German Chancellor Olaf Scholz will pay an official visit to Vietnam on November 13-14, 2022. (Photo: EPA-EFE)

According to an article published on the Konrad Adenauer Stiftung (KAS) institute’s website, the visit aims to promote strategic partnership between the two countries, and create an opportunity to deepen the bilateral relations.

Chancellor Scholz will hold talks with Vietnamese Prime Minister Pham Minh Chinh and meet Party General Secretary Nguyen Phu Trong in Hanoi, the article said, adding that letters of intent to deepen strategic partnership in policy areas such as climate, energy transition, and security - defence are ready for signing.

In Asia, the Chancellor’s visit to Vietnam after Japan and China has demonstrated Vietnam's increasingly important position, KAS said.

With nearly 100 million people, Vietnam is one of the world's fastest-growing economies and Germany's most important trading partner in Southeast Asia, KAS said, adding that the country also joins many regional or bilateral free trade agreements (FTAs) and is an attractive investment destination for many foreign businesses.

Scholz’s Vietnam visit can create more important impetus for economic, trade and investment cooperation, and partnership in energy conversion and environmental and climate protection, between the two countries, the article noted.

Meanwhile, Neues Deutschland newspaper said Vietnam is now an attractive investment destination for German businesses.

The German Chamber of Commerce and Industry highly valued the Vietnamese Government’s great efforts in integrating the country into the global economic community, the newspaper said, adding that the renewal (Doi moi) process Vietnam implemented since 1986 has started considerable development of the Southeast Asian nation.

According to the newspaper, as early as 2007, German businesses saw Vietnam as a developing country on its way to becoming an industrial nation.

Vietnam’s socialist-oriented market economy became attractive to international investors, it said, noting that many German businesses are looking for new investment destinations and Vietnam is a preferred country.