Local German economy complains about loss of confidence



Olaf Scholz

The Chancellor is expected in Hanoi on Sunday.

(Photo: IMAGO/Chris Emil Janssen)

Bangkok Build new production capacities in Vietnam instead of in China and become more independent of the People’s Republic: This is currently on the agenda of many German companies. According to business representatives from Germany, there have been commitments for around a dozen new German factories in the country since mid-March alone. The companies are trying to Risks from China’s corona lockdowns and dodging through geopolitical tensions.

The growing German involvement in Vietnam will be flanked by a visit from the Federal Chancellor at the weekend Olaf Scholz (SPD), who is expected on Sunday together with a business delegation in the capital Hanoi.

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