Dung said Vietnam is Germany’s third largest recipient of development cooperation capital in Asia after India and China, and the European nation is Vietnam’s third largest bilateral aid donor, trailing behind Japan and France.

Germany has financed many important projects in Vietnam, including drafting laws on budget, tax, environmental protection, fees and charges, as well as projects on green growth, which have been implemented effectively, having a positive impact on budget and corporate finance management.

The Ministry of Finance hopes to receive more support from the German Agency for International Cooperation (GIZ) to carry out GIZ-funded projects in Vietnam, Dung said.

For his part, Wolfgang said German businesses operatingin Vietnam spoke highly of the country’s business environment and added that the two countries should further strengthen cooperation in customs.

In 2012, the two countries’ customs agencies signed a joint statement on promoting their coordination capacity, creating a firm foundation for future cooperation.