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 Zei🎃tungnewspaper 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 n⛎otwant 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 th♏ird 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).
Several cultural exchange events have taken place in Vietnam and Austria recently as part of activities celebrating the 50th founding anniversary of diplomatic ties between the two countries.
Given their large populations and rising incomes, South Asian countries are importing a diverse range of goods including consumer products, processed food, healthcare and beauty items, electronic components, and construction materials. Notably, there is a growing trend among them to diversify sourcing away from China, making Southeast Asia, and Vietnam in particular, a more attractive partner.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,300 VND/USD and the floor rate 23,796 VND/USD.
An online seminar on strengthening trade relations through international trade fairs, held by the Vietnam Trade Office in India on June 25, saw the participation of nearly 50 Vietnamese seafood companies and 50 Indian enterprises in sectors of processed food, agricultural products, fruits, and spices.
The vehicles will be deployed for mail and parcel delivery by Hanoi Post, marking another step in the strategic partnership between the two firms since 2021. With this batch, the total number of electric motorbikes Honda has supplied to Vietnam Post has reached 405, operating primarily in key cities such as Hanoi and Ho Chi Minh City.
With participation from major players representing countries such as Russia, China, Japan, India, Thailand, and Indonesia, Vietbuild 2025 is expected to present a wide range of environmentally friendly and innovative products and services, especially building materials, machinery, and interior and exterior decoration.
Bulgaria holds strengths in sectors that align well with Vietnam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
Kronen Zeitung newspaper covers the Vietnam visit by Regional Minister for Foreign Affairs Barbara Eibinger-Miedl. (Photo: VNA) 
