On December 6th 2016, Vice Chairman of Danang People's Committee Ho Ky Minh had a meeting with the delegation from the state of Sachsen-Anhalt of Germany, led by Thomas Wunsch, Secretary of Ministry of Economy, Science and Digitalisation.
At the meeting, Mr Wunsch confirmed their continued enthusiasm in promoting cooperation between the two countries in general and between Sachsen-Anhalt and Danang in particular. With a population of 2.3 million, economic growth rate of 1.7% and SMEs accounting for 59% of total businesses, Saxony-Anhalt's economic strength relies on chemical industry, manufacturing machinery, supporting industry for automotive, agricultural products and nutrition and supplements. It is also a popular tourist destination for rich culture, history and heritage and has a reputation for education and training, attracting many Vietnamese students coming to study. Mr Wunsch remarked that the key to strong and sustainable economic development was to boost export and innovation. Also, the State Government was very interested in supporting local businesses, especially start-ups. Estimated 160 million euros was invested in R& D, subsidies, purchasing of machinery and products of small and newly established enterprises annually, which is expected to increase to 500 million euros in the coming years.
Vice Chairman Ho Ky Minh highly appreciated the cooperation between Germany and Danang in recent years, especially German investment funds and ODA for projects regarding environmental technology, transport planning and sustainability in the city. He stated that Danang would focus on developing tourism, service industries, hi-tech and start-up movement and also expressed the hope that Saxony-Anhalt, on the ground of sharing numerous similarities with Danang city, would strengthen cooperation; enhance experience sharing and promote technology transfer in these fields. According to Mr. Wunsch, German firms, including those in the State of Saxony-Anhalt, are looking for business investment opportunities in the city.
Secretaty Wunsch also shared that one of the keys to the state's economy's success is the perpetual support and nurturing of local businesses through each of their developing stages from start-ups to growing strong development.
Translated by Ngoc Thao – IPC Danang
