Vietnam is a country in the grips of an economic boom, and offers ideal conditions for German companies. The population has grown to 92 million people, with an average age of 29. The young population with an appetite for education is consumer-oriented and annual economic growth is 6.6 percent.
Even the termination of the TPP Agreement by the United States of America has not been able to stop positive economic development in Vietnam. The Vietnamese government has prepared well for it and has sought rapprochement to ASEAN and China. The rapprochement to China can make it easier for German companies to establish themselves in the Chinese market.
Vietnam will gain more economic momentum through the future free trade agreement with the EU. Projected growth rates of 6 percent and increasing foreign investments, which are permanently at a high level, reflect this positive development. Although it remains a communist state, foreign investors are very welcome and are often rewarded with tax breaks or tax exemptions. The government is pursuing a consistent course of economic openness and is investing in particular in the areas of the health care system, education and transport.
Added to that: Germany’s excellent reputation in Vietnam, which German investors cannot fail to benefit from!
Germany is not only one of the most prosperous countries in the world, its high share of exports shows that you can also rely on free trade there. The previously negotiated free trade agreement with the EU makes it easier for Vietnamese companies to export to Germany. Vietnamese companies have been able to significantly increase their exports to Germany over recent years.
Added to that: There are many historical references, in particular in the new federal states, and Germany enjoys an excellent reputation in Vietnam, which is unique in this form in the Asian region. There are already multiple economic relationships and, last but not least, with 120,000 people, the Vietnamese community in Germany is pretty big.