Tay Ninh signs $2.1 billion in cooperation agreements with German partners

The event was co-organized by the Tay Ninh Provincial People's Committee in coordination with the Vietnamese Embassy in Germany, the Stuttgart Chamber of Industry and Commerce (IHK Stuttgart), and the German Asia-Pacific Business Association (OAV). The conference brought together senior provincial officials, Vietnamese diplomatic representatives, and German enterprise leaders and investors to explore cooperation opportunities across key sectors of the provincial economy.

Addressing the conference, Nguyen Van Quyet, Secretary of the Tay Ninh Provincial Party Committee, affirmed that the province is orienting the development of a new generation of industrial zones in a green, smart, and sustainable direction, with priority given to attracting high-technology industries, supporting industries, research and development centers, semiconductors, automation, and digital transformation.

He noted that with its strategic location, increasingly complete transport connectivity, abundant industrial land reserves, and continuously improving investment environment, Tay Ninh aspires to become a preferred destination for German enterprises in the current wave of investment relocation into Asia. Baden-Württemberg, home to globally recognized industrial champions in automotive manufacturing and mechanical engineering, represents a particularly significant partner for a province seeking to upgrade its industrial base along similar lines.

Nguyen Dac Thanh, Vietnam's Ambassador to Germany, described Tay Ninh as a dynamic locality with high economic growth momentum and a development orientation well aligned with the current investment expansion needs of German enterprises. His remarks reflected the broader diplomatic context in which Vietnam and Germany have deepened trade and investment ties in recent years, with Germany consistently ranking among Vietnam's largest European trading partners.

The scale of Tay Ninh's recent investment performance was highlighted by Huynh Van Son, Vice Chairman of the Provincial People's Committee, who said that in the first five months of 2026 alone, the province ranked fourth nationally in attracting foreign direct investment, drawing in nearly $2 billion in newly registered capital, a year-on-year increase of 94.5 percent. The province currently has more than 2,190 active FDI projects with total registered capital exceeding $27.5 billion, placing it firmly among Vietnam's leading investment destinations.

German enterprises at the conference expressed strong appreciation for Tay Ninh's investment potential, particularly in manufacturing, renewable energy, and high-tech agriculture, sectors in which German companies hold internationally recognized technological expertise and are actively seeking partnerships across Southeast Asia.

The highlight of the event was a signing ceremony for large-scale cooperation agreements between enterprises from both countries. The most prominent agreement was reached between VFT Bio Fuels Group and IMG Phuoc Dong Joint Stock Company to jointly study and develop a Green Steel and Bioenergy Complex in Tay Ninh, with projected total investment of approximately $2 billion. The project reflects growing global interest in green steel production, a sector where hydrogen-based and biomass-based technologies are rapidly advancing, and positions Tay Ninh as a potential hub for clean industrial development in southern Vietnam.

In a separate agreement, Hung Nhon Group and Big Dutchman AG, a globally recognized German leader in livestock equipment and agricultural technology with operations spanning more than 100 countries, signed a strategic cooperation framework to implement agricultural projects in Tay Ninh with a combined value of approximately $100 million. The partnership is expected to introduce advanced large-scale farming systems to the province, supporting its ambitions in high-tech agricultural development.

With total cooperation agreements valued at more than $2.1 billion, the Stuttgart conference delivered substantive results that lay a concrete foundation for attracting large-scale projects across strategic sectors. The outcomes further affirm the strength of Tay Ninh's investment environment on the international stage and contribute to deepening economic cooperation between the province and its German and European partners, ties that are expected to play an increasingly important role in the province's long-term development strategy.

Germany is Vietnam's largest trading partner in Europe and one of its most significant sources of advanced industrial technology. Bilateral trade between the two countries exceeded $10 billion in recent years, with German enterprises increasingly active across Vietnam's manufacturing, energy, and agriculture sectors.