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PM calls for greater German investment

Released at: 12:23, 07/07/2017

PM calls for greater German investment

Prime Minister Nguyen Xuan Phuc visits a gas turbine manufacturing factory of Siemens Group (Photo: VNA)

Germany is a prioritized partner of Vietnam in the fourth industrial revolution, PM tells gathering in Berlin.

by Nguyen Quoc

Prime Minister Nguyen Xuan Phuc, who is in Germany for an official visit and to attend the G20 summit, held a dialogue in Berlin on July 6 with leading German businesses operating in fields such as information technology, finance, healthcare, agriculture, and hi-tech industry, according to a report from the Vietnam News Agency.

The PM told them that Vietnam is a dynamic economy with rapid economic growth, stable macro-economic conditions, and a favorable business environment, adding that it is shifting its economy to high added value sectors and has joined many next-generation free trade agreements.

He stressed that Vietnam has abundant and young human resources who are quick to master the latest technologies, and that the country is among the Top 10 in Asia-Pacific and the Top 30 in the world in software outsourcing.

Germany is a prioritized partner of Vietnam in the fourth industrial revolution, he went on, noting that many German businesses are operating effectively in the country and have contributed to raising two-way trade to over $9 billion.

Therefore, Vietnam and Germany could promote cooperation in such potential areas as trade, investment, training, energy, tourism, and information technology.

German firms expressed their desire to cooperate with Vietnam in the fields of healthcare, education, training, hi-tech agriculture, renewable energy, and smart power-saving solutions.

Mr. Cedrik Neike from the Siemens Group said his company is keen to partner with Vietnam in the provision of green energy and healthcare services.

Siemens and other German enterprises also want to be part of Ho Chi Minh City’s urban railway line and the manufacturing of gas-fueled turbines in Vietnam, he added.

Meanwhile, Chief Financial Officer of Bayer Healthcare Pharma Mr. Julio Triana said the company has been present in Vietnam for 20 years and hopes to make stronger investments in healthcare and agriculture.

Chief Executive Officer of Philips Lighting DACH Mr. Karsten Vierke affirmed his company’s wish to invest in human resources training and in developing smart cities using the company’s latest technology, which can save up to 65 per cent of electricity use.

PM Phuc hailed this idea and said he hoped Philips Lighting DACH would soon cooperate with Vietnam to implement projects in major cities.

The PM also welcomed German investor Deustche Bank to invest in the fields of finance and stock markets.

He appealed for German investment in improving healthcare services in Vietnam, including the production of high-quality medicines at reasonable prices.

Answering a query on Vietnam’s long-term policy to develop renewable energy, the PM said he has signed an important decision to adjust the price of solar electricity to 9.35 US cents per kWh.

Vietnam boasts huge potential in renewable energy and hopes that German investors will consider investment in the country, he said.

On the same day, PM Phuc visited a gas turbine manufacturing factory of the Siemens Group, which has been present in Vietnam since 1979 and has participated in many important infrastructure projects and other fields such as electricity, mechanical engineering, and healthcare equipment production.

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