In this January, Lao Prime Minister Sonexay Siphandone concluded a significant official visit to Vietnam, reinforcing the strong bond and comprehensive cooperation between the two nations. 

In 2023, Vietnam's investment in Laos soared by 65.3% to $116.6 million, focusing on key sectors like clean agriculture and energy. Bilateral trade exceeded $1.5 billion, making Vietnam the third-largest foreign investor in Laos.  Both countries signed a MoU to enhance connectivity through projects like the Vientiane-Hanoi expressway and Vientiane-Vung Ang railway. Vietnam will actively and effectively support Laos to successfully assume the Chairmanship of ASEAN in 2024. 

For more information, kindly visit here>>> 

For business inquiries concerning the markets of Cambodia, Myanmar, and Laos, please contact us at regionCLM@vietnam.ahk.de 

Join us in AHK Podcast #38 as we uncover the diverse opportunities that Laos holds for trade and investment. This episode delves deep into the intricacies of the investment climate, labor market dynamics, and the cultural elements shaping successful business ventures in the region. 

Our esteemed guests, representatives from the European Chamber of Commerce and experienced German investors in Laos, share their insights: 

• Mr. Tim Scheffmann – CEO & Founder LTS Ventures – Fintech Company, representative of German business
• Mr. Lukasz Nitka – Partner & Director J&C Group – Deputy President of Eurocham in Laos

Tune in NOW on Spotify>>> or Apple Podcast>>> 

For more podcast from us, please visit AHK Vietnam’s website>>> 

Contact us for business inquiries regarding the markets of Cambodia, Myanmar, and Laos: regionCLM@vietnam.ahk.de 

In 2023, Cambodia and Vietnam are collaborating on key transportation projects to enhance connectivity in the Mekong Delta. Cambodia's Phnom Penh-Bavet Expressway, a $1.6 billion initiative, aims to boost socio-economic ties with Vietnam and neighboring nations. It connects with Vietnam's Moc Bai-HCMC Expressway, set to ease traffic and foster economic growth in Tay Ninh Province. Simultaneously, Vietnam is constructing the Chau Doc - Can Tho - Soc Trang Expressway to link agricultural hubs with major cities, including Phnom Penh. These joint efforts signify a commitment to improving infrastructure and facilitating smoother transportation in the region. 

For more details, kindly visit here>>> 

Date: Wednesday, 21 February 2024

Time: 6 PM – 9 PM

Venue: Mai Sen Bistro, Binh Thanh

More details here>>>

Vietnam has been actively expanding and modernizing its railway infrastructure to reduce reliance on road and air transportation. Notably, a $58.6 billion high-speed rail project will connect Hanoi and Ho Chi Minh City. 

International contractors also have the opportunity to participate in two other railway lines (Thu Thiem Airport Long Thanh and Bien Hoa-Vung Tau) in the south of Vietnam. These are two significant projects contributing to the synchronization of transportation infrastructure for the new Long Thanh Airport, with a combined investment of $3.91 billion. For program details, kindly visit here>>> 

Thorough market research and adaptation to the Vietnamese market’s specific needs and challenges are essential. For inquiries, contact Ms. Le Hai Duong | E-mail: duong.lehai@vietnam.ahk.de 

The ASEAN region is becoming increasingly important for the German economy – whether as a sales and procurement market or as a sales and production location. The dynamic economic area with strong growth rates and around 670 million inhabitants offers diverse opportunities for German companies.  

At the NRW-ASEAN Summit 2024, you will have the opportunity to obtain information about the individual markets, the region, and the respective business opportunities. In addition, representatives of the German Chambers of Commerce Abroad will be available for consultations.  

For more details about the event, kindly visit here>>> 

To secure your spot, register now>>> 

If you have any questions, please contact: Mr. Björn Koslowski | E-mail: koslowski.bjoern@vietnam.ahk.de 

Discover business prospects in Vietnam's healthcare sector from May 7 to 10, 2024, during a business trip organized by the Institute for Emerging Markets of IHK Reutlingen, IHK Export Academy, and AHK Vietnam. Engage in personalized B2B discussions with both national and international companies and participate in meetings with relevant ministries and associations to establish crucial contacts for market entry and expansion in Southeast Asia. The visit to VIETNAM MEDIPHARM, along with the exploration of reference projects, will facilitate the search for distributors and customers. 

For more details about the event, kindly visit here>>> 

To secure your spot, register now>>> 

If you have any questions, please contact: Mr. Björn Koslowski | E-mail: koslowski.bjoern@vietnam.ahk.de 

The German Business Association offers excellent networking opportunities for various needs that come along with doing business in Vietnam. Don’t miss out on any of our upcoming activities!

Please visit our Website>>>, follow us on Facebook>>> and LinkedIn>>>, or join the GBA Announcement Group on WhatsApp>>> & Zalo>>> to stay up to date.

Germany and Vietnam are stepping up efforts to alleviate Germany's shortage of skilled workers. Acknowledging Germany's immediate demand for skilled workers across various fields, Vietnam, with its young and motivated population, emerges as a promising solution.  

