Majority of German firms plan to expand Vietnam business: report
As many as 54 percent of the German businesses operating in Vietnam wish to expand their operation in the next 12 months, while 52 percent hope to recruit more employees for their factories, according to the annual AHK World Business Outlook released on November 13, 2018.
HCM City(VNA) – As many as 54 percent of the German businesses operating in Vietnamwish to expand their operation in the next 12 months, while 52 percent hope torecruit more employees for their factories, according to the annual AHK WorldBusiness Outlook released on November 13, 2018.
The report, made bythe German Chambers of Commerce in various countries around the globe, includescomments from German businesses in Vietnam and the world on economicdevelopment at present and in the future.
It has the engagementof 3,500 German enterprises around the world who gave their ideas on the growthof the host countries and themselves as well as their future plans.
According to MarkoWalde, Chief Representative of the GIC/AHK in Vietnam, the Vietnamese economyhas been growing, while the conclusion of negotiations with the EU on abilateral free trade agreement has created momentum for the country’s economicexpansion.
The signing of thedeal will be an evidence for the trade facilitation trend, he added.
Walde said thatVietnam is an important ASEAN partner of the EU and Germany. Amidst theUS-China trade tension, enterprises are moving their production facilities to China’sneighbouring countries to avoid tariff measures.
However, shortcomingsin the legal corridor for trade and business as well as the shortage of high-qualityhuman resources have been great challenges facing German investors in Vietnam.
The report also givesoptimistic comments on prospects of economic growth in the Asia-Pacific region.However, German firms have no longer kept high expectation in the region as thebeginning of 2018.
The firms held thatthe region’s economy will slow down due to the adjustment in interest rate ofthe US as well as impact of the US-China trade tension.-VNA
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Illustrative photo (Source: VNA) 
