German firms encouraged to invest in Vietnam

Prime Minister Pham Minh Chinh and German President Frank-Walter Steinmeier agreed to encourage German businesses to invest in Vietnam, particularly in fields of Germany’s strengths, such as energy, railways, medical equipment, pharmaceuticals, and infrastructure, during their meeting in Hanoi on January 24.

They also reached consensus on stepping up cooperation in high-quality human resources training and development, and speeding up the building of cooperative mechanisms and frameworks in vocational training.

The Prime Minister also said that Vietnam is focusing on strategic breakthroughs by completing institutions, developing infrastructure, promoting human resources, and restructuring the national economy in association with renovating the growth model and giving priority to boosting the digital economy and digital transformation, green growth, and the circular economy.

He proposed that Germany soon ratify the EU-Vietnam Investment Protection Agreement (EUVIPA), continue to cooperate with Vietnam to effectively implement the Just Energy Transition Partnership (JETP), in which Germany is a participant, so that Vietnam can achieve its emission reductions goals committed to at the 26th UN Climate Change Conference (COP26), and in the implementation of development cooperation projects funded by Germany, with priority given to infrastructure construction, sustainable development, and renewable energy.

(Source: https://en.vneconomy.vn/)