The German Agency for International Cooperation (GIZ), German development bank KfW Group, and the Federal Institute for Geosciences and Natural Resources (BGR) on Wednesday held a reception to mark the opening of a joint office on Wednesday in HCMC.

The event was joined by Dr. Hans-Dieter Stell, Consul General of the Federal Republic of Germany; Jochem Lange, Director of GIZ Vietnam, and other international and local guests.

The new office will coordinate and increase the number of joint programs run by the three institutions in the Mekong Delta and Ho Chi Minh City.

At the opening ceremony, Consul General Stell praised the intentions of the three German institutions in developing relationships and partnerships with local businesses through the support of the new office in the economic center of Ho Chi Minh City.

In development cooperation with Vietnam, the Federal Republic of Germany supported the efforts of the private sector in seeking business opportunities, Stell said.

For years, Vietnam has been an important partner of Germany in its development policy. Both countries have focused on development cooperation policies in the fields of vocational training, power and environment, he said.

The goal is to achieve economic growth in Vietnam in a sustainable manner, balancing social needs and being competitive in the regional and international markets, he added.

GIZ is an international enterprise owned by the German Federal Government operating in many fields across more than 130 countries. It primarily works with states, state agencies and the private sector.

The Federal Institute for Geosciences and Natural Resources is the central geoscientific authority providing advice to the German Federal Government in all geo-relevant questions. It is subordinate to the Federal Ministry for Economic Affairs and Energy (BMWi).

KfW Group has been supporting change and encouraging forward-looking ideas in Germany, Europe and throughout the world since its founding in 1948, and according to its statutory mission, it has provided nearly one trillion euros in loans over 65 years.