ASEAN KEY DESTINATIONS
Germany to boost investment in Da Nang
Germany plans to open a representative office in Da Nang to boost co-operation and investment in the central coastal city and central region, newly appointed German ambassador to Viet Nam, Christian Berger, said on a working visit to Da Nang on Wednesday.
He said that until now, most German investment projects had focused on Ha Noi and HCM City.
Berger, who was accompanied by cultural, educational and economic representatives, said he is scouting investment opportunities in the city for German investors.
Germany’s infrastructure development companies are already operating in major Ha Noi and HCM City projects, the envoy said, adding that he hoped Da Nang would lure additional investors from his country to garbage treatment and environmental protection projects, as well as for green industry.
Currently, only two German businesses operate in Da Nang – sports shoes and sewing machine batteries – in Da Nang.
The Alternative Investment Handelsgesellschaft Holding GmbH (AIH) Group plans to build a solid garbage treatment project with an investment of VNĐ2.7 trillion ($119.4 million).
The Schaeffler Group also plans to expand its investment in central Viet Nam and Da Nang city. The German ASEAN Power Company plans to build a 40 megawatt (MW) solar power plant in the city with an investment of $400 million.
The Central Agency for German Schools Abroad (ZfA) helped Da Nang pilot a German-language teaching project at two junior secondary schools in Cam Le district.
The chairman of the city’s People’s Committee, Huynh Duc Tho, also urged businesses from Germany to invest in Da Nang and the central region, pledging to create favored conditions and streamlined procedures for them.
He said the city has the advantage of cheap labour and living costs.
In 2015, the city hosted an investment promotion event in Berlin to interest investors from Europe in the tourism, high-tech and information technology (IT) and software sectors.
The city, in co-operation with the Vietnamese Businesses Union in Europe, will host a Europe Business Forum this August.
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