Berlin (VNA) – The Government of Germany on July 23 officially submitted the EU - Vietnam Investment Protection Agreement (EVIPA) to the German Bundestag for ratification.

This legal document has been jointly advocated by the Vietnamese Government, the German business community, and partners within the frameworks of Vietnam – EU and Vietnam – Germany relations.

At its 11th meeting, the German Federal Cabinet approved a draft law concerning the EU’s investment protection agreements with Vietnam and Singapore. These agreements are intended to enhance economic ties with the dynamic Southeast Asian region and serve as a complement to the EU’s free trade agreements (FTAs) with Singapore (2019) and Vietnam (2020).

Earlier this month, during her working visit to attend the 2025 Global Summit of Women in Berlin, Vietnamese State Vice President Vo Thi Anh Xuan held talks with Vice President of the German Bundestag Bodo Ramelow, who announced that the German parliament had initiated the consultation process with relevant stakeholders in preparation for the ratification of the EVIPA, aiming to create new momentum for trade and investment cooperation between the two countries.

Economic ties between Vietnam and Germany form a key pillar of their strategic partnership. Germany is Vietnam’s biggest trading partner in Europe, while Vietnam is Germany’s largest trading partner in Southeast Asia, with two-way trade steadily growing by over 10% annually. The EU - Vietnam Free Trade Agreement (EVFTA), strongly supported by Germany, has significantly boosted bilateral economic relations, contributing to increasing the export of Vietnamese goods to Germany.

The two countries have complementary economic structures and product strengths. Vietnam excels in light industry, services, consumer goods, agricultural products, digitalisation, and information technology, while Germany holds advantages in heavy industry, machinery, raw materials, and cutting-edge clean energy technologies.

Vietnam’s geopolitical position in Asia and the Indo-Pacific region is increasingly rising. Its dynamic economy, young workforce, and strategic location have made the country an attractive destination for business and investment expansion. By the end of 2023, Germany ranked 17th among 146 countries and territories investing in Vietnam, with 463 projects worth 2.68 billion USD. In 2024, German investment continued to increase, with 472 valid projects worth 2.76 billion USD, reflecting steady growth.

♏ With a policy of diversification and risk reduction when investing in the region, German investors have increasingly prioritised expanding their operations in Vietnam due to the lower investment costs and the Vietnamese Government’s sustainable development orientations. Renewable energy, green transition and sustainable development, manufacturing, services, logistics, and education are among the key areas of cooperation between the two sides./.