German, Swiss and Israeli firms to invest $350 mln in Vietnam

By Duc Minh   November 26, 2020 | 02:38 am PT
German, Swiss and Israeli firms to invest $350 mln in Vietnam
Prime Minister Nguyen Xuan Phuc meets with the foreign business delegation led by Philipp Rosler, November 25, 2020. Photo by VGP/Quang Hieu.
German, Swiss and Israeli enterprises will invest $350 million in areas like digital tourism, digital startups, healthcare, and manufacturing of personal medical appliances in Vietnam.

Former Vice Chancellor of Germany Philipp Rosler made the remarks while meeting with Vietnamese Prime Minister Nguyen Xuan Phuc on Wednesday afternoon. He led a foreign business delegation, which is seeking opportunities in Vietnam.

Rosler said some investors plan to move their manufacturing plants from other markets to Vietnam. While they hold Vietnam’s business environment in high regard, the investors expect the Vietnamese government to remove restrictions relating to administrative procedures.

Prime Minister Phuc affirmed Vietnam is making efforts to actively control the Covid-19 pandemic and promote manufacturing and business.

The country is also regarded as one of the top growing economies this year. International Monetary Fund has upped its prior forecast for Vietnam’s 2020 GDP growth by 0.8 percentage points to 2.4 percent.

It has attracted over 33,000 FDI projects from 139 countries and territories with a total capital of $383 billion. Vietnam is now calling for FDI in high technology, innovation, support industries, and human resources training, said the Prime Minister.

It is also improving its business and investment environment to make it easier for foreign investors to operate.

Phuc asked for Rosler’s support in promoting investment and attracting capital from major corporations around the world. He expressed his appreciation for investment projects in Vietnam, especially in tourism, which is a spearhead economic sector promoted by the government.

The Vietnamese government always ensures the legal rights of foreign investors in the country, so they can be assured of long-term business, he affirmed.

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