At a glance
- Company
- Sovico Group
- Announcement
- Partnership
- Location
- Ho Chi Minh City, Vietnam
Key figures
- Airbus aircraft handed over in Hamburg
- more than 100
- Duration of Sovico and partner ties with Germany
- more than three decades
- Period of DEG investment in HDBank
- over the past five years
People
- Nguyen Thi Phuong ThaoSovico Chairwoman
- Peter TschentscherHamburg First Mayor and President of the Senate
- Liv AssmannHamburg State Secretary
Sovico Group and the Free and Hanseatic City of Hamburg, sign a Partnership Agreement on October 13 to expand cooperation in aviation, railways, finance, logistics, technology and education. Earlier that day, Hamburg First Mayor and President of the Senate Peter Tschentscher met Sovico Chairwoman Nguyen Thi Phuong Thao at HDBank's headquarters to discuss cooperation opportunities between businesses in the Sovico ecosystem and German partners.
At the Hamburg–Sovico Strategic Business & Partnership Forum 2026 on October 13, Thao proposed exploring direct air links between Vietnam and Germany and advancing discussions on airport infrastructure, logistics, urban rail, maritime transport and supporting industries. Hamburg highlighted its strengths in aviation, maritime transport, railways, technology research, public transport and sustainable urban development.
Potential areas for further discussion include the Long Thanh and Gia Binh airport projects, high-speed rail, urban rail development in Ho Chi Minh City, Dong Nai and Hanoi, smart cities, green industries and technology. The agreement provides a framework for exploring opportunities; participation in individual projects will require further study and subsequent agreements.
Sovico and its partners have maintained ties with Germany for more than three decades, particularly in aviation and finance. Hamburg has hosted the handover of more than 100 Airbus aircraft to Vietjet, alongside aircraft-financing services. In finance, DEG, a member of Germany's KfW Group, has invested in HDBank over the past five years. HDBank's German Desk also helps connect Vietnamese and German businesses and support bilateral trade and investment.
Thao said Sovico was entering a new investment phase, emphasizing the need for long-term vision, practical investment plans and effective coordination. "I hope the ideas exchanged here today will be translated into cooperation programmes, feasible projects and measurable outcomes," she said.
Hamburg State Secretary Liv Assmann said the visit aimed to deepen existing ties and explore new areas of cooperation. Agreements between universities in Hamburg and Vietnam are also expected to create opportunities for training, professional exchange and workforce development.
Hashtag: #HDBank
The issuer is solely responsible for the content of this announcement.
In brief
Sovico Group and the Free and Hanseatic City of Hamburg have signed an agreement to explore cooperation across aviation, rail, finance, logistics, technology and education. The framework is intended to connect Vietnamese companies with Hamburg’s commercial and industrial network, but projects will need further assessment and separate agreements. At a forum in Hamburg, Sovico Chairwoman Nguyen Thi Phuong Thao raised possible direct air links and discussions involving airport infrastructure, rail, maritime transport and supporting industries. Existing links include Airbus aircraft handovers in Hamburg, aircraft financing and DEG investment in HDBank. The release also points to potential university cooperation for training and workforce development. Hamburg State Secretary Liv Assmann said the visit focused on strengthening established relationships and identifying additional areas to work together.
Key takeaways
- Sovico Group and Hamburg signed a framework agreement covering cooperation across several business and education sectors.
- Possible areas for discussion include airports, rail systems, maritime transport, smart cities and green industries.
- The release says participation in specific projects will depend on further study and separate agreements.
- Existing Germany ties cited include Airbus handovers, aircraft financing and DEG investment in HDBank.
