German newspaper "The Mirror" had recently run an article praising Viet Nam's investment environment as well as its open policies for foreign businesses.
German investors and representatives from the German Industry and Commerce Viet Nam (GIC) as part of the German Chambers of Industry and Commerce (AHK), praised the Vietnamese Government for offering favourable conditions for foreign investors.
Among German investors, Evert Helms CEO of Pepperl and Fuchs Company (P&F), specializing in industrial sensor and processor technology, said he is happy to be working in Viet Nam, not only because his company is provided with the best conditions for production, but the more importantly, that his company’s products exported to Southeast Asian markets enjoy tax exemption.
He said Viet Nam has maintained political stability and the Vietnamese people have always shown a progressive spirit. According to him, business activities of the P&F, with a team of 5,600 employees worldwide and revenues of more than 500 million Euros per year, will certainly achieve double-digit growth in Viet Nam.
The P&F CEO also commended Viet Nam's Labour Code with confidence and clarity, the same as the EU standards. He advised small and medium sized German enterprises to come to Viet am if they intend to do business in this region.
Also, regarding the investment environment in Viet Nam, General Director of Saigon Leather Tan Tec, Uwe Hutzler appreciated the investment policy and preferential tariffs for foreign enterprises. According to him, Viet Nam has a more stable framework conditions than some other regional countries.
The article quoted AHK Deputy Chief Representative in Viet Nam, Peter Kompalla said there are about 300 German enterprises doing business in Viet Nam and dozens of businesses are looking for partners in the country.
Meanwhile, German Bank for Reconstruction (KfW) Chief Representative in Ha Noi, Ms BirgitErbel emphasized Viet Nam’s admirable achievements.
In 1993, the Southeast Asian country had nearly 60% of the poor population but this rate has now dropped to below 12%. Besides, Viet Nam has recorded economic growth of 5% for years and is expected to reach 6.4% in 2018.
The Vietnamese Government aims to develop Viet Nam into an industrialized country by 2020, she added.
Source VOV