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Oct 03, 2023 / 07:23

Lower Saxony wants to invest in energy transition in Vietnam

Energy is one of the key pillars in Vietnam-Germany relations over the past decades with a series of projects and programs operated by The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) – the German Development Agency.

A delegation of nearly 50 German companies led by Minister-President of the German state of Lower SaxonyStephan Weil, has expressed their interest in renewable energy and energy efficiency, the field in which the Federal Government of Germany has cooperated with Vietnam for years. 

Vietnam's Prime Minister Pham Minh Chinh (R) and Minister-President of the German state of Lower SaxonyStephan Weil, in Hanoi on October 1. Photo: VGP 

Other fields of potential cooperation that the Lower Saxony’s government and businesses want to focus on include vocational training, skilled labor migration, tourism, digitalization, and Industry 4.0.

The issues were stated by Prime Minister-President Stephan Weil at the meeting with Vietnam’s Prime Minister Pham Minh Chinh in Hanoi today [Oct 2].

The program will include discussions on politics and the economy as well as company visits and networking opportunities during the visit from October 1 to 7, with two stops in Hanoi and Ho Chi Minh City.

An exchange with young Vietnamese will focus on the energy transition in Vietnam: “The 3,000-kilometer coastline offers excellent conditions for wind energy. The country is also predestined for solar energy,” Weil shared.

Talking with German media, Stephan Weil said: “I am excited about our trip and am pleased about the strong interest in the Lower Saxony economy.” Vietnam is an important partner of the European Union in Southeast Asia and an important destination for German companies to diversify their investment portfolios.

With regard to the shortage of skilled workers, Vietnam is also interested in Lower Saxony’s training programs. “We want to present Lower Saxony as an attractive destination for young Vietnamese people interested in training or working in Germany,” said Weil.

Prime Minister Pham Minh Chinh welcomed the delegation and encouraged Lower Saxony’s firms to extend their investment in the fields that Vietnam offers favorable conditions.

Within the European Union, Germany is Vietnam’s largest trade partner, with a volume of $19 billion in 2022, with Germany importing goods worth $15.4 billion. Vietnam is the leading trade partner of Germany in ASEAN.

Vietnam ranked 30th out of Lower Saxony’s top 20 foreign trade partners in 2022, with a total trade volume of about US$1.5 billion. Lower Saxony imported nearly $183 million and exported nearly $1.36 billion.

Notably, GIZE-supported Renewable Energy and Energy Efficiency (4E) supports the Vietnamese Ministry of Industry and Trade in planning renewable energy development and promoting efficient use of power.