Vietnam – future market of Bremen’s economy

10:28 | 22/05/2017 MUTRAP Corner

On May 17th, Germany’s Bremen State held a conference titled “Vietnam – future market of Bremen’s economy”.  

germanys bremen state seeks stronger economic ties with vietnam
At the conference, delegates discuss about investment opportunities in Vietnam - Photo: baovietduc.de

The event saw attendance of experts and representatives from Bremen State’s Ministry of Economy, Labour and Port, and Chamber of Commerce and Industry, as well as about 50 enterprises from the state and neighboring areas. They spoke highly of Vietnam’s infrastructure, human resources and investment support.

Particularly, Bremen’s economic experts highlighted the northern port city of Hai Phong as an attractive investment destination in Vietnam thanks to its favourable transportation with a highway system linking with Hanoi, airports and industrial parks. They said Hai Phong and Bremen also share many similarities.

germanys bremen state seeks stronger economic ties with vietnam
Vietnamese Ambassador to Germany Doan Xuan Hung addresses the conference - Photo: baovietduc.de

Businesses’ queries on administrative procedure and non-official fees were thoroughly answered, which gave more trust to Bremen’s investors. The experts also pointed out a number of Vietnam’s weaknesses such as poor capacity in investment promotion.

Addressing the event, Vietnamese Ambassador to Germany Doan Xuan Hung updated the participants on the political and economic situation of Vietnam as well as the Vietnam-Germany partnership in economy and trade.

germanys bremen state seeks stronger economic ties with vietnam
Ambassador Doan Xuan Hung shares about the potential and investment opportunities in Vietnam - Photo: baovietduc.de

He said economic and trade cooperation between the two countries has yet to meet potential as two-way trade reached only 10 billion USD, accounting for under 0.4 percent of Germany’s foreign trade revenue, and German investment in Vietnam was just 1.4 billion USD. The ambassador also appreciated the determination of Bremen state’s efforts to promote economic ties with Vietnam.

In November 2016, Bremen Senator of Economic Affairs Martin Gunthner also led a delegation of 30 local enterprises to Vietnam to seek partnership opportunities.

Bremen has also planned to launch its representative office in Vietnam.

Minh Quang