Deputy Minister of Finance Nguyen Duc Chi and State Secretary in the Federal Ministry of Finance Barbara Eibinger-Miedl sign an agreement on financial cooperation, Ha Noi, June 23, 2025 - Photo: VNA

The agreement was inked on June 23 by Deputy Minister of Finance Nguyen Duc Chi and State Secretary in the Federal Ministry of Finance Barbara Eibinger-Miedl.

This agreement marks an important step forward in the bilateral cooperation, particularly in the field of finance.

The newly signed agreement, including €100 million tied to specific conditions and €50 million in untied funding, will serve as the legal basis for both sides to continue discussions and reach consensus on general principles for loan arrangements and the implementation of related procedures for specific loan agreements for projects during the next five-year period (2025–2030).

This loan demonstrates the Austrian Government's strong commitment to continuing its support and partnership with Viet Nam on its path of socio-economic development.

Following the signing ceremony, both sides pledged to closely work at the technical level to develop and implement specific projects funded by this agreement in the most effective manner.

Nguyen expressed his appreciation for the invaluable support provided by the Austrian Government to Viet Nam via concessional loans over the years. To date, Viet Nam has carried out 32 projects funded by the Austrian government, with a total value of approximately €370 million.

Regarding investment cooperation, Austrian companies have poured US$150 million in 49 active investment projects in Viet Nam.

Eibinger-Miedl, for per part, reiterated that Viet Nam is an important trading partner of Austria in Southeast Asia, with around 60 Austrian companies currently operating in the country.

She noted that in 2024, Austria's exports to Viet Nam increased by 25 percent, while imports from Viet Nam to Austria rose by 9 percent, demonstrating the positive impact and effectiveness of the EU-Viet Nam Free Trade Agreement (EVFTA)./.