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On behalf of the German Federal Government, Gisela Hammerschmidt, Deputy Director-General at the Federal Ministry for Economic Cooperation and Development (BMZ), pledged a total of €185.5 million for development projects over the next two years. This was the outcome of the bilateral government negotiations between Germany and Vietnam, held from 26 to 28 November in Hanoi and headed on the Vietnamese side by Mr. Hoang Hai, Deputy Director General of the Department of Debt Management and External Economic Relations at the Ministry of Finance. Of this amount, €25.5 million was committed for advisory projects under technical cooperation. In addition, Germany will provide €160 million for sustainable investments in enterprises.

Both countries aim to deepen their collaboration in the fields of renewable energy and vocational training. A new focus will be placed on closer cooperation with the private sector. Economically and development-politically, Germany is already Vietnam’s most important partner in Europe — and this partnership will now become even more closely aligned.

Furthermore, an important breakthrough was achieved with the agreement on the Technical Cooperation Guidelines (TC-Guidelines), which foresee a significant acceleration and improved coordination of procedures for project appraisal and implementation, as well as greater efficiency in cooperation at project level.

With these new commitments, Germany is further expanding its support for Vietnam in the 50th year of establishing bilateral relations. Since the beginning of development cooperation, Germany has provided Vietnam with more than €3 billion.