German newspaper highly values investment potientials in Viet Nam

Viet Nam is considered a new investment destination for a wide range of foreign investors in general and German enterprises in particular, according to the Germany-based newspaper Focus.

In a recent article, the newspaper quoted Horst Geicke, an investor and Chairman of the Deutsches Haus (German House) in Ho Chi Minh City, as saying that Viet Nam is considered a new investment destination for a wide range of foreign investors in general and German enterprises in particular.

In Asia, in addition to Singapore, only Viet Nam has signed a free trade agreement with the European Union (EVFTA).

A majority of German businessess select Viet Nam to start their second factories in Asia.

So far, Viet Nam is speeding up business operation in electronics and other sectors.

German businesses targeting the Southeast Asian markets includes the automobile spare parts suppliers Brose and ZF, equipment manufacturer Kärcher, building materials provider Knauff, and consumer goods company Henkel.

The article said Viet Nam posted nearly US$27.72 billion in total foreign direct investment and US$ 22.4 billion in disbursed amount last year.

These figures significantly contributed to Viet Nam's impressive GDP growth of over 8 percent in 2022 and an average of 5.9 percent over the past 13 years./.