After 34 years of establishing diplomatic relations with Viet Nam in 1972, the two sides have continuously enhanced relations in many aspects. According to Viet Nam’s Foreign Affairs Ministry, Austria now ranks 42nd among countries and territories investing in Viet Nam.
At present, Austria has seven ongoing projects in Viet Nam with a total capital of more than US$20 million, including oil and gas, hotel and tourism, heavy industry and agro-forestry projects.
In terms of co-operation, Austria has pledged to support Viet Nam in railways, healthcare and education.
Under the agreement, Austria would increase the capacity of the railway system and modernise the railway information system, the healthcare sector and provide medical and educational equipment to hospitals and universities.
So far, the two countries have signed agreements on aviation, railways, and established a join group for economic-trade promotion and encouraging investments.