German machinery firms seek opportunities in Vietnam

The German Machine Tool Builders’ Association (VDW) and the German Chamber of Commerce and Industry (GIC) recently held a seminar in Ho Chi Minh City to discuss Germany’s new inventions in machine tool manufacturing.

Leading German machinery and tool manufacturers introduced their new products and technologies, including digital solutions, to Vietnamese firms.

They expressed hope to seek opportunities to export machinery, tools, and technologies in service of Vietnam’s major economic fields, such as mechanical engineering, auto manufacturing, aviation, digital technology, and medical equipment.

Chief Representative of GIC in Vietnam Marko Walde described Vietnam as a promising market for Germany on the back of its rapid economic development, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union–Vietnam Free Trade Agreement (EVFTA).

Statistics showed that last year, Vietnam’s import of machinery and tools from Germany surged by 215 percent.

Germany is now the most important partner of Vietnam in the EU, providing the majority of machinery and tools for the Southeast Asian country.

Source: ven.vn