Saturday, November 10, 2007

German investor interest on the rise in Vietnam

German companies increasingly recognise Vietnam as a location for investment in Southeast Asia, said Jan Noether, chief representative of the German Chamber of Industry and Commerce in Vietnam.

Noether expressed this view after a workshop on Vietnamese investment environment, held yesterday in Ha Noi.

The workshop, entitled “ VietnamLand of Investment Opportunities in Southeast Asia”, drew representatives from 15 enterprises in many fields from Thuringen , Germany .

During the workshop, participants shared information and experiences on the investment environment in Vietnam .

“To date, German companies have invested in 94 projects in Vietnam , worth 426 million USD,” said Phan Huu Thang, general director of the Ministry of Planning and Investment’s Foreign Investment Agency.

Potential investors were also informed of investment conditions in Vietnam as well, as its legal system.

Opportunity for co-operations between our countries is huge given mutual respect and knowledge of the benefits to be gained,” Thang said.

Advantages and disadvantages of investing in Vietnam were also aired.

Vietnam has a stable political system and investment climate continues to improve, Noether said.

A young population and competitive productivity are among other advantages discussed.

Noether identified short-comings investors may face when choosing Vietnam such as: economic growth exceeds development of infrastructure, recent high inflation, the administrative cost of non-competitiveness and a shortage of skilled labour.

Despite this, investors from Thuringen regard Vietnam as a prime location for investment and believe future co-operations between Vietnamese and German enterprises will develop strongly.

Vice President welcomes Germany’s investors

Vietnam always welcomes foreign investors and will create all favourable conditions for JATRO AG group’s bio-energy project, Vice State President Nguyen Thi Doan told her German guest.

The Vice President was receiving a delegation from Germany ’s JATRO AG group, led by its President Dr. Christoph Weber, in Ha Noi on November 8. The German businessmen were on a working visit to look into opportunity to invest in the area of bioenergy.

Dr. Christoph Weber reported to the Vice President about his working session with the Ministry of Agriculture and Rural Development on a project to grow oil-containing plant (Jatropha Curcas) on infertile land to produce biological diesel and petrol.

According to Christoph Weber, about 20 countries are planting Jatropha Curcas for bioenergy and the project is suitable for Vietnam . The project should start in Binh Thuan and Ninh Thuan provinces, he said, adding JATRO AG group hoped to share experience with Vietnam in developing bioenergy.

Vice President Doan said she hoped that the project would help Vietnam minimize its dependence on the world’s petroleum resources, and help farmers, particularly those living in areas with infertile land, reduce poverty.