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Ho Chi Minh City calls for more investment from Germany

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Ho Chi Minh City hopes to receive more investment from Germany and pledges to further improve its investment climate for the sake of investors, chairman Phan Van Mai told German President Frank-Walter Steinmeier on Wednesday.

Mai was speaking at a meeting with President Steinmeier as part of the German leader’s two-day visit to Vietnam, set to last from Tuesday to Wednesday, at the invitation of his Vietnamese counterpart Vo Van Thuong.

The meeting took place at Deutsches Haus in Ho Chi Minh City’s District 1 where the German Consulate General is situated.

Mai expressed his hope that the German president will continue to encourage German enterprises to initiate and expand their investments in the city.

He also emphasized that the municipal administration is boosting improvement of its investment environment toward creating favorable conditions for foreign investors, including those from Germany.

Mai said the city wishes to attract more investment from Germany, especially in trade, and strengthen cooperation in education.

He urged President Steinmeier to encourage and support German educational organizations and businesses in enhancing cooperation with the city, focusing on education and vocational training. This includes fostering exchanges of experience in educational management and innovation.

Mai hoped that the German government will further promote people-to-people exchanges between German localities and the city to strengthen mutual understanding, contributing to deepen the strategic partnership between Vietnam and Germany, which are set to celebrate 50 years of diplomatic ties next year.  

President Steinmeier emphasized that Germany is very interested in and treasures cooperation with Vietnam and Ho Chi Minh City in particular.

He lauded the city’s dynamic development, saying it has greatly contributed to the overall socio-economic development of Vietnam over the past years.

The German leader and his host discussed a number of steps to boost the cooperative relations between Germany and the city. 

After the meeting, President Steinmeier attended a roundtable conference with German businesses and paid a visit to the Vietnam-Germany University in neighboring Binh Duong Province.

The German leader concluded his visit to the city on the evening of the same day, marking the end of his trip to the Southeast Asian country.

This visit represents his first overseas trip in 2024 and the second to Vietnam by a German president since the German reunification in 1990.

As the Vietnamese locality takes the lead in multifaceted cooperation with Germany, Ho Chi Minh City is home to many important projects relating to the European country such as metro line No. 2, the International German School, and especially the Deutsches Haus.

Germany now has 242 investment projects with a total registered capital of nearly US$370 million in the city, ranking 14th out of 120 countries and territories investing in the southern metropolis.

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