Germany among top trade partners
VGP – Germany is one of Viet Nam’s top trade partners in the Europe, with the two-way trade value reaching US$7.7 billion in 2013, up 18% against the previous year.
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The European country had pledged to pour US$1.25 billion in 232 projects, ranking 22 among 101 countries and territories investing in Viet Nam.
Among Vietnamese localities, Ho Chi Minh City was the most attractive destination for German businesses, luring some 93 projects worth more than US$234 million.
German investment came to a wide range of sectors including manufacturing, production, water, electric and gas distribution, retail and wholesale, agro-forestry and fisheries, wastewater treatment, finance and banking, insurance and science and technology.
Viet Nam is home to Germany’s multinational companies like Siemens, Mercedes-Benz, Bilfinger, Bosch, B.Braun, Messer, Deutsche Bank, and Allianz among others.
Both countries have signed agreements on avoidance of double taxation, investment encouragement and protection, navigation, and aviation.
Germany supports the EU to recognize Viet Nam’s market economy status and step up Viet Nam-EU free trade agreement talks in a bid to broaden trade and economic linkages between the two countries.
In terms of development assistance, Germany has granted over US$1.5 billion in official development assistance for Viet Nam since 1990.
By Huong Giang
