Overview

• German President Frank-Walter Steinmeier is visiting Vietnam accompanied by a business delegation, including Labor Minister Hubertus Heil and leaders from top German industrial firms.
• The visit is part of Germany's strategy to de-risk from China and diversify its economic relations.
• Steinmeier and Heil are expected to sign a memorandum of understanding with their Vietnamese counterparts to facilitate the transfer of skilled Vietnamese workers to Germany.
• German companies, including Herrenknecht, Knauf, Tesa, and PNE AG, have already invested over $3 billion in Vietnam and are looking to expand their presence.
• After his visit to Hanoi, Steinmeier is scheduled to visit Ho Chi Minh City, Vietnam's economic hub.