European officials seek to expand economic ties with Vietnam

European officials are seeking to strengthen economic and political ties with Vietnam through targeted diplomatic and financial initiatives.

In Germany, Saxony's Economic Minister Dirk Panter led a delegation to Vietnam to explore cooperation in sectors including environmental and energy technology, water treatment, and plastic processing. Panter emphasized the country's rapid growth and potential for collaboration in infrastructure, mechanical engineering, and addressing skilled labor shortages through international educational partnerships.

In Austria, State Secretary Barbara Eibinger-Miedl met with Vietnamese Vice Finance Minister Nguyen Duc Chi to discuss financial cooperation, capital market development, and export promotion. The discussions included the use of soft loan agreements, which provide subsidized financing to support Austrian companies participating in Vietnamese projects. The engagement was further supported by the ‘Vietnam Austria Investment Connect Forum’ in Vienna, aimed at connecting political and financial representatives from both nations.