Page 2 - Marko Walde News Today

STADA and its Vietnamese affiliate Pymepharco announced the official establishment of its new head office in Ho Chi Minh City.

German pharmaceutical giant Stada Group will ramp up drugs production at both its Vietnam factories and significantly boost exports to Europe, says CEO Peter Goldschmidt.

German businesses are expressing more confidence in their development and have increasingly positive expectations for economic growth in Vietnam.

The VDW (German Machine Tool Builders' Association), Frankfurt am Main, staged its third symposium in Vietnam's capital Ho Chi Minh City from 12 to 14 June 2023. Ten German manufacturers showcased innovations in manufacturing technology — machine tools from Germany.

The first German investments flowed into Vietnam shortly after the country opened its doors to foreigners

Since Germany and Vietnam elevated their bilateral relations to a strategic partnership in 2011, the cooperation between the two countries has developed strongly in various fields. According to the Vietnamese Ministry of Planning and Investment, as of December 20, 2022, Germany had over 440 valid projects in Vietnam registered at $2.37 billion, mainly focused on manufacturing, processing, and energy. Currently, about 500 German enterprises are active in Vietnam, creating 50,000 jobs.

Vietnam has been seen as one of the major beneficiaries of the US-China trade war, with firms seeking alternative locations for their factories to avoid costly tariffs.

A free breast screening camp for women is taking place at Deutsches Haus, District 1, Ho Chi Minh City, from January 5 to 11.

By Francesco Guarascio

An anti-corruption drive in Vietnam has paralysed many routine transactions in the country, causing shortages of essential goods and dampening investor confidence in one of Asias fastest growing