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Asia
By pursuing a policy of gradual 'national renewal' (Doi Moi), Viet Nam has achieved remarkable economic results over the last twenty years. Conditions for private-sector activity and international investment have improved significantly, and export business has developed well. The country has one of the fastest growing economies in the world. Average growth over the last ten years has been around seven per cent. Since the end of 2007, though, the country has had to face difficulties: deficits have arisen in foreign trade, and both the inflation rate and food prices are rising.
The economic crisis of 2008/2009 therefore dealt Viet Nam a painful blow, as economic growth declined significantly. Since then a situation of relative economic calm has returned, and the measures introduced by the government – such as an initially restrictive monetary policy that from late 2008 onward became an expansive policy, plus an extensive economic stimulus programme – have taken effect. For 2010, economic growth of over six per cent is anticipated. The government is therefore sticking to its ambitious goal of attaining the status of an industrialised country by 2020.
In the sphere of foreign policy, Viet Nam is endeavouring to deepen its relationships with neighbouring countries. In late 2008, for instance, Viet Nam reached agreement with China on the mainland border shared by the two countries. Viet Nam now also plays an increasingly active role in the Association of Southeast Asian Nations (ASEAN). By organising various international conferences, Viet Nam has raised its international profile in recent years. Japan, China, the EU, the USA and South Korea are key partners for trade and investment.
Vietnamese-German relations
Relations between Viet Nam and Germany are good. Bilateral development cooperation was resumed in 1990, since when it has achieved a total financial scope of around a billion euros. It focuses on the three areas of sustainable economic development, environmental protection and resource conservation, and health.
The volume of trade between the two countries has risen sharply in recent years – Germany has been Viet Nam’s largest trading partner within the EU for many years. Germany’s main imports from Viet Nam are textiles, shoes, coffee and fisheries products. Germany’s chief exports to Viet Nam are machinery, motor vehicles and semi-finished products for light industry.
Above and beyond the good relations between the two states, Viet Nam and Germany are also connected through close personal contacts. More than 70,000 Vietnamese trained, studied or worked in the former German Democratic Republic. Many of them have since returned to Viet Nam. They speak German and some remain in touch with German companies and research institutes, while others are involved in Vietnamese-German development cooperation. Some 100,000 Vietnamese currently live in Germany. There is thus a unique bridge between the two countries and this is reflected in a wide range of scientific and cultural cooperation agreements. The year 2010 marks the 35th anniversary of the assumption of diplomatic relations. Under the slogan 'Viet Nam in Germany – Germany in Viet Nam', special events are being held in both countries in appreciation of the mutual political, social and political ties.
German Embassy
German Embassy in Viet Nam
29, Tran Phu
Hanoi
Viet Nam
Phone: +84 / 4 / 3 845 38 36
Fax: +84 / 4 / 3 845 38 38
