Adidas to expand investment in Vietnam: CEO Kasper Rorsted

This image shows Adidas CEO Kasper Rorsted (L) shaking hands with Vietnamese Prime Minister Pham Minh Chinh at their meeting in Ha Noi on October 31, 2022. Photo: Vietnam News Agency

Adidas CEO Kasper Rorsted stated that at his recent meeting with Vietnamese Prime Minister (PM) Pham Minh Chinh.

The leader of Adidas sportswear giant was speaking when meeting with PM Chinh in Ha Noi on Monday, following their two previous phone talks in September 2021 and March this year, the Vietnam News Agency reported.  

Adidas CEO Rorsted congratulated and expressed admiration for Vietnam’s achievements in COVID-19 prevention and control and socio-economic recovery and development, especially in controlling inflation and achieving impressive economic growth.

The group’s leader said Adidas will continue investing in expanding its business operations in Vietnam, as well as creating more jobs there, to turn the country into one of the key production centers of Adidas.

He also suggested that the Vietnamese government create conditions for Adidas to participate more in training human resources for Vietnam.

The Vietnamese government chief congratulated Adidas on having very positive business results in 2022, with Vietnam continuing to be among the group’s leading strategic business areas and suppliers. 

The group’s business growth in Vietnam boosted the country’s socio-economic development as well as the cooperative relations between Germany and Vietnam, Chinh stated. 

The PM thanked the German government and people, and Adidas for their invaluable support for Vietnam during the difficult period caused by the COVID-19 pandemic, contributing to the country’s ongoing economic recovery. 

Vietnam has basically stabilized its macro-economy, put inflation under control, and achieved an economic growth rate that is among the highest in the region in the first nine months of 2022, Chinh said.

He told his guest that Vietnam is building an independent and self-reliant economy associated with deep, proactive, and efficient international integration. 

Along with the Vietnamese government’s support, he always creates favorable conditions for Adidas to maintain, expand, and develop its business in Vietnam, on the principle of 'harmonious benefits, shared risks,' Chinh affirmed.

He said he supports Adidas’s business expansion plan as well as its suggestion to take part in human resources improvement, especially vocational skill training for Vietnamese workers.

Along with its development course, Adidas should facilitate more Vietnamese enterprises to join the manufacturing stages creating high values in the group’s global supply chain, Chinh suggested.

The PM asked the sportswear conglomerate to maneuver the legislatures of the EU member countries to soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA), which he said will create a strong driving force for bilateral investment ties, as well as for Adidas’s operations in Vietnam.

He also called on Adidas to recommend policies for the Vietnamese government to develop a digital economy, achieve green growth, and realize its climate change commitments.

The PM added that Vietnam is preparing to welcome the German chancellor to visit Vietnam in the near future.

CEO Rorsted expressed his belief in the fruitful development cooperation between Vietnam and Germany in general and Adidas in particular. 

He confirmed that he will personally implement PM Chinh’s suggestions and will call on other stakeholders to follow suit.

Currently, Germany is Vietnam's largest market in Europe and Vietnam's seventh-largest export market in the world, serving as an important gateway for Vietnamese goods to enter other markets in Europe. 

Meanwhile, Vietnam is Germany’s largest trading partner in Southeast Asia.

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