Austria commits to supporting businesses in expanding ties, investment, and cooperation with Da Nang
WVR - On November 17, in Vienna, Austria, Da Nang City, in collaboration with the Vietnamese Embassy in Austria, organized the business seminar “Da Nang: Emerging Financial and Technological Hub in Vietnam”.
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| The business seminar “Da Nang: Emerging Financial and Technological Hub in Vietnam” took place in Vienna, Austria. |
The seminar was co-chaired by Mr. Ngo Xuan Thang, Deputy Secretary of the Da Nang Party Committee; Mr. Ho Ky Minh, Permanent Vice Chairman of the Da Nang People's Committee; and Mr. Vu Le Thai Hoang, Vietnamese Ambassador to Austria.
Representatives from Austria included officials from the Ministry of Economy, Energy and Tourism, the Austrian Federal Economic Development Agency, the Austrian Federal Business and Labour Promotion Agency, the Austrian Federal Economic Chamber, the OPEC Fund, and nearly 30 representatives from major Austrian high-tech, financial, and banking enterprises.
Opening the seminar, Ambassador Vu Le Thai Hoang emphasized Austria's model of self-reliant core technology, innovation, and its leading banking and financial centers in Central and Eastern Europe, which align well with Da Nang's priorities in building an international financial center and high-tech hub.
The Austrian Government increasingly values the Asian market, viewing Vietnam as a gateway to Southeast Asia. With a foundation in advanced manufacturing, Austria is investing in and promoting cooperation in sectors such as semiconductors, AI, information technology, quantum technology, life sciences, and neuroscience.
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| Finance and technology are two strategic pillars for Da Nang to drive sustainable growth. |
Austria is a key technological link in the German-speaking technology ecosystem (including Germany, Austria, Switzerland) and Europe, serving as an effective model of collaboration between the government, research institutes, universities, enterprises, and start-ups (mostly SMEs and family businesses).
The Austrian financial and banking sector is large relative to GDP, with an extensive international partner network and strengths in insurance, asset management, innovative finance, fintech, digital assets, and high market oversight standards.
Mr. Ngo Xuan Thang and Mr. Ho Ky Minh affirmed that finance and technology are two strategic pillars for the city to drive sustainable growth.
Resolution No. 222/2025 of the Vietnamese National Assembly provides a special institutional framework, creating new momentum for Da Nang to build an International Financial Center focusing on green finance, fintech, digital assets, trade finance, and cross-border financial services linked with seaports, logistics, and international tourism.
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| The Vietnamese Embassy in Austria and Da Nang City co-organized the business seminar. |
Regarding the development of the high-tech center, the city focuses on upgrading infrastructure, expanding innovation spaces, and developing an internationally-standardized workforce, prioritizing the attraction of investment projects in chip production, robotics, electronic components, AI equipment, and developing a tech start-up ecosystem.
City leaders emphasized that Austrian businesses and investors, with their strong financial systems and advanced technology, could be suitable partners to collaborate with Da Nang in building an effective, mutually beneficial cooperation model, realizing the goal of establishing an international financial and high-tech center in the near future.
Austrian guests were impressed with Da Nang's potential and aspirations, raising many questions, engaging in lively discussions, and offering numerous proposals regarding the city's investment attraction policies, energy supply, infrastructure and transportation connectivity, waste management, environmental protection, and high-quality human resource training cooperation.
The Austrian government and trade and investment promotion organizations also committed to supporting businesses in exploring the market, expanding connections, and seeking investment and cooperation opportunities with Da Nang.
(Source: Embassy of Vietnam in Austria)
