With 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 categorized as either Western or part of the so-called Global South. Its foreign trade strategy is often described in the trade press as the "Bamboo Policy," where bamboo symbolizes three key principles:
- Strong roots → Rootedness 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 in this increasingly multipolar world is not to become entangled with individual power blocs, but rather to cooperate in a balanced way with all partners – including economically. Furthermore, the country 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 like Apple, Samsung, and Nike) shifted their production to Vietnam or Cambodia, resulting in one of the highest US trade deficits with Vietnam. The development of US tariffs will therefore be highly significant for the country.
The strong economic development, coupled with numerous free trade agreements, a young, up-and-coming population, and a growing demand for technology, mechanical engineering, environmental technology, and agricultural products, makes Vietnam an ideal partner for Thuringian SMEs as well.
To gain a better understanding of the advantages and challenges of this market, and to exchange ideas with other players in the Vietnam business, Thüringen International, together with the Chamber of Industry and Commerce of Southern Thuringia, is organizing the following event on August 7th: Vietnam Day 2025The focus here is on questions regarding market development and business setup in Vietnam, as well as recruiting trainees and skilled workers for Thuringia. Further information and registration details can be found on the [website/link missing] Website.
To mark the 50th anniversary of diplomatic relations between Germany and Vietnam, the Project Career - TruckUnder the patronage of the German Embassy in Hanoi and other key stakeholders, the Career Truck will travel throughout Vietnam in 2025, informing the Vietnamese public about training and career opportunities in Germany. The goals are to strengthen bilateral cooperation in the area of labor migration and to expand access to the German labor market for young Vietnamese people. The Free State of Thuringia is an official supporter of this project and will present living and working conditions in Thuringia as well as projects aimed at recruiting trainees and skilled workers.
For further questions regarding the activities presented and the Vietnamese market, please contact our project manager for South and Southeast Asia Anita Spiegler.
