With its over 100 million inhabitants, Vietnam is Germany's second most important trading partner in Southeast Asia after Malaysia. As a non-aligned state, the country cannot be assigned to either the West or the so-called Global South. Its foreign trade strategy is often described in the trade press as "bamboo policy“. Here, the bamboo symbolically stands for the three principles:
- Strong roots → Rooted in national interests and traditions
- Stability in the trunk → Adherence to principles, independence, self-determination
- Flexibility in the branches → Adaptability, pragmatic openness
Vietnam's goal here is not to bind itself to individual power blocs in an increasingly multipolar world, but to work in a balanced way with all partners – also economically. The country also benefits from the "China Plus One" strategy of many East Asian and Western companies and is currently establishing itself as one of Asia's most dynamic markets.
After Trump imposed tariffs on Chinese imports during his first term, many companies (including international corporations such as Apple, Samsung, or Nike) relocated their production to Vietnam or Cambodia, which resulted in the USA building up one of the highest trade deficits with Vietnam. Accordingly, the development of US tariffs will be significant for the country.
The strong economic development, combined with numerous free trade agreements, a young, emerging population, and growing demand for technology, mechanical engineering, environmental technology, and agricultural products, makes Vietnam an ideal partner for Thuringian SMEs as well.
To better understand the advantages, but also the challenges, of this market and to exchange ideas with other players in the Vietnam business, Thüringen International, together with IHK Südthüringen, is organizing the Vietnam Day 2025. The focus here is on questions regarding market development and business establishment in Vietnam as well as the recruitment of trainees and skilled workers for Thuringia. Further information and registration options can be found on the Website.
On the occasion of the 50th anniversary of diplomatic relations between Germany and Vietnam, the Project Career-Truck. Under the patronage of the German Embassy in Hanoi and other important stakeholders, the Career-Truck informs the Vietnamese public about training and career opportunities in Germany along its route through the entire country during 2025. The goals are to strengthen bilateral cooperation in the field of labor migration and to expand access for young Vietnamese to the German labor market. The Free State is an official supporter of this project and presents living and working conditions in Thuringia as well as projects for attracting trainees and skilled workers.
For further questions about the presented activities and the Vietnamese market, please contact our project manager for South and Southeast Asia, Anita Spiegler.
