Prime Minister urges Austrian firms to invest in Vietnam
Prime Minister Nguyen Xuan Phuc welcomed the opening of an office of the Austrian Federal Economic Chamber (WKO) in Vietnam and urged Austrian firms to invest in the country.
Prime Minister Nguyen Xuan Phuc (R) receives President of the Austrian Federal Economic Chamber Harald Mahrer in Hanoi on May 14 (Photo: VNA)
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc welcomedthe opening of an office of the Austrian F🎃ederal Economic Ch🥂amber (WKO) inVietnam and urged Austrian firms to invest in the country.
Receiving WKO President Harald Mahrer in Hanoi on May 14,the PM affirmed that Austria is an important and trustful partner of Vietnamand calling on the two countries to bolster bilateral trade, economic andinvestment ties. He remarked that Austrian investment in Vietnam is stillmodest, expressing the wish that the WKO office in Vietnam will help promotethe investment flow between the two countries. PM Phuc said Austrian firms should act quickly to seize theopportunities that the EU-Vietnam free trade agreement will bring about. Hesuggested that they can invest in Vietnam in the fields of processing,metallurgy, manufacturing, e-commerce, textile, glass, banking and insurance. Harald Mahrer appreciated the support of the Vietnam Chamberof Industry and Commerce and Vietnamese agencies for the opening of the WKOoffice in the country. The office will provide an important foundation for enhancingties between the business communities of the two countries, he said. According to the WKO President, representatives of about 50Austrian firms are accompanying him in this trip to Vietnam with the purpose ofstudying business and investment opportunities in the country.-VNA
Austria was among the first Western nations to establish diplomatic ties with Vietnam when the war in Vietnam was still going on. Cooperation between the two countries records strong development.
A solemn welcome ceremony for Vietnamese Prime Minister Nguyen Xuan Phuc took place on October 15 at the Hofburg Palace in the Austrian capital city of Vienna, hosted by Chancellor Sebastian Kurz.
Austria attaches importance to its friendship and cooperation with Vietnam and is willing to collaborate with the Southeast Asian nation in the fields both sides can complement each other, Austrian President Alexander Van der Bellen has affirmed.
Vietnam always considers Austria an important and reliable partner in Europe, Prime Minister Nguyen Xuan Phuc told President of the Austrian National Council Wolfgang Sobotka.
Prime Minister Nguyen Xuan Phuc spoke highly of Lower Austria’s role in Vietnam-Austria relations during a meeting with the state’s Governor Johanna Mikl-Leitner on October 16.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Prime Minister Nguyen Xuan Phuc (R) receives President of the Austrian Federal Economic Chamber Harald Mahrer in Hanoi on May 14 (Photo: VNA) 
