HCM City (VNA) – Vice Chairman of the Ho Chi Minh City People’sCommittee Tran Vinh Tuyen said cooperation between Austria and HCM City has yettapped their potential while receiving a delegation of Austrian businesses on May15.

The delegation, ledby Harald Mahrer, President of the Austrian Federal Economic Chamber, is on aworking visit to the city.

Tuyen expressed hishope that the visit and the opening of a representative office of the Austrian FederalEconomic Chamber in the city will help step up cooperation between Austrian andcity businesspeople.

HCM City highly values the capacity of Austrian businesses operating inindustry, science, and technology, as they are gaining its interest, he said,referring to the development of the support industry and the application ofscience and technology in life.

Tuyen noted that the city is willing to invite Austrian businesses to take partin components of its projects to build smart urban areas, treat medical waste,and deal with flooding and traffic congestion.

Harald Mahrer said his delegation will attend the opening of the representativeoffice of the Austrian Federal Economic Chamber in the city on May 16.

He said the move realizes agreements between the two countries’ leaders onenhancing the bilateral ties to the next level.

The rep. office is tasked to assist Austrian businesses in looking for tradeand partnership opportunities in Vietnam and help Vietnamese businesses to setfoothold in Austria and Europe, he said.

It will help improvethe transfer of technology and science between Austrian and HCM City businessesand realize cooperation potential between Austria and the city, he said.

Austria is ranked 30th among foreign investors in HCM City as it hashad 13 projects with total registered capital of over 40 million USD.

In 2018, tradebetween Austria and HCM City reached 110 million USD.

An Austria-HCM City business forum will take place on May 16 following theopening of the representative office of the Austrian Federal EconomicChamber.-VNA