Hung Yen propels investment in Germany and the Netherlands

On October 28, the delegation joined efforts with the Embassy of Vietnam in Germany, the Federation of Vietnamese Associations in Germany, and the Vietnamese Business Association in Germany to organise a conference on investment promotion and trade cooperation between Hung Yen province and German partners.

Vietnamese Business Association in Germany presented flowers to the delegation from Hung Yen. Photo: Hung Yen

The conference, held at Dong Xuan Trade Centre in Berlin, featured the participation of nearly 100 German businesses and Vietnamese counterparts based in the country.

At the meeting, Chairman Tran Quoc Van gave an overview of Hung Yen’s socioeconomic development and potential strengths, emphasising that the trip was to invite European investors, especially German businesses, to invest in Hung Yen.

"The Hung Yen delegation has identified Germany as a new and key location from which to attract investment, especially in mechanical engineering and machine manufacturing, and so we organised our first investment promotion trip to the country," said Van.

On behalf of the Vietnamese community and Vietnamese businesses in Germany, Nguyen Van Hien, chairman of the Federation of Vietnamese Associations in Germany and general director of Dong Xuan Berlin Trade Centre, said that there are currently about 20,000 Vietnamese-owned businesses in Germany, and they are most successful in restaurants, fresh flowers, import-export, and real estate.

During the meeting, he called on Vietnamese businesses to pay attention to investment opportunities in Hung Yen.

Vietnamese Ambassador to Germany Vu ​​Quang Minh said the relationship between Vietnam and Germany has been developing rapidly and becoming more substantial, especially in the field of trade and economy.

"Exchange activities between the two countries from the central to local levels have been increasing. The Embassy of Vietnam in Germany, the Federation of Vietnamese Associations in Germany, and the Vietnamese Business Association in Germany will always support Hung Yen's investment attraction and trade cooperation activities," said Minh.

Hung Yen delegation visited and worked with high-tech flower and ornamental plant production enterprises in the Netherlands. Photo: Hung Yen

During a trip to the Netherlands from October 22-25, the delegation visited and worked with the high-tech flower and plant production business Onings Holland Flowerbulb.

At the meeting, Hung Yen’s chairman outlined the province’s strengths, policies, and mechanisms in attracting investment, developing the services industry, and trade, especially the development of ornamental plants and flowers in Van Giang district with Dutch high-tech enterprises.

Chairman Van suggested that the Vietnamese Embassy in the Netherlands should introduce businesses to Hung Yen’s potential fields for investment, and affirmed it would create a conducive business environment for Dutch businesses to invest in the province.

In 2023, Hung Yen posted a budget revenue of $1.65 billion, ranking seventh in the country, with an average per-person income amounting to $5,000 per year, higher than the country’s average.

Hung Yen has experienced a breakthrough development with an average growth rate approximating 10 per cent, per year, from 2020 onwards.

Hung Yen hosts vocational training schools capable of meeting the high-skill needs in diverse fields such as electrical engineering, electronics, semiconductors, mechanical engineering and machine manufacturing from foreign businesses investing in the province.

The province is currently home to 10 industrial parks (IPs), powered with synchronous and modern technical infrastructure, with nearly 1,000 hectares of clean land ready to hail investors.

As of now, Hung Yen hosts more than 2,200 ventures from domestic and foreign businesses, including nearly 600 foreign direct investment (FDI) projects.

The FDI capital flow, however, mainly comes from Japanese and South Korean investors. So far, Hung Yen has only enticed a few European enterprises and only three German enterprises, with an investment of a modest $16 million.

Home to 18 planned IPs with a total area surpassing ​​9,500ha, offering convenient transportation infrastructure near Haiphong port and Hanoi’s Noi Bai International Airport, Hung Yen has great potential, advantages, and space to attract foreign investors.

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