Vietnam and Germany Deepen Economic Partnership

	DPM, FM fosters robust and enduring ties with Germany over the past 45 years
	Business Association launched on 45th anniversary of relations between Vietnam and Germany

Over the past five decades, Vietnam and Germany have built a sustainable relationship founded on mutual respect, shared economic interests, and strategic cooperation.

Looking back on the partnership between the two nations, it can be seen that since 1990, the German Government has provided development support exceeding 2 billion euros. This assistance has helped Vietnam boost economic growth, improve living standards, enhance the country’s competitiveness, develop human resources through vocational training projects, promote technology transfer, and foster sustainable and green growth. Notably, Germany has also supported Vietnam’s efforts to address global climate change through various reforestation projects.

At the ceremony. (Photo: GIZ Viet Nam)

In terms of investment, Vietnam’s strategic geopolitical position, dynamic economy, and young workforce have made it an increasingly attractive destination for expanding business and investment.

Speaking at the event, Santiago Alonso Rodriguez, First Secretary for Development Cooperation at the German Embassy in Vietnam, emphasized: “Today, we are not only celebrating the 50th anniversary of diplomatic relations between Vietnam and Germany but also honoring the economic development journey of both countries. Over time, economy and trade have become among the strongest pillars of our bilateral relationship, contributing to fostering friendship, a forward-looking partnership, and a strategic relationship between our two nations.”

Dr. Nguyen Nhu Quynh, Director of the Institute of Strategy and Policy on Finance, stated that Vietnam is entering a new era with two key growth targets: by 2030, to become a modern industrialized developing country with upper-middle income; and by 2045, to become a developed socialist-oriented country with high income.

With these long-term directions, Dr. Quynh noted that Vietnam could become a reliable destination in the diversification strategies of German enterprises through professional industrial parks, smart factory models, and European-standard support centers for small and medium-sized enterprises. At the same time, Vietnam hopes for enhanced cooperation, technical assistance, training, and trade and investment from Germany.

At the event, speakers noted that in the near future, Vietnam and Germany aim to upgrade their cooperation from traditional trade and investment ties to partnerships with value chains meeting European standards, based on the EU–Vietnam Free Trade Agreement (EVFTA) and the EU–Vietnam Investment Protection Agreement (EVIPA). Both sides need to explore deeper incentives, simplify administrative procedures, and remove non-tariff barriers to strengthen trade and investment cooperation.

Vietnam and Germany have numerous opportunities to advance cooperation in trade, investment, and science and technology. However, both sides must overcome existing barriers and challenges while making the most of opportunities to enhance the quality of cooperation and achieve tangible results in the future.

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