German businesses interested in energy and agriculture in Vietnam
(VOVWORLD) - In a statement released Monday the German Business Association in Vietnam (GBA) said agriculture, food, digitalization, and innovative solutions in production, logistics, education, healthcare, and renewable energy, particularly solar and wind energy are of German investors’ interest.
 The GBA member businesses participate in the regular meeting for December 2023. (Photo: sggp.org.vn)
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The GBA says that in the past 11 months Germany has solidified its presence in Vietnam by initiating 28 new Foreign Direct Investment projects with a total registered value of 342 million USD, representing a 410% annual growth.
As of October, there were 459 German FDI projects in Vietnam with a total value of 2.5 billion USD. The Association acquired 70 new members and corporate partners last year.
GBA President Torben Minko said the growth of investments demonstrates the confidence of German companies in the Vietnamese market and in Vietnam as a promising destination for those seeking to diversify their interests in Asia.
500 German companies are now operating in Vietnam or cooperating with companies in Vietnam.
A recent survey by the Delegation of the German Industry and Commerce in Vietnam (AHK Vietnam) showed that 91% of German companies are planning to expand their investment in Vietnam.
GBA, one of the first foreign business associations in Vietnam, began its activities in 1995.
After 28 years, with 370 members and 15 corporate partners, it is one of the largest foreign business associations in Vietnam.
GBA was one of the founding members of EuroCham Vietnam.