Ninh Thuan promotes potential with Frankfurt Chamber of Commerce and Industry

The Ninh Thuan Provincial People's Committee delegation and the Frankfurt Chamber of Commerce and Industry (IHK) held a meeting on June 21 (local time), in the Federal Republic of Germany.

Attendees included Johannes Richter, Director India and Asia Pacific at IHK; Tran Thi Thu Thin, Deputy Director of the Department of Foreign Affairs under the Ministry of Foreign Affairs; Luu Xuan Dong, Consul General of Vietnam in Frankfurt; Nguyen Long Bien, Vice Chairman of the Ninh Thuan Provincial People's Committee; and representatives from various provincial and local leadership departments.

At the meeting, Vice Chairman Nguyen Long Bien highlighted the province's outstanding and unique advantages, which include a coastline spanning 105 kilometers; over 18,000 square kilometers of territorial waters within one of the world's 18 upwelling regions and the only one in Vietnam; and over 196,828 hectares of forest and forestry development land.

Additionally, the province boasts an average wind speed of 7.5 meters per second; and the highest solar radiation in the country at approximately 2,800 hours of sunshine per year. These factors facilitate the development of renewable energy, marine economy, tourism, high-tech agriculture, aquaculture, fisheries exploitation, large-scale industrial salt production, deep-water ports, coastal industries, and logistics services.

"To date, the province has attracted investment into 57 power projects (solar, wind, hydropower) with a total capacity of 3,750MW. Notably, local electricity production reached nearly 8 billion kWh in 2023. According to the National Power Development Plan VIII, Ninh Thuan province is expected to, by 2030, produce an additional 9,223MW of power through key projects that will drive provincial development. These projects include Ca Na LNG with 1,500MW; pumped-storage hydropower with 2,400MW, onshore and nearshore wind power with 554MW. The Plan also projected that Vietnam will produce 6,000MW of power through offshore wind power by 2030, with approximately 2,000MW in the South Central region," Vice Chairman Nguyen Long Bien stated.

According to Vice Chairman Nguyen Long Bien, following the establishment of diplomatic relations, Germany has become Vietnam's largest trading partner within the European Union; as well as a leading economic partner within the Union. The bilateral relations between Vietnam and Germany holds considerable potential for development across various fields of cooperation.

"Ninh Thuan province has received three non-refundable aid projects from non-governmental organizations in the Federal Republic of Germany over the years, with a total capital of 57,328 USD. The province has also received ODA funds from the German government to upgrade the local Vocational Secondary School, led by Ninh Thuan Vocational College with a total investment capital of 22.4 million USD. The project was implemented from 2011 to 2018," Vice Chairman Nguyen Long Bien reported.

With the goal of enhancing cooperation, Ninh Thuan aims to attract investment into the energy sector, renewable energy, high-quality tourism, processing industry, high-tech agriculture, high-quality human resource training, green growth and climate change resilience.

Notably, the province will focus on reducing emissions and strengthening forestry finance through the commercial transfer of forest carbon credits, thereby contributing to the livelihoods of forest owners and local communities while protecting the environment.

The delegation expressed hope that Johannes Richter and the Vietnamese Consulate General in Frankfurt will serve as a bridge to promote the image, potential, and advantages of Ninh Thuan to investors and businesses in Germany.

"We respectfully invite the leadership of the Federal Republic of Germany and their associates to visit Ninh Thuan province, where we can meet, exchange ideas, explore the local conditions and discuss plans to utilize the potential and strengths of both countries," emphasized Vice Chairman Nguyen Long Bien. He added that Ninh Thuan is committed to facilitating German investors and businesses in their research, survey, and investment connection; in addition to providing the most beneficial investment incentives while complying with Vietnamese regulations.

During the meeting, Director Johannes Richter highlighted that IHK is currently supporting nearly 104,000 members, including 22,000 companies engaged in international commercial activities, with 250 Vietnamese companies operating in Frankfurt, the largest business community in Germany.

The director was highly impressed with Ninh Thuan's level of economic development, with the inclusion of new sectors, such as energy and renewable energy, aimed at reducing emissions and enhancing forestry finance through the commercial transfer of forest carbon credits.

As part of the program, the Ninh Thuan Provincial People's Committee delegation, along with representatives from the provinces of Hoa Binh, Dak Nong, and Phu Yen, visited and held meetings with the Minister of Finance of the State of Hessen, the Minister of Federal and European Affairs of the State of Hessen, Precitec Company, and Aqseptence Group Technology Group to survey, explore, and introduce potential and opportunities for future collaboration.