Businesses run by Vietnamese people in Germany have been asked to invest more into their homeland and to strengthen connections with Vietnamese partners to boost exports to Germany, as the Vietnamese Government is simplifying administrative procedures in order to facilitate investment.

Minister of Planning and Investment Bui Quang Vinh (L) at the meeting with representatives from the OV business community in Germany. Photo: Vietnam+

Minister of Planning and Investment Bui Quang Vinh said this at a meeting with the Vietnamese Embassy’s staff and representatives from the overseas Vietnamese business community in Germany on April 8 as part of his visit to the European country.

He said that Vietnam will continue to issue and adjust laws on private and public investment, enterprises and technology transfer.

According to the minister, the country is striving to stabilise its macro-economy, curb inflation, increase competitiveness, intensify economic restructuring, and reform growth by raising labour productivity and product quality.

The equitisation of State-owned enterprises and the restructuring of private ones are creating attractive investment opportunities for foreign companies, including overseas Vietnamese businesses in Germany, stated Vinh.

During the meeting, the minister also answered businesses’ queries on public investment, potential in agriculture and farm produce processing, and issues related to environmental protection, safety in building nuclear power plants, and intellectual property rights.

There are now more than 8,000 small- and medium-sized enterprises run by Vietnamese people and those of Vietnamese origin in Germany, mainly operating in trade, services, tourism, insurance and food processing.

Source: VNA