However, he said two-way trade and investment remain modest, and German businesspeople have not gained good understanding of the Vietnamese market even though many want to invest in the country.
Several Vietnamese and German officials addressed the event, analyzing potentials of economic, trade and investment links and mentioned their governments’ measures to remove existing hindrances. They included Deputy Foreign Minister Bui Thanh Son and Deputy Minister of Industry and Trade Hoang Quoc Vuong on the Vietnamese side. German speakers were State Secretary at the German Federal Ministry for Economic Affairs and Energy Uwe Beckmeyer, and Director General for Economic Affairs and Sustainable Development under the Foreign Ministry Dieter Haller.
Officials of both sides appreciated an initiative to open a Germany-Vietnam trade office, toward the goal of lifting two-way trade to 20 billion USD in the next five years.
Participants discussed Vietnam’s competitiveness and ability to attract German small and medium-sized enterprises, saying that Vietnam and Germany could cooperate in mutually-beneficial and supplementary fields.
Economist Vo Tri Thanh said Vietnam is interested in developing small and medium-sized enterprises and hopes for further German assistance in the field.
Concluding the event, Ambassador Hung said the embassy will thoroughly consider recommendations, especially ways to boost bilateral ties to report to the government, ministries and agencies. He also pledged support for businesses in its capacity.
