MOU Signing Ceremony on the Investment Promotion between GBA & IPA Da Nang


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On the afternoon of June 23 in Da Nang city, in collaboration with the City People’s Committee, the Investment Promotion Agency (IPA Danang) held a seminar on promoting investment connection between Da Nang and Germany, with the participation of the Municipal People’s Committee Vice Chairman Mr. Ho Ky Minh, the Director of IPA Danang Mrs. Huynh Lien Phuong, together with the German business delegation led by the Co-Chairman of German Business Association (GBA) Mr. Elmar Dutt and GBA Vice-Chairman/Chief Representative of the German Industry and Commerce in Vietnam (AHK Vietnam) Mr. Marko Walde.

In the opening speech, the Vice Chairman Mr. Ho expressed his delight at fruitful results from the bilateral cooperation between Vietnam and Germany in such spheres as politics, economy, culture, education and science in recent years. Da Nang city is making strides towards turning itself into an eco-smart urban area, a hub for startups and innovation, and one of the most livable cities in Asia by 2045. In particular, the city will focus on developing itself on three main pillars: marine economy, hi-tech industry and high-quality services and tourism.

Mr. Elmar Dutt, GBA Co-Chairman shared: “Vietnam is one of the premier investment locations for German companies in light of a high dependency on other regions. Diversification is a key priority for German investors leading to an increasing interest of German companies to add Vietnam to their global footprint. Da Nang has become one of the attractive destinations for European and German’s investors. In recent years, German investment in Da Nang and neighboring localities has increased dramatically.”

In Germany, environmental protection and sustainable development continue to be a major public concern and a high policy priority. Therefore, the GBA Co-Chairman strongly supports the development orientation of Da Nang city towards a smart, green and eco-friendly city. The commitment of Vietnam and Danang towards green growth and decarbonization is unlocking further opportunities for German investors to contribute with their expertise to sustainable growth.

Mr. Marko Walde, GBA Vice-Chairman/Chief Representative of AHK Vietnam added that the European and German investors are interested in learning about the provincial investment potentials. If implemented, German projects in host countries will operate for 30-35 years. He suggested the city leaders should pay attention to enhancing the quality of vocational training for the local resources, especially in mechanical engineering and production technology. Mr. Walde expected to boost the cooperative relationships between two countries by providing supportive strategies consulting, and encouraging more local enterprises to participate in the annual Germany’s tradeshows.

On this occasion, to set a foundation for the strong cooperation and strategic initiatives aimed at bolstering the investment activities of Da Nang city, we are delighted to announce the signing of a Memorandum of Understanding between the Investment Promotion Agency (IPA Da Nang) and the German Business Association (GBA). We extend our gratitude to all parties involved for their dedication and vision in the economic growth of Central Vietnam.

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