German President Frank-Walter Steinmeier Meets with German Business Leaders in Vietnam

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Ho Chi Minh City, 24 January 2024 – The German Business Association (GBA) and the German Chamber of Commerce and Industry in Vietnam (AHK Vietnam) welcomed the President of the Federal Republic of Germany Frank-Walter Steinmeier, a delegation of high-ranking German officials, including Germany’s Minister of Labour and Social Affairs Mr. Hubertus Heil, as well as leading German investors at a Business Roundtable in Ho Chi Minh City. The event was part of the President’s two-day state visit to Vietnam, which aimed to enhance the political and economic relations between the two countries.

The chairman of the Ho Chi Minh City People’s Committee Mr. Phan Van Mai and the event hosts cordially welcomed President Steinmeier and his delegates at the Deutsches Haus Ho Chi Minh City – a symbol of the strategic partnership and friendship between Germany and Vietnam.

At the Business roundtable, the President, officials, and the business delegation had an insightful dialogue with members of the German Business Association Vietnam.

After a warm welcome by GBA’s Co-Chairman Mr. Elmar Dutt, President Steinmeier affirmed in his speech to business leaders that Vietnam is a reliable economic partner and that the German government encourages German companies to invest in Vietnam. Following the president’s speech, and to open the dialogue, the Parliamentary State Secretary Mr. Michael Kellner encouraged the present company leaders to share their feedback and recommendations on the business environment of Vietnam, especially in the context of foreign direct investment. Covering various topics, such as education, renewable energy, pharmaceuticals, healthcare, manufacturing, aerospace, machinery, infrastructure, tourism, legal framework, and sustainability, the president and his delegation learned about the advantages as well as challenges of doing business in Vietnam.

Mr. Elmar Dutt in his welcome speech, said: “German companies are committed to sustainable investments in Vietnam, with a clear long-term strategy. The GBA encourages more investments from Germany into Vietnam, and together with its partner AHK Vietnam will continue to be the nexus for German business in Vietnam.”

About German-Vietnam Business and Trade Relations
The economic ties between Germany and Vietnam have strengthened considerably in recent years. As of December 31, 2023, there are 464 valid German foreign direct investment (FDI) projects in Vietnam with o total registered capital of 2.74 billion USD, of Which in 2023 alone, there will be an additional 33 projects. The state visit of President Frank-Walter Steinmeier to Vietnam is expected to further boost the bilateral cooperation and create new opportunities for trade and investment between the two countries.

About the German Business Association (GBA)
The GBA has been one of the first foreign business associations in Vietnam, starting its activities in 1995. For 30 years, the GBA has been the focal point of German business life, culture, and values in Vietnam. It has helped German businesses in developing their operations, has advised on a wide-ranging topic and created opportunities for business and social exchange across Vietnam.
Currently, the GBA has nearly 400 members and corporate partners, a reflection of the opportunities and dynamics of the Vietnamese market. It is one of the largest foreign business associations in Vietnam and a highly respected counterpart in the local community. In addition, the GBA was one of the founding members of EuroCham Vietnam, a partnership that represents the pan-European activities and interests in Vietnam.

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