German investors most interested in Vietnam clean energy projects

German investors are most interested in developing renewable energy in Vietnam, a forum has heard.

Speaking at the Vietnam – Germany Economic Forum in Ho Chi Minh City, Vo Quang Hue, CEO of Bosch Vietnam, said German businesses, which are renowned worldwide for clean and renewable energy, especially solar and wind power, could contribute greatly to boost Vietnam’s economic competitiveness.

Oliver Massmann, director of Duane Morris law firm, which has been consulting many German investors, also said most of his customers wanted to invest in renewable energy in Vitenam. But he said inconsistent implementation and understanding of Vietnam’s law system had prevented many investors from entering the local market.

“Vietnamese people have also missed the chance to access green technology since your legal system lacks regulations about renewable energy,” he said.

He suggested the Vietnamese government should allow foreign investors to directly distribute their products in Vietnam to attract more investments to the country.

For her part, German President Angela Merkel said Germany wished to work with Vietnam in many sectors including infrastructure and education.

“We need a trustworthy legal framework and a transparent administrative system from Vietnam,” she said.