On November 21, German Industry and Commerce in Vietnam (AHK Vietnam) announced a survey result of the AHK World Business Outlook Fall 2023 which was conducted between September 25 and October 20, 2023 based on assessments from more than 3,600 German businesses related to business operation, expectations, investment activities and types of risk that German companies in Vietnam might face.
According to the reports, the biggest economy in Europe had 26 investment projects worth nearly US$221.5 million in Vietnam in the first ten months of 2023, showing that German businesses have high expectations in the Vietnamese market and Vietnam is becoming a promising investment destination for businesses in Asia.
Along with that, the survey showed that German businesses have tended to implement the China Plus One Strategy, focusing on green investment projects.
The Vietnamese market is ready to welcome and support such projects by providing a platform for growth and diversification as well as implementing sustainable business activities.
According to the assessments of businesses, the current global economy has not shown any signs of recovery yet with higher inflation rates and prices of some goods and energy.
German companies in Vietnam are facing many challenges from a decline in global demand to the shortage of skilled labor together with supply chain disruption and so on.
Regarding investment plans, the survey showed that 42 percent of German companies in Vietnam have prioritized the strategy of diversifying production and manufacturing activities. Sales and marketing, service and logistics are also considered important sectors.
The infographic about survey results (Source: AHK Vietnam)
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