. Currently, Germany imports electronic products, garment and textile products, shoes, food, agriculture products from Vietnam. And in the near future, I believe that there will be more Vietnam high-tech products to export to Germany.
Could you share more about Eastern Germany where Vietnamese businesses can promote cooperation?
Eastern Germany has good investment incentives programs providing support for foreign investors.
Eastern Germany has grown faster than all of the transitioning economies of Central and Eastern Europe. The inpidual federal states are also better economically placed than all other former socialist states in the region, with international investment in Eastern Germany for the period 2003-2013 more than doubling.
Eastern Germany is also home to a small group of supraregional industry clusters with a presence in more than one state, they range from the region’s thriving clean technology sector and its resurgent automotive industry to new chemicals synthetics technologies.
Industry cluster is the model of success in Eastern Germany. These clusters gather many SMEs in Germany together and help each other developing.
I think Vietnam can be successful with this industry cluster model.
Germany Trade & Invest (GTAI) is the economic development agency of Germany. It promotes Germany as a business and technology location and supports companies based in Germany with global market information. It has set up an office in Hanoi in 2008 to support Vietnamese companies operating in Germany.