Sovico signs cooperation agreement with Hamburg, eyes transport and infrastructure projects

Sovico signs cooperation agreement with Hamburg, eyes transport and infrastructure projects

The discussions built on more than three decades of engagement with German partners across technology, healthcare, banking, finance and aviation.

Representatives from Sovico Group and the Free and Hanseatic City of Hamburg (Germany) pose for a group photo after signing the agreement. — Photos courtesy of Sovico

Conglomerate Sovico has signed a partnership deal with the German city of Hamburg, seeking to expand cooperation in aviation, transport infrastructure, logistics, technology and finance.

The agreement follows talks on Tuesday between Sovico chairwoman Nguyễn Thị Phương Thảo and Peter Tschentscher, first mayor and president of the Senate of Hamburg, at the headquarters of Vietnamese lender HDBank.

Thảo proposed expanding direct air links between Việt Nam and Germany and exploring cooperation in airport infrastructure, logistics, urban rail, maritime transport and supporting industries, according to the company.

Tschentscher highlighted Hamburg’s strengths in aviation, shipping, rail transport and technological research, as well as its experience integrating seaports with logistics networks and developing sustainable urban environments.

Sovico said the discussions built on more than three decades of engagement with German partners across technology, healthcare, banking, finance and aviation.

Cooperation in finance includes investment in HDBank by DEG, a subsidiary of German development finance group KfW, over the past five years. A jointly established German Desk also supports Vietnamese and German businesses seeking trade and investment opportunities.

Representatives from Sovico Group and the Free and Hanseatic City of Hamburg (Germany) pose for a group photo after signing the agreement. — Photos courtesy of Sovico

At the Hamburg-Sovico Strategic Business & Partnership Forum 2026 on Tuesday, Thảo said the group was entering a new phase of investment that could create opportunities for cooperation in aviation, airport development, urban and high-speed rail, smart cities, green industry and technology.

Potential areas of cooperation include Việt Nam’s Long Thành and Gia Bình international airport projects and urban rail development in HCM City, Đồng Nai and Hà Nội, the company said.

Thảo called for a long-term vision, aligned investment strategies and coordination among stakeholders to translate development ambitions into projects.

Liv Assmann, State Secretary and Plenipotentiary of the Free and Hanseatic City of Hamburg to the Federation, to the European Union, and for Foreign Affairs, said her visit aimed to explore new areas of cooperation while strengthening existing ties.

Hamburg, a major logistics and industrial hub, was seeking to contribute to Việt Nam’s infrastructure development and economic growth, she said. Agreements reached with Vietnamese universities during the visit would also open opportunities for cooperation in education, research and workforce training.

Assmann said the delegation was looking forward to further cooperation to strengthen ties between Hamburg and HCM City, as well as between Hamburg and Việt Nam more broadly.

Representatives from Sovico Group and the Free and Hanseatic City of Hamburg (Germany) pose for a group photo after signing the agreement. — Photos courtesy of Sovico

The partnership agreement aims to combine Hamburg’s industrial expertise and development experience with Sovico’s business network and investment plans to pursue long-term projects benefiting businesses and local communities.

Sovico has interests spanning aviation, banking and other sectors, including through HDBank and low-cost carrier Vietjet.

Thảo said she hoped the discussions would lead to concrete cooperation programmes, viable projects and measurable results. 

Bizhub