German Business Incubator Vietnam, operated by the Delegate of German Industry and Commerce in Vietnam (AHK Vietnam), and German Centre for Industry and Trade GmbH, a member of Landesbank Baden-Württemberg (LBBW), signed a cooperation agreement in March 2019. With that cooperation, both institutions support German companies in their ventures into the Southeast Asian region, which is more and more developing into a real heavyweight throughout Asia.
Marko Walde, Chief Representative of AHK Vietnam, is convinced that “the Free Trade Agreement of the EU with Singapore and Vietnam will further boost German direct investments into Vietnam. Today, more than 300 German companies are located in Vietnam. In addition to that more and more German companies are relocating their production from China into other Asian countries.” With steady GDP growth rates of five percent, ASEAN could develop into the fifth largest economy of the world by 2022. The German Business Incubator Vietnam offers small offices and flexible workspace on 350 square meters. Being closely connected to AHK Vietnam, companies have access to advice, networks and business events.
“More and more German companies appreciate Vietnam as an attractive location in Southeast Asia, which with a population of 625 million is a huge key market. Today, many companies even have their Asian headquarters in one of the ASEAN countries. German companies will benefit from the cooperation between German Business Incubator and the German Centres, in particular those in Beijing and Singapore, not only by sharing the respective local infrastructure but also by getting connected beyond national markets,“ says Christian Ricken, member of LBBW’s Board of Managing Directors in charge of International Business.
The German Centre for Industry and Trade GmbH maintains German Centres in China, Mexico, Russia and Singapore. In more than 20 years, the German Centres have supported around 1,500 companies venturing abroad and establishing a company with offices, advice and networks. The German Centres are members of LBBW, a mid-sized universal bank, with a network of 17 locations worldwide, one being LBBW’s representative office in Hanoi, Vietnam.
The Delegate of German Industry and Commerce in Vietnam (GIC/AHK Vietnam) is a representative of the German Chamber of Industry and Commerce (DIHK) in the AHK network and has been actively supporting the economic exchange between Vietnam and Germany since 1993. GIC/AHK Vietnam is present in the two most important cities of Vietnam in terms of economy, i.e. Ho Chi Minh City and Hanoi, so that - under the brand “DEinternational”- it can provide extensive advice and on-the-spot support to German companies with a competent team of 24 Vietnamese and German employees.