PM Nguyen Xuan Phuc speaks at the forum. (Photo: VNA)Vienna (VNA) - Prime Minister Nguyen Xuan Phuc called on Austrian businesses to investin a wide range of areas in Vietnam while addressing the Vietnam-AustriaBusiness Forum in Vienna on October 15.
PM Phuc, who is payingan official visit to Austria, suggested Austrian enterprises invest inhigh-tech agriculture, processing and manufacturing industry, especiallyagricultural product processing, high-tech zones, infrastructure development andtourism.
Vietnam will alsocreate optimal conditions for Austrian investors to buy stakes of State-ownedenterprises, he promised.
PM Phuc briefedparticipants, including representatives from 60 Vietnamese businesses and over100 Austrian companies, on Vietnam’s economy which has grown continuously andis expected to expand by about 7 percent this year.
“Vietnam will strive tomaintain the growth pace to create favourable conditions for investors in thecountry,” he said.
Vietnam is a largemarket with a population of almost 100 million, and 65 percent of the country’sworkforce is young and the middle class is on the rise, the leader said, addingthat the increasing number of internet and smart phone users in Vietnam hasalso opened up great opportunities for e-commerce development.
The PM stressed thatVietnam has signed and planned to ink 16 new-generation free trade agreements(FTAs), including the future FTA with the EU in the time ahead.
“Vietnam is committedto making continuous reforms and facilitating foreign investment in the country,”he pledged.
He pointed out thatalthough trade turnover between Vietnam and Austria is projected to hit about4.5 billion USD this year, the flows of investment capital in each other’s marketremained modest, standing at only around 200 million USD.
Given this, PM Phucurged Vietnamese and Austrian enterprises to step up investment and cooperation,for mutual benefits, economic development in each country and strongerbilateral relationship.
Addressing the forum,Harald Mahrer, President of the Austrian Federal Economic Chamber, saidAustrian firms have clearly recognised Vietnam’s development over the pastyears, which, he said, would open up great opportunities for investors.
Vietnam is one of thecountries enjoying the fastest development in Asia and the world with a trainedyoung workforce and an increasing number of newly-established enterprises andstartups, especially in IT and digital technology, he said.
Mahrer affirmed thatAustrian businesses are interested in the Vietnamese market which will have apopulation of nearly 100 million and its gross domestic product (GDP) growth isforecast to double in the years to come.
Highlighting Vietnam asa big market for Austrian exports, the official said that the Austrian FederalEconomic Chamber has decided to open its representative office in the country.
At the forum, PM Phucand representatives of agencies and businesses of the two countries witnessedthe signing of cooperation agreements in such areas as energy, credit,manufacturing industry and health equipment.
A cooperation agreementbetween the Vietnam Chamber of Commerce and Industry and the Austrian FederalEconomic Chamber will also be signed on this occasion, under which the two sideswill cooperate in supporting businesses of Vietnam and Austria as well as theimplementation of the EU-Vietnam FTA.
Also on October 15, PMPhuc met with Ernst Wastler, Chairman of the Board of Vamed Group and Tao Ngoc Tu,Chairman of Tan Viet Group, and held a talk with representatives of leadingAustrian businesses.
Austria is thefirst stop of the PM’s trip to Europe, during which he will also pay officialvisits to Belgium and Denmark, make a working visit to the European Union andattend the 12th ASEM Summit (ASEM 12) and the Partnering for Green Growth andthe Global Goals 2030 Summit (P4G).-VNA
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