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| The Thai Binh Provincial People's Committee and the German Chamber of Commerce and Industry in Vietnam sign a memorandum of understanding on investment cooperation at the seminar. (Photo: NDO) |
Chairman of the Thai Binh Provincial People's Committee Nguyen Khac Than said that the presence of representatives of the German Chamber of Industry and Commerce in Vietnam; the Association of German Businesses in Vietnam; representative of the Ministry of Planning and Investment; the Department of Foreign Affairs and more than 60 German organizations and businesses at the seminar, showed the special interest from Germany in the cooperation and investment environment in Thai Binh province.
Thai Binh province always identifies internal resources as a decisive, fundamental and long-term factor and the external resources an important and breakthrough factor. Therefore, attracting investment into Thai Binh is a top task of local leaders, with the view that successful investors in the area are the driving force of the province's development.
At the seminar, leaders of the Provincial People's Committee briefly informed German investors about the potential and strengths of the locality. The province is giving priority to attracting investment in the processing and manufacturing industry; and electronics-semiconductors.
The provincial authority always accompanies businesses, has transparent institutions and preferential policies to encourage maximum investment. As of June 2023, Thai Binh attracted 121 valid FDI projects, with a total registered investment capital of more than USD2.08 billion, including 1 project worth USD620,000 from Germany.
At the seminar, representatives of the German Chamber of Commerce and Industry in Vietnam and the Association of German Businesses in Vietnam affirmed that Vietnam is currently the top priority investment destination of German businesses.
Through research, the German side found that Thai Binh has a lot of potential for cooperation such as vocational training, material supply chain, finance and renewable energy.
What German investors are interested in is a more open investment environment, and ensuring of energy security and environmental protection. It is necessary to simplify and digitize administrative procedures, especially in terms of customs and tax procedures, to create more attractiveness for investors.
At the end of the seminar, the Provincial People's Committee, the German Chamber of Commerce and Industry in Vietnam; Thai Binh Hung Thinh Joint Stock Company and Roding Mobility Company (Germany) agreed to sign a Memorandum of Understanding on investment cooperation./.