PM holds dialogue with leading German businesses

PM Nguyen Xuan Phuc (2nd from right) speaks at the dialogue

At the dialogue, the PM informed about Vietnam's attractive investment destinations and said that Vietnam is a dynamic economy with rapid growth, stable macro-economy and favourable business environment, adding that the country is now shifting economic growth to high-added value sectors, and has also joined many new-generation free trade agreements.

Stressing that Germany is one of the prioritised partners of Vietnam in the fourth industrial revolution, PM Phuc noted many German businesses are operating effectively in Vietnam and have contributed to increasing bilateral trade to over US$9 billion. He went on to say that Vietnam has abundant and youthful human resources, who are quick to master the latest technologies. The country is among the top 10 in Asia-Pacific and top 30 in the globe in terms of software outsourcing.

Therefore, Vietnam and Germany should promote cooperation in such arenas of potential as trade, investment, training, energy, tourism, and information technology, the PM suggested.

At the dialogue, the German firms expressed their wish to cooperate with Vietnam in the fields of healthcare, education, training, hi-tech agriculture, renewable energy, and smart power-saving solutions. The Vietnamese PM directly answered and replied each issue raised by German businesses and received applauses from the investors.

Cedrik Neike from Siemens said his company is keen to partner with Vietnam in the provision of green energy and healthcare services. Siemens and other German firms also want to join the underground project in Ho Chi Minh City, as well as the manufacturing of gas-fuelled turbines in Vietnam, he added.

Chief financial officer of Bayer Healthcare Pharma Julio Triana, meanwhile said the company has been present in Vietnam for 20 years and hopes to make stronger investments in healthcare and agriculture.

Regarding development of smart cities, Chief executive officer of Philips Lighting DACH Karsten Vierke affirmed his company’s wish to invest in human resources training and to develop smart cities using the company’s latest technology which can save up to 65 percent of electricity.

Hailing this idea, Prime Minister Nguyen Xuan Phuc expressed his hope that Philips Lighting DACH will cooperate with Vietnam to implement its project in major cities.

Photo: VGP

The PM also welcomed the German investor Deustche Bank to invest in the field of finance and stock markets.

He appealed for German investment in improving the healthcare services in Vietnam, including the production of high-quality medicines at reasonable prices.

Talking about Vietnam’s long-term policy to develop renewable energy, the PM said he has signed an important decision to adjust the price of solar power electricity to 9.35 cent per one kWh. Vietnam boasts huge potential in renewable energy and hopes German investors will consider investment in the country within this sector, he said.

After the meeting with German businesses, on the same day, PM Phuc visited a gas turbine manufacturing factory of Siemens Group – which has been present in Vietnam since 1979, and participated in many important infrastructure projects and other fields such as electricity, mechanical engineering and healthcare equipment production.