On September 29, an economic forum was held in Vienna on the occasion of the visit of the Vietnamese foreign minister. Because Vietnam is one of the most relevant trading partners in Southeast Asia.
VIENNA. It was an important visit announced on Thursday, September 29, in Vienna. Because the Vietnamese Foreign Minister Bui Thanh Son was staying in this country, which is why the Austrian Chamber of Commerce held an economic forum with entrepreneurs from Austria and Vietnam.
“Austria’s trade with the future market of Vietnam is booming. Technology ‘made in Austria’ is particularly in demand in mechanical engineering or engineering services,” explains Amelie Groß, Vice President of the Austrian Chamber of Commerce.
A future market in the Far East
The Corona crisis has recently caused Austrian-Vietnamese economic relations to suffer somewhat. But now trade is on the up once more: the trading volume rose by 17.8 percent to 775 million euros in the first half of 2022.
Vietnam is already quite relevant economically – it is the largest trading partner in Southeast Asia. Since, for example, the local industry is developing well and the household incomes of the Vietnamese are also increasing, this is driving trade. An agreement between the EU and Vietnam is also having a positive effect.
Many investments in Vietnam
WKÖ business delegate in Ho Chi Minh City Dietmar Schwank explains: “While the growth prospects for other Southeast Asian countries had to be revised downwards in recent months, it is exactly the opposite for Vietnam.”
To date, around 50 Austrian companies have set up more than 60 branches in Vietnam, with most of the investments going to Ho Chi Minh City in the south of the country.
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