HCM City pledges favourable conditions for Austrian investors

Ho Chi Minh City commits to creating optimal conditions for foreign businesses, including those from Austria, to operate in the southern economic hub, the city's mayor has said.

At a reception for Austrian Ambassador to Vietnam Hans-Peter Glanze on November 30, Chairman of the municipal People’s Committee Phan Van Mai named the city’s priority investment areas like clean energy, telecom infrastructure, digital economy and high-tech.

Austria ranks 31st among investors in HCM City with 16 projects worth over US$41 million, according to the official.

Mai thanked international friends, including Austria, for their support during the COVID-19 resurgence over the past months, and spoke highly of economic cooperation between HCM City and Austria with two-way trade reaching US$159.4 million in the first 10 months of this year, up 164% year-on-year.

For his part, Glanze said following the establishment of Austria’s industry and commerce office in HCM City in 2019, the city has been known as an important destination for Austrian investors.

Austria would increase the export of technology-intensive products to Vietnam, he said, adding that Austria will also continue with cooperation projects in HCM City, focusing on such spheres as smart cities, transport, environmental protection and pharmacy.