German Businesses in Vietnam reply positive on VN’s economic outlook

German business overall is positive on the economic outlook in Vietnam, reported by the German ASEAN Chamber Network (GACN) from a survey 2014.

Accordingly, German companies are well positioned in Vietnam market with high expectations for 2015 in sales, production, workforce demand, capital expenditures. High qualified technical staff is difficult to find, almost German firms offer training programs to their staff and 70 percent of them believe that German dual vocational training would be an option.

70 percent of them confirmed positive market development over the past year and a good current situation lead to a more positive outlook than in 2013, concerning overall economy, capital expenditures, private consumption and business consumption in Vietnam.

The assessment by the German companies in Vietnam of the developments of the past and the expectations for the future show a strong market position. Around 50 percent have done better compared to last year and expect to continue this strong run, especially on the sales side where 56 percent of the respondents forecast an increase over the next 12 months.

70 percent of the German companies in Vietnam have responded that they have great difficult to find qualified employees with a university level training.

At the vocational level the value is lower with 46 percent but still indicate that there is an important supply shortage. In the area of non-technical staff the situation is better, but still far from optimal. To ease negative impacts on the companies’ performance almost all companies have installed in-house training programs (86 percent) and collaborate with training providers (57 percent).

70 percent of the German companies in Vietnam replied positive, responding to the question whether they would participate in a dual vocational training program based on the German model. The dual vocational model provides the participating companies with a high degree on influence of delivering the training aligned with their business and production process complemented by theoretical knowledge acquired at a training school. Such trainings are based on government approved curricula within a stringent quality control framework.

By Le Tran

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