The figure was provided by the German Chamber of Commerce and Industry (GIC/AHK Vietnam) on June 20th during its announcement of a survey on German businesses’ assessments and aspirations in Vietnam and in the world called “AHK World Business Outlook 2019”.

Carried out in April, the survey collected the ideas of German investors and businesses in industry and construction, service and trade.

The survey showed that German businesses have positive look with their development as well as the growth prospect for 2020. In particular, 77% of German businesses in Vietnam report their better situation this year while the figure in 2018 was only 56% and it is also much higher figure than the average index in Southeast Asian nations at 61%.

At the announcement of the survey results (Photo:

The year 2018 was considered to be a successful year for Vietnam's economy, shown by the figures of positive growth such as GDP of 7.1%, FDI reaching USD13 billion, total import-export turnover of a record of USD465 billion, and a trade surplus of more than USD7 billion.

The Vietnamese Government expressed goodwill in supporting and facilitating foreign investors and businesses. Additionally, a series of free trade agreements that Vietnam participated in, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or the European Union − Vietnam Free Trade Agreement (EVFTA), play as factors promoting the Vietnam's economic development. They have also supported and created favorable conditions for FDI enterprises, including German businesses, to develop investment in Vietnam.

The survey results also revealed that, compared to other countries in the region, Vietnam always receives special attention from German businesses and is a country attracting investment in the region. As many as 59% of German investors in Vietnam intend to recruit more personnel in 2019-2020 to serve the investment expansion.

The EVFTA is also expected by German businesses to be a force to complete the legal and economic policy framework in Vietnam.

Mr. Marko Walde, Chief Representative of the German Chamber of Commerce and Industry in Vietnam said that Vietnam is one of Southeast Asian countries that many German businesses have chosen as a destination in their investment plan overseas. Meanwhile, a majority of German businesses with factories in Vietnam expressed their intention to increase investment capital.

“German businesses do not bring billions of USD of investment to Vietnam, but we all invest in the long term from 25-30 years, with big expenditures on the most modern machines and equipment and wishing to participate deeply in Vietnam's economy,” he said.

He added that German businesses hoped for Vietnam’s bigger investment in vocational training, for providing highly skilled labour force for the businesses./.

Compiled by BTA