Austria Praises Vietnam's Role in Promoting Ties with ASEAN

An Austrian official has praised Vietnam's role in promoting its ties with the Association of Southeast Asian Nations (ASEAN). The Austrian official proposed stepping up exchanges through the International Organisation of Securities Commissions (IOSCO) and holding online technical meetings for experts to share information and discuss issues of common interest. Vietnamese Deputy Minister of Finance Nguyen Duc Chi said the participation of regulators, investment funds, financial institutions, and businesses reflects growing interest among Austrian and European investors in the Vietnamese market and prospects for expanded bilateral collaboration. Highlighting the strengths of Linz city and Upper Austria in advanced technology, innovation, and high-quality human resource training, Vietnamese Ambassador to Austria Vu Le Thai Hoang proposed stronger links among businesses, research institutes, and universities. He identified artificial intelligence (AI), semiconductors, robotics, automation, quantum computing, and biotechnology as promising areas for cooperation. Vietnam, a socialist republic led by the Communist Party, has experienced rapid economic growth, driven by manufacturing and exports. However, this growth has also brought challenges, including corruption. Recently, the Communist Party of Vietnam Central Committee's Secretariat decided to expel the Deputy Minister of Health and the Vice Chairman of the People’s Committee of Phu Tho province from the Party, signaling efforts to maintain discipline and combat corruption. Vietnam maintains complex relations with China while deepening economic ties. Simultaneously, it is strengthening relationships with the United States and European nations, pursuing a balanced diplomatic strategy. The recent move to enhance ties with Austria can be seen as part of Vietnam's strategy to expand its access to European markets and deepen cooperation in technological innovation. Information Source: VietnamPlus English