Hanoi prioritizes a comprehensive trade partnership with Germany, especially cooperation in trade and technologies transfer, according to Nguyen Duc Chung, chairman of the Hanoi People’s Committee.
Overview of the meeting.
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Chung said the cooperation with German enterprises would help Hanoi address environmental issues, providing clean water for the locals, and improving the infrastructure.
The Duong River surface water plant, which was put into operation last October, is an example of the strong relation between Hanoi and German enterprises, Chung added.
With the EU – Vietnam Free Trade Agreement (EVFTA) expected to be signed soon, Hanoi and Vietnam in general are expected to become major markets for European partners, including Germany and serve as the gateway to ASEAN, Chung continued.
Chung pointed to three cooperation options between Hanoi and Germany in the coming time.
Firstly, Hanoi and Frankfurt are scheduled to sign a cooperation agreement in near future.
Secondly, Hanoi and Frankfurt Chamber of Commerce and Industry expect to jointly hold a trade and investment cooperation conference.
Thirdly, Hanoi hopes to cooperate with the Germany embassy in organizing cultural exchange events in Vietnam's capital city, so that enterprises and people of the two countries would enhance mutual understanding and search for business opportunities.
Germany's Deputy Head of Mission in Vietnam Wolfgang Manig said the German business community has great interest in Hanoi’s business and investment environments. Prior to the meeting, the delegation had visited Hoa Lac Hi-tech Park and some educational facilities in Hanoi.
On behalf of the delegation, member of the German parliament Mark Hauptmann said he is impressed with the significant transformation of Hanoi over the past few years.
Germany wants to expand and improve the economic relation with Vietnam, through cooperating with Hanoi and establishing a strategic economic partnership, Hauptmann added.
Hanoi could see Germany as a high potential and ambitious economic partner, while Germany could assist Hanoi in solutions and technologies in developing planning and development strategy.
With a population of nearly 10 million, Hanoi’s GRDP grew 7.61% and made up 19.6% of the country’s GDP in 2018, contributing 16.8% to state budget revenue.
During the 2016 – 2020 period, Hanoi focuses on improving infrastructure, training high quality human resources and pushing for administrative reform.
