During a meeting with the Federal Minister of Economy, Family and Youth, Reinhold Mitterlehner, the Deputy PM said that he was satisfied with the positive development of the two countries’ multi-dimensional cooperation, although bilateral economic ties remain modest when compared with the two countries’ trade potential.

He assured the Austrian minister that the Vietnamese government has strived to create a positive environment for Austrian businesspeople  to make long-term investments in Vietnam, particularly in transport infrastructure and railway projects.

The Deputy PM asked the Austrian government to lobby the EC to recognise Vietnam’s market economy as well as supporting Vietnam in its negotiations over establishing a Partnership and Cooperation Agreement with the EU.

If successful, this would pave the way for Vietnam to effectively participate in a multilateral trade system and expand its economic ties with Austria in particular and the EU in general, Deputy PM Hai added.

The Austrian Minister said that he was impressed with Vietnam’s socio-economic development during 2008 in the wake of the spreading global economic crisis and pledged to continue to provide ODA funding for projects to promote healthcare services and railway development in the south-east Asian country.

The minister also confirmed that favourable policies would be extended to strengthen the links between the two countries’ small and medium-sized enterprises.

The Austrian official agreed to Vietnam’s proposal to promote the two countries’ joint working group to the Inter-governmental Committee for Economy, Trade and Investment to promote greater efficiency of coordination and information.

Meeting with the State Secretary of the Federal Finance Ministry, Andreas Schieder, Deputy PM Hai raised the fact that both countries should capitalise on their strengths to increase cross-investment as well as trade value for the sake of both their interests.

He spoke of Austria’s developed economy, advanced science- technology foundation, and the two countries’ signing of a double taxation avoidance agreement as advantages supporting the realisation of the afore-mentioned tasks.

State Secretary Adreas Schieder, speaking of his impressions of Vietnam’s steadfast and sustainable growth in the past, affirmed that the Austrian Government would continue to give priority to its cooperation with Vietnam in areas such as health, transport infrastructure, railway and environmental protection.

On the same day, Deputy PM Hai also met with Christoph Leitl, Chairman of the Austrian Economic Chamber (WKO), and representatives of several Austrian corporate giants that have already invested or expressed interest in seeking investment opportunities in Vietnam.

He briefed the eager Austrian businesspeople on the country’s socio-economic achievements during 2008 and its prospects for 2009, and reiterated the government’s aim of creating a complete business environment for foreign investors.

The Austrian businesspeople said that many of their investment projects in Vietnam proved effective and they plan to launch new projects in the future, particularly in the medical equipment and hydro-electric generation sectors.

The WKO Chairman pledged to assist Vietnam in organising a conference in Austria to promote the Vietnamese market and call for Austrian investment in Vietnam sometime in 2010.
The WKO official voiced support for boosting bilateral cooperation in education, training, joint scientific research in the fields of health, shipping industry, and tourism, and the construction of laboratories in several universities across Vietnam.

Earlier, Deputy PM Hai visited the Vietnamese Embassy in Austria, which forms part of his Central European tour./.

(VNA)