German enterprises have invested in Vietnam 441 FDI projects, with a total registered capital of 2.37 billion USD, ranking 18th out of 141 countries and territories investing in Vietnam.

Signing the Minutes of the Second Session of the Joint Committee on Vietnam-Germany Economic Cooperation in Berlin.

The second meeting of the Vietnam - Germany Joint Committee on Economic Cooperation was held in Berlin (Germany) under the co-chair of Deputy Minister of Industry and Trade Phan Thi Thang and Secretary of State of the Ministry of Economy and Gas Protection. Post-Federal Republic of Germany Udo Philipp.

Attending the meeting were representatives of Vietnamese enterprises, including: Vietnam Pharmaceutical Corporation, Vietinbank, Vietnam Airlines, Becamex IDC, FPT, T&T Group... and German enterprises, such as Siemens AG, Siemens Energy, Enertrag, Adidas, Drägerwerk, HDI Global...

At this meeting, the two sides exchanged and assessed an overview of bilateral economic relations as well as discussed cooperation contents in areas of common interest such as energy, energy security, energy transformation, and energy transfer. change energy, industry 4.0, remove trade barriers as well as strengthen promotion activities, including services and logistics to make the most of the benefits brought from the EVFTA Agreement.

Minutes of the second meeting of the Joint Committee on Economic Cooperation between Vietnam and Germany were signed by both parties. The third meeting of the two countries' Joint Committees is expected to take place in 2025.

Germany is currently Vietnam's largest trading partner in the European Union (EU), accounting for 20% of our country's exports to the EU and is also an important transshipment gateway for Vietnamese goods to other markets. in Europe.

Vietnam is ranked 33rd out of 232 countries exporting goods to the German market, 49th out of 206 countries importing goods from Germany.

Bilateral trade continues to be accelerated thanks to the Vietnam - EU Bilateral Free Trade Agreement (EVFTA).

By the end of December 2022, trade turnover between Vietnam and Germany reached nearly 12.6 billion USD, up 12.1% over the same period, in which, exports from Vietnam reached nearly 9 billion USD, up 23.1%, accounting for more than 71% of import-export value with the main export items being machinery and equipment, telephones, shoes, textiles, coffee, seafood...

Vietnam's imports reached more than $3.6 billion, focusing on imported goods such as machinery, equipment, pharmaceuticals, chemicals, auto parts and components...

Regarding investment, by the end of 2022, Germany has 441 direct investment projects in Vietnam with a total registered capital of 2.37 billion USD, ranking 18th out of 141 countries and territories investing in Vietnam.

Over three-quarters of projects and two-thirds of German investment in Vietnam focus on processing, manufacturing, technical services, information and communication, banking, and insurance industries.

Some German multinational corporations have invested in Vietnam such as: Daimler - Chrysler (manufacturing Mercedes - Benz cars), B.Braun (manufacturing medical equipment), Messer (separating liquefied gases for recovery). metallurgical service), Siemens...