A delegation of enterprises from Styria, the second biggest in term of area and the fourth populous state of Austria, arrived in Vietnam last weekend to learn more about business opportunities in the Southeast Asian country.
Vienna (VNA) - A delegation of enterprises from Styria,the second biggest in term of area and the fourth populous state of Austria,arrived in Vietnam last weekend to learn more about business opportunities in the Southeast Asian country.
The delegation was led by Regional Minister for ForeignAffairs Barbara Eibinger-Miedl.
🌱 An article recently published on Austria’s Kronen Zeitungnewspaper said the Vietnamese economy is booming with the presence of more andmore foreign firms and investors, which is a trend that firms in Styria do notwant to miss.
Kronen Zeitung newspaper covers the Vietnam visit by Regional Minister for Foreign Affairs Barbara Eibinger-Miedl. (Photo: VNA)
It quoted Eibinger-Miedl as saying that there are ample opportunities for Austrian firms to investin Vietnam in energy technology and environment, design and construction, aswell as green technologies.
Chief Executive of the Internationalisation Centre Styria RobertBrugger said after 2 years of closure due to COVID-19 pandemic, now is the righttime for Styria to rise again while Vietnam has also returned to its growthtrajectory in a spectacular way. He quoted experts as saying that thatVietnam's economy could grow by 7% annually and Austrian businesses want to seekopportunities there.
According to the article,Vietnam’s industry is growing strongly with the emergence of new factories,especially those in Hanoi and Ho Chi Minh City. Therefore, the potential of cooperationrelated to infrastructure and environment solutions is huge.
So far, a number of Austrianfirms are doing well in Vietnam, namely equipment manufacturerAndritz, power train system developer EVL List, steel maker Voestalpine,among others.
Data from the Austrian Federal Economic Chamber (WKO) showedthat in 2021, Styria exported 28 million EUR worth of goods to Vietnam whilespending 147 million EUR on imports from the country.
During a seminar recentlyheld by WKO in Vienna, WKO Regional Manager for Asia Christina-MariaSchösser hailed Vietnam as a rapid and stable growing economy that boastsfavourable conditions for Austrian firms.
💮 Over the past years, Vietnam has become the third biggestimporter of Austria in Asia and a promising market for Austrian projects, shesaid./.
The Vietnam - Austria relations have been consolidated and developed continuously despite effects of the COVID-19 pandemic, said Vietnamese Ambassador to Austria and permanent representative of Vietnam to international organisation in Vienna Nguyen Trung Kien.
Austria was one of the first western countries to set up diplomatic ties with Vietnam. Fifty years have passed since the establishment of the relationship, the two countries have enjoyed great strides in bilateral cooperation.
Foreign Minister Bui Thanh Son paid an official visit to Austria on September 28 and 29, which is an important event when the two countries are marking the 50th anniversary of their diplomatic ties (1972-2022).
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Kronen Zeitung newspaper covers the Vietnam visit by Regional Minister for Foreign Affairs Barbara Eibinger-Miedl. (Photo: VNA) 
