The delegation led by Mr. Timo Prekop - Member of Management Board of the German Business Association in Asia-Pacific (OAV) visited and worked in Hanoi.

Chairman of Hanoi People's Committee Nguyen Duc Chung welcomed Mr. Timo Prekop - Member of Management Board of the German Business Association in Asia-Pacific.

At this event, Prekop affirmed that the German companies have actively invested in Vietnam in general, Hanoi in particular based on the solid foundation of good relations between the two countries. Regarding to the OAV, Mr. Timo Prekop said its members focus on opportunities for cooperation in urban development, infrastructure, transport vehicle, energy and environmental protection as well as training human resources ... In this period, the German business community in general and Association members in particular are looking for support from the Hanoi People's Committee.

OAV's Delegation and representatives from Hanoi People's Committee

Welcoming the delegation's visit, Chairman of Hanoi People's Committee Nguyen Duc Chung said in the development plan, Hanoi has focused on three breakthroughs: infrastructure development, human resources training and administrative reform with specific solutions such as: investment to improve clean water quality in European standards; planting one million trees to improve urban beauty and environmental protection; surveying and building environmental monitoring system; planning and upgrading health facilities through strengthening facilities and equipping high quality human resources; calling for domestic and foreign enterprises to invest in waste treatment; cleaning lakes in the capital. Hanoi government is also striving to replace energy-saving LEDs and underground power lines with the goal of improving the people life quality.
In order to carry out these tasks, Hanoi prioritizes the survey, considering the application of leading European technologies, including the Federal Republic of Germany on urban development. Some advanced technologies of Germany have been applied in the fields of health, pruning trees, waste water treatment ... In addition, Hanoi delegations and leaders has frequently visited to Germany.
High appreciating the cooperation results between the two countries over the past time, Chairman Nguyen Duc Chung affirmed, Hanoi focuses on enhancing the exchange of experience, technology transfer and attract investment capital from European enterprises, especially German companies. Hanoi government will make every effort to connect and create conditions for bilateral cooperation, contributing to promoting and strengthening the relationship between Vietnam and the Federal Republic of Germany.
In one related move, VPBank Finance Company Limited (FE Credit) and Germany’s Deutsche Bank signed a US$100 million secured loan in HCM City on Nov 23. According to FE Credit, this loan will contribute to FE Credit’s financial strength, helping the company continue to develop its business operations and consolidate its market leadership in consumer finance sector, as well as become a reliable financial support for millions Vietnamese consumers.
Vietnam is in the process of ratifying a free trade agreement with the European Union which includes Germany as Europe's largest economy. In 2016, bilateral trade was worth USD10.3 billion. In October 2011, German Chancellor Angela Merkel and Vietnamese Prime Minister Nguyen Tan Dung signed the "Hanoi Declaration", establishing a Strategic Partnership between Germany and Vietnam that is designed to strengthen political, economic and cultural relations and development cooperation.