German businesses expand investment and recruit more workers in Vietnam

This is the result of a survey on economic development prospects among German businesses in Vietnam announced by the German Chamber of Industry and Commerce in Vietnam (GIC/AHK Vietnam) on May 31.

23% of businesses participating in the survey are in the industry and construction sector, 58% are in the service sector and 19% are from trade. The purpose of this assessment is to understand the intentions and expectations of the German business community in Vietnam currently and in the medium term, and the barriers and challenges during operations in Vietnam.

“Basically, many German businesses in Vietnam are looking for new investment opportunities or expanding their investment here, because they realize that the Vietnamese market is gradually becoming more attractive when the ASEAN Economic Community (AEC) is officially established, when Vietnam signs important free trade agreements such as the FTA with the EU, or TPP and also the available advantages of the market", Mr. Marko Walde, Chief Representative of the German Chamber of Industry and Commerce in Vietnam Nam, comment.

Overall and in the medium term, Vietnam's economy is expected to develop well. More than half of German businesses, when asked about Vietnam's economic development prospects, were very optimistic. 47% of businesses believe in the growth of the economy next year; Up to 70% of German businesses are very satisfied with their business results; 58% of them believe in the prospect of revenue growth next year.

In particular, many German investors plan to expand investment and recruit more workers for their businesses in Vietnam. 54% of businesses questioned affirmed that they will increase investment capital here and 58% of them plan to recruit in 2017./.