Germany to boost investment in Đà Nẵng

He said that until now, most German investment projects had focused on Hà Nội and HCM City.

Berger, who was accompanied by cultural, educational and economic representatives, said he is scouting investment opportunities in the city for German investors.

Germany’s infrastructure development companies are already operating in major Hà Nội and HCM City projects, the envoy said, adding that he hoped Đà Nẵng would lure additional investors from his country to garbage treatment and environmental protection projects, as well as for green industry.

Currently, only two German businesses operate in Đà Nẵng – sports shoes and sewing machine batteries – in Đà Nẵng.

The Alternative Investment Handelsgesellschaft Holding GmbH (AIH) Group plans to build a solid garbage treatment project with an investment of VNĐ2.7 trillion ($119.4 million).

The Schaeffler Group also plans to expand its investment in central Việt Nam and Đà Nẵng city. The German ASEAN Power Company plans to build a 40 megawatt (MW) solar power plant in the city with an investment of $400 million.

The Cen­tral Agen­cy for Ger­man Schools Abroad (ZfA) helped Đà Nẵng pilot a German-language teaching project at two junior secondary schools in Cẩm Lệ district.

The chairman of the city’s People’s Committee, Huỳnh Đức Thơ, also urged businesses from Germany to invest in Đà Nẵng and the central region, pledging to create favored conditions and streamlined procedures for them.

He said the city has the advantage of cheap labour and living costs.

In 2015, the city hosted an investment promotion event in Berlin to interest investors from Europe in the tourism, high-tech and information technology (IT) and software sectors.

The city, in co-operation with the Vietnamese Businesses Union in Europe, will host a Europe Business Forum this August.