German firms have expressed their optimism about Vietnam’s economy in both mid-and long terms in a recent survey released by the Association of German Chambers of Industry and Commerce (DIHK) on May 12.
HCM City (VNA) – German firms have expressedtheir optimism about Vietnam’s economy in both mid-and long terms in a recentsurvey released by the Association of German Chambers of Industry and Commerce(DIHK) on May 12.
According to the survey, 66 percent of respondentssaid Vietnam’s economy will see significant improvements this year, as comparedwith only 46 percent recorded last year.
One third of them held that the economy will recoverin the first half of this year, and 30 percent believed that the recovery willbegin in 2022.
More than half of the firms said their business inVietnam is running smoothly, while only 11 percent have experienced lowerrevenue.
Besides, 47 percent of the enterprises intend toexpand their business in the country and half of them will recruit moreemployees in 2021 and 2022. Notably, 67 percent expect to diversify theirsupply chains by seeking new suppliers, change logistics goods transportation routesor increase their stockpile.
However, the survey unveiled that a shortage ofskilled labourers and declining consumption have remained the biggestchallenges for German firms in Vietnam, with up to 42 percent of them said theyare meeting difficulties in employing high quality personnel, up from 18percent last year.
Other issues regarding economic policy, financialapproach, legal safety and infrastructure, plus border closure, consumptiondecline and the cancellation of exhibitions and trade events due to COVID-19have also significantly affected their business.
The survey outcomes have demonstrated the efficiencyof the Vietnamese Government’s drastic policies and guidelines to fight thepandemic and reboot the national economy.
The Government has created optimal conditions forforeign investors and enterprises to operate in the country.
The implementation of the EU-Vietnam Free TradeAgreement (EVFTA) and the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) is expected to raise the country’s GDP by 3.2percent for 2021-2030./.
The Vietnam Farmers’ Union (VFU) and German Farmers’ Association (DBV) held a workshop in Hanoi on October 4 to share experience in developing value chains in agricultural production.
A pilot project of Germany on training Vietnamese nurses has proved effective, as heard a seminar reviewing the project recently held by the German Federal Ministry for Economic Affairs and Energy in Berlin.
Vietnamese Ambassador to Germany Nguyen Minh Vu on March 22 made a working visit to Erfurt city in German state of Thuringen within the framework of the programmed aimed at intensifying the relations between the country and the state.
Vietnam and Germany’s Sachsen-Anhalt State havegreat potential for cooperation in various fields such as renewable energy, vocational training, chemical production and machinery manufacturing, said Ambassador to Germany Nguyen Minh Vu.
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Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA) 
