Hanoi (VNA) – A businessroundtable between Vietnam and Germany was held in Hanoi on November 13 underthe co-chair of Prime Minister Pham Minh Chinh and German Chancellor Olaf Scholz.

In his remarks, PM Chinh said sincediplomatic ties were set up nearly 50 years ago, Vietnam and Germany havedeveloped a strategic partnership with strides and outstanding milestones recordedin multiple areas.

Germany is currently the biggesttrading partner of Vietnam in Europe. It ranks 18th among the 141countries and territories and fourth among EU members investing in theSoutheast Asian nation with 437 valid projects worth 2.34 billion USD atpresent, rising 2.87-fold from 2010. Its projects concentrate on processing -manufacturing (52.1%) and energy (27.8%) industries.

The outcomes of economic ties areencouraging but have yet to match with their potential, he said, noting that thereremains much room and many favourable factors for the two countries’cooperation.
  Suggesting some orientations forbusiness partnerships, PM Chinh asked German enterprises and business associationsto strongly advocate the German parliament’s ratification of the EU - Vietnam InvestmentProtection Agreement (EVIPA) to create a framework for long-term and stableeconomic, trade, and investment links.

He also called on the Government andenterprises of Germany to continue assisting Vietnam with technology transfer,research and development, building of cooperation agreements on human resourcetraining, and digital transformation in Vietnamese firms.

As Germany defined Vietnam as a global partner in its developmentcooperation strategy by 2030, Vietnam hopes for Germany’s help in perfectingregulations and policies to access and mobilise green financial resources,especially from the G7 members and international financial institutions,thereby helping build a green economy, promote green growth and sustainabledevelopment, respond to climate change, and realise COP26 commitments, he emphasised.

The host leader encouraged German companiesto switch their investment to Vietnam, a safe and attractive investmentdestination with political stability, competitive costs, an abundant workforce,and an optimal business climate.

Heexpressed his belief that with efforts and resolve by both sides and their people's strong friendship, investment and trade partnerships will remain an importantpillar in the bilateral relations and also a driving force for the two countries’strategic partnership to reach a new height.

The Vietnamese Government pledges tocreate the best possible conditions for German enterprises to operate fruitfullyand sustainably in Vietnam, he stressed, considering their successes as Vietnam’s.

Addressing the event, Chancellor Scholznoted that to many German and European companies, Vietnam is a highly importantdestination as it is part of the trading and material supply networks of Asia,and its economy boasts impressive immunity during the pandemic.

He held that the global economy issuccessful only when countries manage to optimise all of their capabilities andpotential, which is true to Vietnam - a country with abundant material sourcesand a skilled workforce.

The Chancellor voiced his delight at the enforcementof the EU - Vietnam Free Trade Agreement (EVFTA), which he viewed as a basisfor the two economies to recover and develop, and build up mutual trust ineconomic cooperation.

The German leader also gave somecooperation suggestions to the countries’ businesses, adding that the Germandelegation also includes many enterprises wishing to seek partners in economy,infrastructure, and energy cooperation.

Hehighlighted his hope that businesses of Vietnam and Germany will join ineconomic partnerships so that the two countries will develop together.

At the event, participating firms shared their development process andcontributions to their respective countries’ economies. They also presentedtheir demand regarding the Vietnamese and German markets.

Afterthe business roundtable, Chancellor Scholz attended a banquet hosted by PMChinh in honour of the German delegation./.