“What feels like the end is often the beginning”. With 2022 slowly closing its curtain, AHK Vietnam invites you to join us and take a look at our recap of highlight events and economic situation in the past year as well as our new services.
Highlight Events
2022 has been a year with full of changes and challenges, but it also opens up tons of new opportunities for future development. We started the year with the Vietnamese government officially agreed to reopen inbound and outbound tourism under new normal conditions on March 15. This means that Vietnam has been resuming the unilateral visa exemption policy for 13 countries and bilateral for 88 countries and territories as prior to the pandemic. This decision is crucial for tourism recovery, creates opportunities to expand foreign investment, and regenerate the economy of Vietnam after 3 years of pandemic.
In the latter half of 2022, with the visit of German President Olaf Scholz by the invitation from the Vietnamese Prime Minister Pham Minh Chinh, Vietnam has received new major directions and measures to comprehensively promote cooperation between the two countries, such as the continuation of EU-Vietnam Free Trade Agreement (EVFTA), the MOU on Energy Transition and a skilled labor migration program called “Hand in Hand for International Talents”.
To support the cooperation between Germany and Vietnam, on November 21, the Conference on Trade and Investment promotion in Binh Dinh - with the main focus on Manufacturing and IT - had successfully concluded with more than 150 German enterprises who seek chances for successful, sustainable and long-term investment in Binh Dinh. Furthermore, Binh Dinh authorities and the PNE AG company signed a MOU on cooperation in an offshore wind power project with an estimated investment value of 4.6 billion USD.
With the spirit to promote sustainable development cooperation between Vietnam and the EU, on November 30, AHK Vietnam organized the German National Pavilion at GEFE 2022 – a leading exhibition on renewable energies and environmental technologies. The exhibition was held in Ho Chi Minh City with the aim to bring together experts in the field of renewable energies and environmental technologies. This year, with the participation of 17 leading German companies in the respective area, visitors had the chance to observe a display consisting of a wide selection of German know-how.
At the end of 2022, Vietnam has successfully concluded the year by achieving a 15.5 billion USD agreement with the G7 and its partners. The agreement on Just Energy Transition Partnership (JETP) has the aim to help Vietnam wean the Southeast Asian nation off coal. Under the JETP, Vietnam commits to a set of new targets that will avoid 500 megatons of emissions by 2035, according to the U.K. Foreign Office. The adoption of the political declaration also affirms Vietnam's strong, consistent commitment and great efforts in responding to climate change, demonstrating Vietnam's responsibility to join hands with G7 to solve one of the world’s greatest challenges.
2022 Vietnam Economic Development
Although being slowed down in 2021 due to the emergence of Covid’s variants, Vietnam’s Economy has significantly improved in 2022 and reached a total GDP growth of 8.02%. Moreover, according to GSO, a total trade value of 732 billion US dollars and an extra 22.3 billion US dollars coming from different FDI sources have turned 2022 into a year filled with prosperity to Vietnam.
In addition, the business relationship between Vietnam and Germany also had a considerable improvement. Statistically, from 01 Jan to 20 November, Vietnam and Germany had a total trade value of 14.8 billion US dollars, growing up to 12% in comparison with same time last year, according to Destatis. The cooperation between 2 countries has reached 500 German investment projects, creating over 50,000 jobs in Vietnam.
AHK Vietnam’s new services
With the aim to support the trade relations between Germany and Vietnam, AHK Vietnam has organized new services to support German enterprises in developing business environment Vietnam.
- Competence Centre
The Competence Centre is created with the aim to support German companies in the field of food and agriculture in Vietnam. The program offers businesses with benefits such as Vietnamese market information, B2B matching and market studies, etc.
- Online Portal: BME Open sourcing
AHK Vietnam connects Vietnamese suppliers to German customers through the business’ online platform BME Open sourcing. Join the platform to keep buyers informed about your current activities.
- Supply Chain Act Services
AHK Vietnam established a helpdesk to assist companies in implementing the German Supply Chain Due Diligence Act. The service included customized consulting, reporting about working process of your local suppliers, training for local suppliers, etc.
- Supply Chain Diversification
AHK Vietnam is actively supporting its clients to fortify their sourcing strategies. It is helping buyers to identify and contact Vietnamese suppliers, e.g., in the fields of metal processing and electronics. Furthermore, in 2022 AHK Vietnam assisted several companies with location analyses for manufacturing operations. Five companies already have committed to invest in Vietnam.
Upcoming Events
In preparation for the upcoming year, AHK Vietnam is providing you a list of our special events in 2023. Register with us now to receive all the latest information regarding the events.
- Consulting Days | 07-16 February 2023 | Germany
- The Taste of Germany | 24 March 2023 | Vietnam
- “China +1” Delegation | June 2023 | Singapore/Germany
- Talent Biz | June 2023 | Vietnam
- Vietnam Pavilions at:
- Fruit Logistica | February 2023 | Berlin
- BioFach | February 2023 | Nuremberg
- International Travel Trade Show (ITB) | March 2023 | Berlin
If you are interested in doing business in Vietnam, let the AHK Vietnam know what your company intends to do, and we will contact you for further consultation.
Please visit our website for further information: www.vietnam.ahk.de
2022 Recap