Today: 27/02/2024 10:27:35 (GMT+7)
THE SPECIALIZED PAGE OF BAC GIANG NEWSPAPER ONLINE

Most of surveyed German firms plan expansion in Vietnam

About 91% of German companies are planning to expand their investment in Vietnam, according to a survey conducted by the Delegation of German Industry and Commerce (AHK) in Vietnam.

The AHK World Business Outlook Spring 2023 – Vietnam Focus shows that 40% of the surveyed firms also have plans to increase their workforce in the next 12 months.

Surveyed German firms, expansion in Vietnam, increase their workforce, world economy, supply chains

Despite challenges such as inflation, uncertainties of the world economy, and the increasing political influence on supply chains, Vietnam is expected to experience a resurgence in its economic growth in the medium-term.

Despite challenges such as inflation, uncertainties of the world economy, and the increasing political influence on supply chains, Vietnam is expected to experience a resurgence in its economic growth in the medium-term.

The growth will be fueled by various factors, including Free Trade Agreements (FTAs), the China Plus One strategy, the global trend of shifting and diversifying manufacturing supply chains towards competitive hubs in Southeast Asia, and the inflow of green investments, the report said.

About 500 German companies have invested some 2.9 billion USD in the Southeast Asian nation so far, mainly in its southern and northern regions that make up 60% and 22% of the total capital, respectively. They have generated about 50,000 jobs, thus significantly contributing to the bilateral ties.

As of July 20, newly-registered capital, additional investment, capital contribution and share purchase by German investors in Vietnam amounted to nearly 197 million USD, with 21 new projects, mainly in the construction and building material sector.

To lure more foreign investors, the AHK suggested the Vietnamese Government further streamline administrative procedures and invest more in infrastructure development, particularly in transport and logistics.

Furthermore, enhancing the competitiveness of domestic enterprises, spurring the development of industrial clusters, providing intensive personnel training, observing international standards, and ensuring stable electricity supply for sustainable development are crucial solutions to raise Vietnam's attractiveness, it said.

Big economic growth fueled by expansion of production and trade
Strong recovery in local production and trade activities is projected to continue to fuel the Vietnamese economy, after it harvested quite positive growth in 2022, with an expected position of top in Southeast Asian region in economic performance for the new year.
 
Vietnam's EV maker Vinfast files for US IPO to fuel global expansion
Vietnam's electric-vehicle maker VinFast said on Tuesday it has filed for an initial public offering (IPO) in the United States to list on the Nasdaq under ticker symbol "VFS" to fund its expansion with a planned plant in North Carolina.
 
PM welcomes Adidas's expansion plan in Vietnam
The Vietnamese Government and Prime Minister himself will create favourable conditions for Adidas to expand its operations in Vietnam in the spirit of harmonising interests and sharing risks, PM Pham Minh Chinh told CEO of Adidas Kasper Rorsted during a reception in Hanoi on October 31 following their phone talks in September 2021 and March 2022.
 
Vietnam eyes expansion of eligible countries for e-visa issuance
The government has sought recommendations from the tourism, foreign affairs and public security ministries for expanding the list of countries whose nationals can get visas online.
 
Vietnam welcomes RoK firms’ investment expansion: Deputy PM
The Vietnamese Government is willing to create favourable conditions for foreign enterprises, including those from the Republic of Korea (RoK), to expand investment and business in Vietnam, Deputy Prime Minister Pham Binh Minh told Chairman of Daewoo E&C Group Jung Won-ju.
 

Source: VNA

Surveyed German firms, expansion in Vietnam, increase their workforce, world economy, supply chains
 
New comment has just been added. Click here
Sort:NewBest News