Representatives from the BVMW and the provincial Department of Foreign Affairs sign a Memorandum of Understanding to strengthen cooperation in promoting investment in Nghe An province. (Photo: VNA)

During the visit, the delegation had a working session with the Federal Association of Small and Medium-Sized Businesses (BVMW), the largest economic association in Germany.

Hieu briefly introduced the province’s advantages, particularly its strategic position, economic growth and foreign direct investment (FDI) attraction. Nghe An currently has 155 FDI projects, with a total registered capital of 6 billion USD, but there are no projects from Germany.

The official noted that the bilateral import-export turnover between Nghe An and Germany is still quite modest, with exports reaching 54 million USD and imports reaching 6.8 million USD in 2024, not commensurate with the potential and strengths of both sides.

For his part, Director of BVMW's International Markets Reinhold von Ungern-Sternberg, said that German enterprises are aware of the great potential and dynamic economic development in Viet Nam in recent years.

He affirmed that BVMW is interested in expanding foreign partnerships. Seeing the wave of investment reallocation of large corporations in the world to Viet Nam, he realised that Viet Nam is an attractive market for German companies. The association will soon organise a market research visit for its member enterprises, he said.

At the session, representatives from the BVMW and the provincial Department of Foreign Affairs signed a Memorandum of Understanding to strengthen cooperation in promoting investment in Nghe An province.

On May 24 evening, the delegation attended a ceremony marking the 135th birth anniversary of President Ho Chi Minh.