The article said that since Vietnam reopened its borders on March 15, the chamber has been visited almost every week by medium-sized German companies looking for new locations.
Vietnam offers tariff advantages thanks to the Trans-Pacific trade agreement with the US and is the only Asian country, besides Singapore, that has a free trade agreement with the EU.
Internationally active companies are diversifying their supply chains and considering Vietnam as an investment location, the article quoted the Germany Trade & Invest (GTAI) in analysis of the country of 99 million inhabitants.
The Germany Trade & Invest also took Danish toy manufacturer Lego as an example, with the company investing more than 1.2 billion EUR (1.29 billi🔯on USD) in a new factory in Vietnam./.
