Vietnam seeks Germany’s support for digital transformation in manufacturing

The German government fully support the enforcement of agreements in trade and industrial cooperation, including the EU – Vietnam Free Trade Agreement (EVFTA), to boost bilateral trade and investment cooperation.

Vietnam seeks Germany’s support for local enterprises to join production chains of parts and accessories and set up a center for digital transformation in manufacturing to grasp new market opportunities in the Industry 4.0 era.

Vietnam, Germany, digital transformation, EVFTA, production chains, bilateral trade, economic cooperation  Minister of Industry and Trade Tran Tuan Anh chairs the meeting. 

Minister of Industry and Trade Tran Tuan Anh made the request at the first Vietnamese – German Joint Economic Committee held in a virtual platform in Hanoi.

“The move will help contribute to the development of supporting industries and lay a solid foundation for the sustainable growth of Vietnam’s industrial sector,” stated Mr. Anh.

According to Mr. Anh, Vietnam gives priority to its strategic partnership with Germany, expecting to further promote bilateral economic, trade and industrial cooperation.

“The Ministry of Industry and Trade continues to create favorable conditions for foreign-invested companies, especially those from Germany that are conducting business in Vietnam,” added Mr. Anh, saying this is a key factor to ensure Vietnam’s economic development.

German Economy Minister Peter Altmaier said Vietnam is Germany’s priority partner, as such, the German government fully supports the enforcement of agreements in trade and industrial cooperation, including the EU – Vietnam Free Trade Agreement (EVFTA), to boost bilateral trade and investment cooperation.

Vietnam, Germany, digital transformation, EVFTA, production chains, bilateral trade, economic cooperation  Minister of Industry and Trade Tran Tuan Anh and Germany's Ambassador to Vietnam Guido Hildner. 

During the Covid-19 pandemic, it is increasingly important for enterprises from the two countries to penetrate each market to accelerate the economic recovery process, added Mr. Altmaier.

The two ministers also agreed on facilitating the “Fast Track” mechanism to timely address concern from enterprises, while setting up the timeline for the next meeting of the Joint Economic Committee in 2022.

Germany is currently Vietnam’s largest trading partner in Europe, accounting for 19% of Vietnam’s exports to the EU.

Meanwhile, Vietnam remains Germany’s 24th largest exporter out of 144 countries and territories, and its key partner in Asia given the EVFTA in place.

As of November 2020, bilateral trade turnover reached US$9.08 billion, of which Vietnam’s exports rose by 0.5% year-on-year to US$6.05 billion, an encouraging number despite severe trade disruption by the Covid-19 pandemic.

News Related

OTHER NEWS

State Treasury aims to conduct inspections by electronic means

VCN - In the future, inspection officers of the State Treasury will fully exploit the data of the inspected units through online public services and the inspection will be done electronically Read more »

Vietnam – bright spot in gloomy global economic picture: ASEAN Today

Vietnam’s top leaders, who are selected at the 13th National Congress of the Communist Party, will drive the country towards its socio-economic development targets as well as multilateral goals around peace, security and... Read more »

Northern Ninh Binh province seeks its own airport

Ninh Binh Province has sought a domestic airport to better exploit its tourism advantages and serve industrial development. Read more »

Imported automobiles into Vietnam decrease sharply

Imported automobiles into Vietnam decrease sharply Read more »

Cityland Education, EHL to train hospitality professionals

An EHL campus. The company is co-operating with Cityland Education to train human resources for the hospitality sector. — Photo Courtesy of CityLand Education HCM CITY — Việt Nam’s Cityland Education on Thursday... Read more »

Vietnam to grow 6.8 pct a year in the next five years

Vietnam can see an annual growth of up to 6.8 percent in the 2021-2025 period if the global economy recovers from Covid-19 impacts. Read more »

HCM City, southern provinces step up efforts against fake goods, contraband as Tết approaches

Smuggling and trade fraud are on the rise ahead of Tết, which falls on February 12. —VNA/VNS Photo. HCM CITY – Officers tasked with preventing fake goods, trade fraud and smuggling in HCM... Read more »

RCEP helps Vietnamese agricultural products reach out to the world

The mammoth trade deal Regional Comprehensive Economic Partnership (RCEP) is expected to unlock more export markets for Vietnamese agricultural products, according to insiders. Read more »

Ensuring information security for cloud computing a key national goal

Cloud computing will be the main orientation of the country to focus on in the coming time. — Photo vicloud.vn HÀ NỘI — The Ministry of Information and Communications has determined that the... Read more »

Vietnam power utility unit to go public

A $2-billion power generation unit of state-owned utility Vietnam Electricity (EVN) will have an initial public offering on the country’s main bourse next month. Read more »