During the visit to Vietnam, Federal Labor Minister Hubertus Heil and his Vietnamese counterpart Dao Ngoc Dung (Ministry of Labour, Invalids and Social Affairs) signed an agreement on Labour Migration Cooperation, under the witness and support of Federal President Frank-Walde Steinmeier. 

For the full article in German, please visit here>>> 

In a recent interview with VIR, Mr. Marko Walde highlighted the flourishing investment and trade ties between Vietnam and EU catalyzed by the EVFTA. Bilateral trade has surged by 20% since August 2020, and despite global challenges, EU investors added $810 million to Vietnam's economy from January to September 2023. Vietnam has become a regional production hub, with Germany alone having 464 projects totaling $2.68 billion. The EVFTA positions Vietnam as an attractive investment destination, signaling positive economic growth in the ASEAN region. 

To delve deeper into the interview and explore the intricacies of EU-Vietnam economic relations, read the full article right here >>> 

In a recent interview on VTC10, Mr. Stéphane Jacqmin, Executive Vice President in charge of Emerging Markets at STADA AG, highlighted Vietnam's stable investment environment and the active support received during the licensing process, fostering STADA's optimism. With two factories in Phu Yen Province, STADA Pymepharco is engaged in technology transfer and the development of high-quality medicine systems, positioning Vietnam as a global manufacturing hub. 

Referring to STADA Pymepharco's initiatives and endeavors in Vietnam, Mr. Marko Walde emphasized that AHK Vietnam is very pleased to contribute to the development and success of STADA Pymepharco in bringing high-quality products with the "Made in Vietnam" label closer to Vietnamese consumers and further to international consumers. 
  
To watch the full program, kindly visit here>>>  

In a recent interview on VTC10’s "A Guide To Vietnam", Ms. Dao Thu Trang  shared insights on opportunity of living, settling, and working in Germany. She also provided more information about the Hand in Hand for International Talents project of the German Federal Ministry of Economics and Climate Action, implemented by AHK Vietnam to support young Vietnamese professionals in studying and developing careers in Germany. 

The broadcast also records interesting activities at the event "Advancing Your Career in Hospitality – A German Guide" recently organized by AHK Vietnam, Goethe Institute HCMC, and Saigontourist Hospitality College. Mr. Marko Walde emphasized the high demand for skilled human resources in Germany, and AHK Vietnam aims to assist young Vietnamese workers in training, cultural integration, and long-term living in Germany. 

To watch the full program, kindly visit here>>> 

In an exclusive interview with VIR, Mr. Marko Walde emphasized that German businesses still consider Vietnam as one of the most potentially developing markets in Asia. Currently, 500 German companies have invested $2.68 billion in Vietnam, creating 50,000 jobs. The investment landscape showed positive trends in 2023, with $366.2 million invested in registered capital.  

To attract more foreign investors, the government should streamline administrative procedures, invest in infrastructure, enhance local competitiveness, develop industry clusters, provide specialized workforce training, adhere to international standards, and ensure a stable electricity supply. 
 
To read the full article, kindly visit here>>> 

In 2023, Vietnam's domestic aviation market experienced a notable recovery, with a 34.5% YoY increase in passengers, reaching a total of 74 million. The Hanoi-Ho Chi Minh City route ranked fourth among the world's busiest, indicating a positive trend. 

In 2024, domestic airlines expect to transport 58 million passengers, while outbound routes may experience a 30% YoY increase to 19.5 million passengers. Notably, domestic route transport is forecasted to decline by 10.5%, primarily due to route adjustments and downsizing. The Ministry of Transport is considering a 50% reduction in aircraft landing and take-off service charges for domestic flights to alleviate challenges faced by airlines in the current uncertain market. 

To read the full article, kindly visit here>>>

Recently, PNE AG from Germany has obtained the Acceptance of Investment Policy from the Binh Dinh province and is currently awaiting licenses for the subsequent phases of the offshore wind project implementation. This decision was made at the end of December 2023 during the "Announcement Conference of Binh Dinh Province Planning for the Period 2021-2030, Vision to 2050." The outcome is a result of collaboration between PNE and AHK Vietnam. Mr. Marko Walde had the honor of representing PNE to receive this approval at the conference. 

The Vietnamese article can be viewed here>>>  

In a recent interview with Hanoi Television, GBA Co-Chairman Mr. Torben Minko shared his insights on the importance and benefits of ESG (environment, society, governance) for businesses and investors. He also discussed the challenges and opportunities for small and medium-sized enterprises (SMEs) in Vietnam to adopt ESG practices and standards. 

Mr. Minko explained that ESG is not only a moral obligation, but also a competitive advantage for businesses, especially in the German market, where customers and regulators demand high ESG standards. He suggested that Vietnam should provide more training, seminars, and support for SMEs to understand and implement ESG, as well as create a favourable environment and incentives for them to do so.

