Governor Stoiber, who is on a three-day visit to Vietnam, starting on March 27, said that Vietnam has undergone vigorous change with a comprehensive economic renovation. He highlighted the country's young population as an advantage for its socio-economic development.

He stressed that Vietnam's plans to invest in infrastructure such as airports, power plants, metro systems, and water supply and drainage systems will provide great opportunities for German businesses, especially those from Bayern.

Vietnam has become an appealing destination for European investors, including those from Germany. The Bayern governor also spoke highly of Vietnam's commitment to protecting the environment while developing its economy.

In another development, a Vietnam-Germany Business Forum was held in Hanoi on the same day with the participation of 30 leading businesses of Germany's state of Bayern.

Speaking at the forum, Hans Spitzner, Secretary of State of the Bavarian Ministry of Economic Affairs, Infrastructure, Transport and Technology, said he believes that relations between the state of Bayern and Vietnam will be enhanced in the near future.

The German entrepreneurs expressed their interest in Vietnam's Labour Law, human resource training and policy on importing electronics. They said they want to cooperate with the Vietnamese partners in electronics, banking, medical equipment, machine manufacturing and information technology.

Germany is Vietnam's leading partner within the European Union, with two-way trade reaching US$2 billion, including US$350 million from the state of Bayern.

So far, Germany has poured US$400 million into 70 projects in Vietnam.

VOVNews/VNA