16:51 (GMT +7) - Wednesday 21/08/2019

Business

New German investments in pipeline

Released at: 17:42, 09/08/2019

New German investments in pipeline

Photo: TTXVN

PM meets with senior German business leaders over upcoming projects.

by Doanh Doanh

Prime Minister Nguyen Xuan Phuc hosted a reception for Mr. Horst Geicke, Chairman of Deutsches Haus, and Mr. Horst Pudwill, Chairman of Techtronic Industries (TTI) and Co-Chairman of Deutsches Haus on August 6, to kick start a new wave of German investments into Vietnam.

Mr. Pudwill presented a plan for a $650-million project at the Saigon High-Tech Park that focuses on manufacturing and R&D for smart power tools.

Mr. Geicke proposed investing over $22 million with funding and support from the German parliament to build a “German Education Campus” including the International German School Ho Chi Minh City (IGS) with up to 600 students and a German Vocational Training Center to train highly skilled workers for the future in Vietnam and Germany.

Due to the success of the award-winning premium office-building Deutsches Haus, Mr. Geicke proposed a second German House that would become a “German Innovation Hub” for startups and accelerate high-tech companies and the latest technologies.

Previously, on August 5, German investors of Deutsches Haus met the Secretary of the Ho Chi Minh City Party Committee Professor Nguyen Thien Nhan to propose these plans.

Deutsches Haus Ho Chi Minh City is a pioneering premium Grade A+ office tower strategically located on the corner of Le Duan and Le Van Huu Streets in the heart of Ho Chi Minh City. The 25-story building consists of approximately 30,000 net sq m of prime space and is home to the Consulate General of Germany, making it a destination for German companies and promoting relations between the two countries.

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