Germany’s DW considers Vietnam new destination for European companies
Vietnam's active economic performance in recent years has captured the attention of some major European firms, said German English-language news site DW in a June 8 article.
Hanoi (VNA) – Vietnam's active economic performancein recent years has captured the attention of some major European firms, saidGerman English-language news site DW in a June 8 article.
Vietnam was one of the few Asian countriesthat did not experience an economic contraction during the coronavirus pandemicin 2020 and 2021, it said. This year, the country’s GDP is expected to grow by around5.5 percent, according to the World Bank.
German automotive supplier Brose, which has 11 factories inChina, is currently deciding between Thailand and Vietnam for a new productionlocation.
In December, Denmark's Lego announced it will build a 1billion USD factory near the southern business hub of Ho Chi Minh City, one of thelargest European investment projects in Vietnam to date.
It quoted Daniel Müller, manager at the German Asia-PacificBusiness Association, as saying: "It currently looks as if, in particular,medium-sized companies are increasingly striving to enter the Vietnam market.”
Vietnam has become a more attractive destination forinvestors, Raphael Mok, head of Asia Country Risk at Fitch Solutions, told DW.
Thearticle noted the EU and Vietnam ratified a free-trade agreement in 2020, whichincluded an investment pact, the EU-Vietnam Investment Protection Agreement (EVIPA).Bilateral trade rose to 49 billion EUR (52.08 billion USD) in 2021, up from 20.8 billion in 2012,the year talks began over the EU-Vietnam Free Trade Agreement (EVFTA).
A report by Germany Trade & Invest, a research andadvisory platform, points out that these pacts also give European firms easieraccess to public procurements in Vietnam./.
Foreign investors, especially those from the European Union (EU) would find it more appealing to land investment in Vietnam when the EU- Vietnam Free Trade Agreement (EVFTA) takes effect, according to German broadcaster Deutsche Welle (DW).
German and European media have reported high appreciation for Vietnam's donation of face masks to European countries to help them fight the COVID-19 pandemic.
Germany’s DW newswire recently ran an article saying that Vietnam still aims for an economic growth of 5 percent this year despite global economic crisis and likely recession in some of its neighbouring countries.
DW News, a German-based English-language news and information channel, has just published an article lauding Vietnam’s outcomes in its ‘war’ against the novel coronavirus.
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Illustrative photo (Source: VNA) 
