Nghệ An steps up economic cooperation with Germany

Nghệ An steps up economic cooperation with Germany

During the visit, the delegation had a working session with the Federal Association of Small and Medium-Sized Businesses (BVMW), the largest economic association in Germany.

Representatives from the BVMW and the provincial Department of Foreign Affairs sign a Memorandum of Understanding to strengthen cooperation in promoting investment in Nghệ An province. — VNA/VNS Photo

A delegation of the central province of Nghệ An led by Standing Deputy Secretary of the provincial Party Committee and Chairman of the provincial People's Council Hoàng Nghĩa Hiếu paid a working visit to Germany from May 22-25, aiming to promote exchanges and co-operation with the European country.

During the visit, the delegation had a working session with the Federal Association of Small and Medium-Sized Businesses (BVMW), the largest economic association in Germany.

Hiếu briefly introduced the province’s advantages, particularly its strategic position, economic growth and foreign direct investment (FDI) attraction. Nghệ An currently has 155 FDI projects, with a total registered capital of US$6 billion, but there are no projects from Germany.

The official noted that the bilateral import-export turnover between Nghệ An and Germany is still quite modest, with exports reaching $54 million and imports reaching $6.8 million in 2024, not commensurate with the potential and strengths of both sides.

For his part, Director of BVMW's International Markets Reinhold von Ungern-Sternberg, said that German enterprises are aware of the great potential and dynamic economic development in Vietnam in recent years.

He affirmed that BVMW is interested in expanding foreign partnerships. Seeing the wave of investment reallocation of large corporations in the world to Việt Nam, he realised that Việt Nam is an attractive market for German companies. The association will soon organise a market research visit for its member enterprises, he said.

At the session, representatives from the BVMW and the provincial Department of Foreign Affairs signed a Memorandum of Understanding to strengthen cooperation in promoting investment in Nghệ An province.

On May 24 evening, the delegation attended a ceremony marking the 135th birth anniversary of President Hồ Chí Minh. 

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