Photo: VIR

Welcoming the Vietnamese Ministry of Finance (MoF) delegation, State Secretary Barbara Eibinger-Miedl noted the importance of economic and financial cooperation between Vietnam and Austria and stated her wish to strengthen close coordination between the two finance ministries.

Deputy Minister Chi spoke highly of the results of Vietnam-Austria financial cooperation over the past two decades. He noted that projects in Vietnam financed by Austrian government loans in healthcare, vocational training, fire prevention and firefighting, and railway transport had delivered practical results.

To bring bilateral financial relations into a new phase of deeper and broader cooperation, the two sides agreed on the need to continue close coordination to effectively implement the new Framework Agreement on Financial Cooperation, signed on June 23, 2025 and effective from August 1, 2025.

Deputy Minister Chi said Vietnam would continue to pursue a flexible fiscal policy to support growth while keeping inflation under control. Vietnam is targeting average annual GDP growth of at least 10 per cent during 2026-2030, with a focus on socioeconomic infrastructure, digital transformation, green development, innovation and high technology.

In particular, a comprehensive financial market reform scheme linked to the goal of achieving high growth through 2045, together with a simplified legal framework for accessing official development assistance loans under the new laws on the state budget, public investment and public debt management, will create better conditions for the disbursement of foreign financing.

Against this backdrop, the MoF deputy minister expressed his hope that Austria would continue supporting and boosting concessional credit packages of appropriate scale, focusing on smart infrastructure, sustainable development management, renewable energy and high-quality healthcare projects.

Vietnam’s MoF also called for closer coordination to quickly translate financing commitments under the new Framework Agreement on Financial Cooperation into specific projects.

Austria was also encouraged to continue sharing guidance on financing procedures and conditions and to provide the necessary flexibility during implementation, while shortening and simplifying the approval process for projects financed by Austrian loans, particularly requirements relating to supplier selection, commercial contracts and procedures for finalising loan arrangements.

Vietnam also attaches particular importance to strengthening cooperation in green finance and the green bond market. As the country works to complete its legal framework for the carbon market and green finance, it hopes to receive technical assistance and practical experience from Austria in developing standards and pricing methodologies, as well as attracting major European institutional investment funds to Vietnam’s green capital market.

Deputy Minister Chi further proposed stronger professional exchanges on public debt management, the use of digital technologies for cash-flow forecasting, and public-private partnership models. He also called for support in connecting Austrian financial institutions and businesses with investment opportunities in Vietnam and encouraging financial technology transfer.

Photo: VIR

State Secretary Barbara Eibinger-Miedl stated that Austria was ready to accompany Vietnam through concessional credit instruments, financial guarantees and development support programmes.

She said Austria was an important economic centre in Europe and that Austrian businesses had shown strong interest in the Vietnamese market, particularly in transport infrastructure, railways, fintech, pharmaceuticals, biomedicine and green finance.

Barbara Eibinger-Miedl also shared Austria’s experience in managing emerging areas such as crypto-assets and blockchain. Austria is ready to share its experience in developing a regulatory framework that strikes a balance between risk management and the promotion of innovation, she said.

The Austrian side expressed its wish for Vietnam’s MoF to serve as a focal point for connecting relevant ministries and agencies and supporting cooperation between businesses from the two countries in the mining sector. The two sides agreed to translate their commitments into specific programmes and projects with clear implementation roadmaps.

Vietnam’s MoF stated its readiness to work with Austria to review potential projects and promptly address obstacles to facilitate signing and disbursement, contributing to more substantive and effective economic, financial and investment cooperation between Vietnam and Austria.