Prime Minister Pham Minh Chinh welcomes Adidas's expansion plan in Vietnam

The Vietnamese Government and Prime Minister himself will create favourable conditions for Adidas to expand its operations in Vietnam in the spirit of harmonising interests and sharing risks, Prime Minister Pham Minh Chinh told CEO of Adidas Kasper Rorsted during a reception in Hanoi on October 31, following their phone talks in September 2021 and March 2022.
PM welcomes Adidas's expansion plan in Vietnam
Prime Minister Pham Minh Chinh told CEO of Adidas Kasper Rorsted that the Vietnamese Government welcomes Adidas's expansion plan in Vietnam . (Photo: VNA)

Prime Minister Chinh thanked the German Government, people and Adidas for their invaluable support to Vietnam during the difficult period caused by the COVID-19 pandemic.

He expressed his delight at the development of friendship and multifaceted cooperation between Vietnam and Germany, especially in economy.

Germany is now Vietnam’s biggest European market, the seventh biggest importer in the world and an important gateway for Vietnamese goods. Vietnam is the biggest trade partner of Germany in Southeast Asia, with Adidas contributing a significant amount, he said.

The Prime Minister congratulated Adidas on its positive business results this year, with Vietnam continuing to be its strategic business area and supplier.

According to the government leader, Vietnam is building an independent, self-reliant economy in combination with proactive international integration in a practical and effective manner.

Vietnam is preparing to welcome German Chancellor Olaf Scholz to visit the country in the near future, he said.

Rorsted, for his part, said Adidas will continue expanding its operations and create more jobs to turn Vietnam into its main production hub. He suggested the Vietnamese Government offer more support to Adidas to join in human resource development.

Agreeing with the Adidas expansion plan, the Prime Minister proposed the group make it easier for Vietnamese firms to join high-value stages of Adidas’s global supply chain.

The Prime Minister urged the sportswear giant to prompt the parliaments of the EU member nations to approve the EU-Vietnam Investment Protection Agreement (EVIPA) as soon as possible, underlining the deal will create an important driving force for economic and investment ties between Vietnam and the EU, as well as Adidas’s operations in Vietnam.

He also suggested Adidas support Vietnam in different ways while recommending policies for the Vietnamese Government in the development of digital economy, green growth and delivery of climate change commitments.

CEO of Adidas Rorsted vowed to implement and urge stakeholders to follow Prime Minister Chinh’s proposals.

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(Source: VNA)