Photo for illustration. (Source:

German enterprises in Vietnam believe in the recovery and development of enterprises, but are more cautious about the growth of the economy, according to the AHK World Business Outlook 2021, released by the Delegate of the German Chamber of Commerce and Industry in Vietnam.

Although the rate of German firms optimistic about Vietnam's economic recovery was 33%, lower than the figure at the beginning of this year, 55% of German firms expected their positive development in 2022.

Up to 83% of the respondents said they would continue to invest in expanding production or upgrading their facilities in the next 12 months. Thirty-three percent of the respondents are planning to recruit more workers to serve production and business in Vietnam.

The results also show that the challenges and difficulties caused by the prolonged COVID-19 pandemic have restrained the development momentum of German enterprises in Vietnam.

Travel restrictions and issues relating to supply chains and logistics were major challenges to German companies’ growth, according to the report.

The survey pointed out that businesses are facing other challenges such as canceled orders or a sharp drop in customer demand.

Other issues regarding economic policy, financial approach, legal safety and infrastructure, plus border closures, consumption decline and the cancellation of exhibitions and trade events due to COVID-19, have also significantly affected their business./.