This spirit of progress is mirrored in the growing strength of our bilateral ties. Over the past decades, our countries have developed a strong and dynamic partnership, marked by increasing economic cooperation and cultural exchange. As we approach the 50th anniversary of diplomatic relations in 2025, it is clear that our partnership is not just a reflection of our past successes but a foundation for an even more prosperous future.

German investment in Vietnam is expected to grow throughout 2024, bolstered by President Frank-Walter Steinmeier’s visit in January, where he was joined by a significant business delegation to explore opportunities for German companies. German businesses increasingly recognise Vietnam as a key destination, particularly in the fields of manufacturing, technology, and services. The combination of Germany’s technological expertise and Vietnam’s dynamic economy creates a powerful synergy that benefits both our countries.

At the same time, German companies are actively recruiting Vietnamese talents in order to meet a significant skilled labour shortage at home. The feedback we have received so far from German employers who welcome, train and upskill people from Vietnam is positive. Vietnamese demonstrate a strong work ethic, high motivation, and diverse skill sets. They fill critical gaps in various sectors, ranging from healthcare to manufacturing, and from IT to hospitality.

In 2024, we have witnessed further dynamic in our bilateral trade, as German companies continue to explore opportunities in Vietnam’s rapidly expanding market. The signing of the EU-Vietnam Free Trade Agreement has provided an additional boost, reducing tariffs and creating a more favourable environment for trade and investment. German companies are keen to leverage these advantages, bringing high-quality products and services to the Vietnamese market while contributing to the country’s industrialisation and modernisation.

One of the most promising areas of cooperation lies in renewables. Vietnam has set ambitious targets for reducing carbon emissions and transitioning to a more sustainable system. Germany, with its leadership in renewable energy technologies, is well-positioned to support Vietnam in achieving these goals.

The recent introduction of new regulations, such as the direct power purchase agreements, marks a significant step forward. These agreements will enable businesses to directly purchase electricity from renewable energy producers, fostering the development of green energy projects. German companies, with their advanced technology and experience in renewable energy, are eager to contribute to this transition.

Germany’s involvement reaches beyond investment. The whole portfolio of Germany’s development cooperation has one objective: To promote Vietnam’s transition to a green and sustainable economy. We are committed to sharing our experiences in building a sustainable energy sector, including best practices in regulatory frameworks, grid integration, and energy efficiency.

As we look to 2025, we also prepare to celebrate 50 years of diplomatic relations between Germany and Vietnam. This milestone is an opportunity to reflect on the progress we have made together and to reaffirm our commitment to a shared future.

Our partnership has evolved significantly over the past five decades, expanding from traditional areas of cooperation like trade and development to encompass a broader range of issues, including climate change, education, and cultural exchange. The anniversary will be a moment to showcase the depth and diversity of our relationship, highlighting the many ways in which Germany and Vietnam are working together to address global challenges. It is also a significant opportunity to highlight and expand our commercial connections, which have been a cornerstone of our partnership.

Our countries share a common vision of a sustainable, prosperous future, built on the pillars of economic cooperation, environmental stewardship, and mutual respect. Germany remains committed to being a reliable partner for Vietnam, supporting its economic development and transition to a green economy. Together, we can achieve great things, creating new opportunities for our people and contributing to a more sustainable planet.

Looking ahead, we are enthusiastic about deepening our collaboration and exploring new avenues for growth. The advancements in technology, coupled with our shared commitment to sustainability, will drive our mutual success. I look forward to continuing this journey with our Vietnamese partners, confident that the next 50 years of our relationship will be even more successful.

Source: Vietnam Investment Review