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VietNamNews

Austrian investors retain high hopes for VN market

Update: March, 16/2013 - 10:12

HA NOI (VNS)— Viet Nam continued to be an attractive destination for foreign investors, including those from Austria, said Viet Nam Chamber of Commerce and Industry (VCCI) Vice Chairman Doan Duy Khuong during a business conference in Ha Noi on Wednesday.

During the conference, Khuong vowed to create favourable conditions for Austrian businesses to expand operations in Viet Nam. With more than 80 million people, the country is also close to other large markets operating in the ASEAN-China, ASEAN-Japan and ASEAN-Korea Free Trade Areas. Khuong said the Government was making great efforts to complete the legal framework for a market economy and improve infrastructure while encouraging the development of the private economic sector.

For his part, Austrian Ambassador in Viet Nam Georg Heindl said Austria saw strong growth in many sectors in Viet Nam and planned to increase investment and trade co-operation with the country.

Encouragingly, bilateral trade between the two nations has increased from US$175 million in 2007 to $1.3 billion in 2012, said deputy head of the Ministry of Industry and Trade's European Market Department Tran Ngoc Quan.

In term of investment, Austrian businesses invested $9.4 million in two projects in Viet Nam in 2012, according to the Foreign Investment Agency.

The latest addition brought Austrian investment registered in Viet Nam to over $60.16 million, it noted. — VNS



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