The portal of the Austrian Federal Economic Chamber has run an article hailing Vietnam’s consistent, drastic and effective measures against the COVID-19 pandemic, adding that the Vietnamese market remains attractive to Austrian firms.
Brussels (VNA) – The portal ofthe Austrian Federal Economic Chamber has run an article hailing Vietnam’sconsistent, drastic and effective measures against the COVID-19 pandemic, addingthat the Vietnamese market remains attractive to Austrian firms.
The article said it is not without reason that the Austria’s IC- Steiermark Centre (ICS) has brought Vietnam into afocus programme this year, on the back of its 2.9 percent economic growth,which could reach 5-7 percent this year.
It quoted Austrian Commercial Counsellor in HoChi Minh City Dietmar Schwank as saying that Vietnam has insisted on viruscontainment and wide quarantine for immigrants. Such policy has proven successful in both health and economic terms. Border closure, a 14-day quarantine withoutexceptions and a consistent anti-pandemic plan have helped Vietnam curb the virusspread.
Meanwhile, failures in tourism sector which experienced a boomwith 18 million visitors in 2019 could be offset by public investment, manufacturingand domestic consumption.
Additionally, the Vietnamese Government also offered aidpackages to enterprises and the unemployed.
In political and macro-economic terms, the author hailed Vietnamas stable country with its key policies of economic liberalisation, investmentin infrastructure and foreign investment attraction. All such factors have madeVietnam attractive to Austrian companies.
According to the article, the European Union – Vietnam FreeTrade Agreement, which took effect in August 2020, has also brought advantages tobilateral cooperation. Vietnam is now the largest trade partner of Austria inSoutheast Asia, with imports from the latter amounting to nearly 1 billion EUR. Newbusiness opportunities could be identified in infrastructure, health care,energy, urban technology, environment, security, disaster management, hi-techproducts and production machinery.
The ICS’s adding Vietnam into its 2021 focus programme couldopen up a series of events such as seminars and trips to the country thisautumn.
The centre said exporters and Austrian firms operating in mechanicalengineering, food and pharmaceuticals will enjoy many chances when navꦺigating theVietnamese market./.
The Trade Office of the Austrian Embassy made its debut in Ho Chi Minh on May 16, expected to help connect business communities of Vietnam and Austria in the future.
Vietnam and Austria discussed measures to promote economic-trade collaboration during a recent working session between Vietnamese Ambassador to Austria Le Dung and Austrian Deputy Minister for Digital and Economic Affairs Michael Esterl.
Prime Minister Nguyen Xuan Phuc hosted a reception for Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg and AT&S Chief Operations Officer (COO) Ingolf Schroeder on March 23.
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.
Illustrative image (Photo: VNA) 