In an interview with JustStyle, Mr. Marko Walde discussed how Vietnam's apparel sector, despite benefiting from trade agreements like EVFTA and UKVFTA, grapples with sustainability commitments. The evolving global trade landscape, driven by the EU's higher environmental standards and the Carbon Border Adjustment Mechanism (CBAM), is pushing local apparel companies towards sustainability. While many have adopted eco-friendly practices, he emphasized the ongoing need for policy and technological support, especially for smaller companies with limited resources. 

To read the full article, kindly visist here>>> 

In a follow-up to the October 11, 2023 article, Ms. Huyen Nhu Lanh of AHK Vietnam and Prof. Andreas Stoffers of Friedrich Naumann Foundation discussed the impact of the German Supply Chain Due Diligence Act (LkSG) on Vietnamese businesses in an interview with VIR. 

As of January 1, 2024, LkSG now covers all German companies with over 1,000 employees, affecting around 2,000 more companies. Ms. Huyen Nhu emphasized that LkSG requires a "duty of effort" instead of an absolute "duty of guarantee," stressing the need for businesses to make reasonable efforts within their capacities to address labor and environmental risks. The interview also highlighted the importance of proactive compliance for industries in Vietnam heavily reliant on global supply chains.  

Check out the full interview right here>>> 

Read the first part of the interview published in October 2023 here>>>  

For more information, kindly visit here>>>

Schwalbe is significantly increasing its production footprint in Vietnam amidst industry challenges. Citing global material shortages, rising transportation costs, and growing demand, Schwalbe has chosen Vietnam for operational consolidation. The consolidation, set for completion by end-2024, aims to boost efficiency and competitiveness. This move not only reaffirms Schwalbe's commitment to quality but also positions Vietnam as a prestigious addition to its global manufacturing network.  

To read the full article, kindly visit here>>> 

AHK Vietnam's team is dedicated to aiding German and international firms in establishing and expanding their operations in Vietnam. Discover more right here>>> 

The German Supply Chain Due Diligence Act (LkSG) entered its second phase on January 1st, 2024, expanding its scope to cover all companies in Germany with over 1,000 employees. The expansion added an estimated 2,000 German companies to the regulatory framework. 

The LkSG was originally passed in 2021 and officially came into effect on January 1st, 2023, requiring German companies to conduct due diligence on human rights and environmental issues in their global supply chains. In the first year, the Federal Office for Economic Affairs and Export Control (BAFA) conducted 486 inspections, with positive results for large companies. However, challenges are anticipated in extending the Act to medium-sized companies due to their limited resources and risk management protocols. BAFA will closely monitor responses to ensure effective implementation. 

AHK Vietnam provides free consulting services to German companies and Vietnamese suppliers on information for complying with and adapting to the LkSG. To learn more about our project, kindly visit here>>> or contact Ms. Huyen Nhu Lanh | Email: lanh.nhu@vietnam.ahk.de 

German Supply Chain Due Diligence Act (LkSG) imposes social and environmental responsibilities on companies. The Federal Office for Economic Affairs and Export Control (BAFA) oversees compliance, enforcing fines for failure to meet due diligence duties. Fines range from €800,000 to 2% of global turnover. Obligated enterprises must appoint individuals for risk management, facing fines of up to €500,000 for non-compliance. 

LkSG mandates a yearly risk analysis meeting set standard. BAFA has authority to subpoena, inspect, and demand actions, backed by financial penalties. Section 15, §1 allows BAFA flexibility in enforcing measures based on company size and effectiveness. 

In 2024, BAFA will demonstrate control rights and enforcement measures. AHK Vietnam offers LkSG consultation to German and Vietnamese businesses. For our service details, kindly visit here>>> or contact directly Ms. Huyen Nhu Lanh | Email: Lanh.Nhu@vietnam.ahk.de  

For more information, kindly visit here>>> 

As of October 1, 2023, the Carbon Border Adjustment Mechanism (CBAM) is in a transitional phase, targeting imports in various sectors. Importers must submit their first quarterly CBAM report by January 31, 2024, covering October to December 2023, with reporting obligations until the end of 2025. 

To assist importers, the Commission adopted the Implementing Regulation on August 17, 2023. Until the close of 2024, companies can choose from three reporting methods; from January 1, 2025, only the EU method will be accepted. 

For CBAM registration guidance, visit CBAM Portal>>>. Additional information from DEHSt is available at here>>> (German language only). 

AHK Vietnam is pleased to help businesses navigate the complexities of this groundbreaking policy and ensure a smooth transition toward a more sustainable future. To learn more about our project, kindly visit here>>> or contact directly Ms. Huyen Nhu Lanh | Email: Lanh.Nhu@vietnam.ahk.de 

For more information, kindly visit here>>> 

A 2023 survey by the German Chamber of Commerce and Industry (DIHK) revealed that 62% of 21,000 businesses face a significant risk due to a shortage of skilled labor. Germany's aging population and low birth rate have led to 1.8 million unfilled jobs.  

Addressing this, AHK Vietnam has supported skilled Vietnamese workers to work in Germany through two projects Prorecognition and Hand in Hand for International Talents. Since implementation, up to now more than 5,000 people have received advice and information support; About 200 young people have successfully come to Germany and many other candidates are in the preparation process. 

For more details, kindly visit here>>>