Most German companies operating in Viet Nam are satisfied with the favourable investment climate, accommodating economic laws and great human resources potential.
That was the message from the chief representative of the German Chamber of Commerce and Industry in Viet Nam, Jan Noether, during a seminar on Vietnamese economics held in Frankfurt, Germany, on Monday.
Speaking at the event, the Vietnamese Consulate General in Frankfurt, Nguyen Huu Trang, and the Secretary of State for European Affairs of the State of Hessen, Nicola Beer, said that German business operations were appreciated in Viet Nam and announced activities for "Viet Nam Year in Germany".
They called for German companies to bring advanced technologies and management models to Viet Nam, a market with a huge potential.
The event attracted the participation of 100 representatives from the Hessian Ministry of Economics, German businesses in Viet Nam, and an investment promotion delegation from Viet Nam's southern province of Binh Duong.
Bilateral trade between Viet Nam and Germany is expected to reach US$5-5.1 billion this year, up 9-11 per cent from 2009's total of $4.6 billion, according to the Vietnamese trade office in Germany.
Vietnamese exports are predicted to account for $3.5-3.6 billion, while German exports another $1.5 billion.
Despite last year's economic crisis, which caused trade to decline by around 8 per cent, German companies licensed 15 investment projects in Viet Nam, worth a combined $112 million, an increase of 2 per cent over 2008.
With 140 projects totalling $778 million, Germany currently ranks 22nd out of 90 countries and territories with investments in Viet Nam. Major German businesses in the country include Metro, Siemens, DeutscheBank and Allianz./.