PM hails cooperation as key to prosperous development
VGP – Prime Minister Nguyen Xuan Phuc hailed mutual cooperation as the key to overcome obstacles and advance farther on the path of prosperous development at the Viet Nam-Austria Business Forum in Vienna on October 15.
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The PM informed Austrian investors of the investment potential and opportunities in Viet Nam. Specifically, Viet Nam jumped from 77th position in the 2006 Global Competitiveness Index (GCI) released by the World Economic Forum to 55th in 2017. Concerning the World Bank’s Doing Business (DB) index, Viet Nam stood at 68thplace in 2017, 36 places higher than in the previous decade.
Touching on the modest investment capital of just US$200 million between the two countries, he urged the two sides’ companies to take advantage of the forum to boost investment promotion in each other’s market.
PM Phuc stated that the Austrian Federal Economic Chamber (WKO) has decided to open a Viet Nam-based representative office for Asia, while a number of Austrian investors have also planned to open their offices in Viet Nam. This is a good opportunity for Austrian firms to cooperate with Vietnamese partners for successful business in the country, he affirmed.
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The Viet Nam-Austria Business Forum gathered the attendance of nearly 200 businesses from the two countries, including around 60 Vietnamese firms operating in the fields of agriculture, finance, renewable energy, technology, infrastructure development, and health.
Addressing the event, VKO President Herald Mahrervoiced the chamber’s huge interest in the assessments about Viet Nam’s development outlook, noting that the VKO has decided to open a regional representative office in Viet Nam, and will invite a delegation of Austrian companies to visit and explore business opportunities in the country.
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President of the Viet Nam Chamber of Commerce and Industry (VCCI), Vu Tien Loc, said that the VCCI has been working closely with the VKO to build cooperation plans to leapfrog the Viet Nam-European Union Free Trade Agreement (EVFTA), including the establishment of the Viet Nam-Austria Joint Business Council.
He expressed his hopes that more Austrian firms will invest in Viet Nam following the VKO’s launch of its representative office in the country.
At the forum, the two countries’ businesses signed many cooperation deals in the presence of PM Nguyen XuanPhuc.
By Vien Nhu
