Prague (VNA) – Vietnam and Austria discussed measures to promoteeconomic-trade collaboration during a recent working session between VietnameseAmbassador to Austria Le Dung and Austrian Deputy Minister for Digital andEconomic Affairs Michael Esterl.

The Vietnamese diplomat thanked Michael Esterl and his ministry for boostingcooperation between the two sides, affirming the Memorandum of Understanding onIndustry 4.0 cooperation clinched between the Vietnamese Ministry of Industryand Trade and the Austrian ministry provides a sound basis for both sides tocarry out collaboration activities in the coming time.

Michael Esterl, for his part, laid stress on the significance of the regular policyand legal consultation between the Vietnamese Embassy and the Austrian ministryas it creates opportunities for both sides to exchange trade and investmentpolicies and regulations as well as market information in each nation.

He suggested both sides maintain this mechanism in theforms that suit COVID-19 situation such as holding virtual conference.

The Vietnam-Austria business conference could be organisedto update information and pen measures to support enterprises of both sides sothat they can seek cooperation opportunities and expand investment in eachcountry, he added."


Touching on cooperation in the time to come, he said Austria is pushingprocedures to ratify the EU-Vietnam Investment Protection Agreement (EVIPA).

Dung thanked Austria’s support, stressing Austrian businesses have manyopportunities to land investment in Vietnam.

With a population of 97 million, Vietnam is a potential market for Austrianfirms to expand their business operation, while it serves as a gateway forAustrian products and services to get access to the 670 million-strong ASEANmarket.

Additionally, being a favourite destination for foreign investors in the“China, Plus One” strategy, Vietnam will have preferential policies to attractforeign investment, he said, holding when the EVIPA takes effect, Austriancompanies will gain great competitive edges if they invest in Vietnam.

At the event, both sides reaffirmed they want to cooperate with each other inthe fields of vocational training and labour. Austria said the country has hugedemand for skilled workers in information technology (IT) and nursing in thefuture.

They also reached consensus on urging competent authorities to kick off a pilotproject to carry out Austria’s vocational training model in Vietnam.

Dung took the occasion to invite Michael Esterl to visit Vietnam in a suitabletime when the COVID-19 pandemic is put under control./.