Thai Binh boosts investment, trade cooperation with Germany

Berlin – A delegation from the northern province of Thai Binh, led by Deputy Secretary of the provincial Party Committee Nguyen Khac Than, visited several localities and business organisations in Germany from March 25 to 27, in a bid to enhance trade cooperation with and attract direct investment from the European nation.

While in Germany, the delegation held a working session with the authorities of Hanover, the capital and largest city of Lower Saxony state.

Speaking at the event, Than, who is also Chairman of the Thai Binh People’s Committee, expressed his wish to promote cooperation between the province and Hanover in the coming time.

Thai Binh also seeks to attract German investment in such fields as healthcare, pharmaceuticals, and labour cooperation, he noted, adding that the province plans to establish the first biopharmaceutical industrial park in Vietnam.

Than and Mayor of Hanover Thomas Hermann also witnessed the signing of a memorandum of understanding on cooperation between the provincial Department of Planning and Investment and Hannoverimpuls GmbH – the economic development agency of the city and Hanover region.

Accordingly, both sides agreed to collaborate in supporting companies from the Hanover region to expand business activities in Thai Binh, and vice versa. They also concurred to cooperate in exchanging information and business delegations, organising and participating in conferences and seminars, providing consulting services on the current situation and prospects of industries, and supporting the search for partners in marketing, science, and technology.

The delegation then worked with the Chamber of Commerce Hannover to introduce the province and its investment opportunities.

They also organised a forum for investment and business connection between Thai Binh and Lower Saxony, attended by about 30 German companies.

The Thai Binh liquefied natural gas (LNG) project is located in Thai Binh Economic Zone, and will have a designed capacity of 1500MW. The investment consortium behind the project is responsible for nearly $2 billion in funding and consists of Tokyo Gas, Kyuden, and Truong Thanh Vietnam Group.

With an eagle’s eye on the northern province’s potential and advantages, Thai Binh’s official planning strategy aims to boost its development and provide it with a modern economic structure.

Swiss companies are exploring investment and cooperation opportunities in Thai Binh to tap into the northern province's rising economy.