Siemens CEO urges German firms to invest in Vietnam
CEO of German tech giant Siemens AG and Chairman of the Asia-Pacific Committee for German Business (APA) Joe Kaeser has called upon German firms to invest in Vietnam as part of efforts to diversify supply chains.
Hanoi (VNA) - CEO of German tech giant SiemensAG and Chairman of the Asia-Pacific Committeefor German Business (APA) Joe Kaeser has called upon German firms toinvest in Vietnam as part of efforts to diversify supply chains.
Speaking at an APA teleconference on October 19,Kaeser said that Asia, not just China, is an important investment destination.
He stressed that a number of multinational groups havepoured a great deal into Vietnam while Germany is also stepping up vocationaltraining in the country.
Enterprises, he said, could quickly seek businessopportunities in the country.
German Federal Minister for Economic Affairs andEnergy Peter Altmaier called on German firms in Asia to seek alternatives in diversifyingregional supply chains.
Germany supports globalisation and wants to diversifysupply chains, he said, adding that it needs to build greater resilience to futurecrises.
The APA conference was first held in 1986 with the aimof bolstering economic ties between Germany and the Asia-Pacific.
This year’s discussions focused on the economic toll fromCOVID-19, the modernisation of trade policy to ensure global supply chains, andthe digitalisation strategies in Asia and Europe./.
A conference introducing investment opportunities in Vietnam’s northern province of Vinh Phuc took place in Potsdam city of Germany’s Brandenburg state on August 28.
Vinh Phuc province recently held a seminar in Potsdam city of Germany’s Brandenburg state to introduce investment opportunities in this northern locality of Vietnam.
In 2011, leaders of Vietnam and Germany signed the Hanoi Joint Declaration, upgrading bilateral relations to a strategic partnership, creating a new impetus to promote cooperation between the two countries.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
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.
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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.
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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.
Siemens AG CEO Joe Kaeser (Photo: Getty Images) 
