Many German investors are interested in central Da Nang city and the number of German businesses investing there has increased remarkably, according to Chairman of the German Business Association (GBA) Elmar Dutt.

More German investors are expected to arrive in Da Nang in the future, particularly after the city and the GBA signed an MoU on supporting investment promotion activities, he said.

The MoU was signed between the GBA and the city’s Investment Promotion and Support Board on June 23.

Da Nang authorities said the city will give priority to investment in projects with advanced technology, modern administration, and innovation, such as those in information technology, electronics production, research and development (R&D), supporting industries, logistics services, tourism services, high-value real estate, finance, healthcare, and education.

Germany is currently Vietnam’s largest trade partner in the EU while Vietnam is the EU’s largest trade partner in Southeast Asia.

Two-way trade turnover between the two countries reached over $12.5 billion last year.

There are 444 German-invested projects in Vietnam at present, with total registered capital of more than $2.3 billion.