Vietnam and Austria will work closely together to implement concrete and effective measures to promote bilateral investment cooperation, presidents of the Chamber of Commerce and Industry of the two countries committed at the Vietnam - Austria Business Forum on the occasion of Prime Minister Nguyen Xuan Phuc’s visit to Austria on October 15.
Prime Minister Nguyen Xuan Phuc and Austrian businesses at the Vietnam-Austria Economic Forum. Photo: Quang Hieu
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At the event, Vietnamese enterprises shared experience to successfully do business with foreign partners, including Austrian enterprises who have been doing business in Vietnam for many years. Meanwhile, Austrian enterprises shared their concern about the fields in which they are looking for opportunities.
A successful Austrian business in Vietnam refers to the similarities between the Vietnamese and Austrian economies. They are neighbors of the two economic giants China and Germany, respectively. To survive and develop, there is no way to find its own solution cooperation opportunities with each other.
President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc referred to Vietnam's first home-made automobile brand, Vinfast. Vinfast has cooperated with Austria’s two technology giants in gearboxes and machine system. This is the successful cooperation of Vietnamese enterprises with Austrian partners, Loc said.
President of the Austrian Federal Economic Chamber Harald Mahrer said that he is arranging a large delegation of enterprises to visit Vietnam in 2019 and has decided to set up a representative office for Southeast Asia in Ho Chi Minh City.
Speaking at the forum, Prime Minister Nguyen Xuan Phuc said both Austria's President and Prime Minister support the early signing of Vietnam-EU Free Trade Agreement.
The PM emphasized the opportunities that are being opened up in Vietnam for foreign investors and businesses, including those from Austria. Both countries’ enterprises need to take advantage of the opportunities to push forward.
PM Phuc expressed his hope that Austrian enterprises would be interested in hi-tech agriculture, processing and manufacturing, especially agricultural products with high potential for export, investing in hi-tech parks with Austria’s advanced technology, investing in infrastructure and tourism.
The PM added that Vietnam's state-owned enterprises are willing to sell shares to potential Austrian investors, even in conditional fields such as banking, insurance and telecommunications, etc.
