PM hopes Austrian AT&S decide to invest to Vietnam soon

Prime Minister Nguyen Xuan Phuc hoped that AT&S will soon finalise its investment decision during a reception hosted for Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg and AT&S Chief Operations Officer (COO) Ingolf Schroeder on March 23, reported VNA.
March 24, 2021 | 07:25
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PM hopes Austrian AT&S decide to invest to Vietnam soon
Prime Minister Nguyen Xuan Phuc hosts a reception for Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg. Photo: VGP

Speaking highly of the Vietnam visit by Schroeder and AT&S staff to study investment possibility in the country, PM Phuc informed his guests that despite COVID-19, Vietnam recorded a GDP growth of 2.91 percent last year, which is a major success of the country.

Vietnam continues to attract foreign direct investment projects, Phuc said, noting his welcome of the Austrian manufacturer’s intention to invest in the country.

Ambassador Schuller-Gotzburg congratulated Vietnam on the successful organisation of the 13th National Party Congress, adding that as the two nations will celebrate the 50th founding anniversary of diplomatic ties next year, he hoped that COVID-19 will be brought under control so that the sides can resume exchanges across multiple spheres.

He also expressed his belief that AT&S’ planned project in Vietnam, which is a major one with investment of about EUR 1.5 billion (USD 1.78 billion) and expected to employ 6,000 workers, will be in line with Vietnam’s policy of drawing high tech investment.

Austria is paying heed to the project as Vietnam is among the world's leading destinations for FDI, the diplomat said.

For his part, Schroeder thanked the Vietnamese government and localities for facilitating the visit, which he said is important for the company to make decision on investment. He said the company is confident that it will be able to build a manufacturing plant in Vietnam in a short time, meeting an increasing demand in the sector. Therefore, it is planning to build two plants in the first phase, he said.

The Austrian firm hopes to receive support from the Vietnamese Government for the fruitful implementation of the project, especially the recruitment of at least 1,500 engineers, according to the AT&S executive.

PM hopes Austrian AT&S decide to invest to Vietnam soon
At the meeting. Photo: VGP

In reply, PM Phuc said that many FDI projects in Vietnam have reaped success, citing as example Intel and Samsung. He affirmed that the Vietnamese Government has always offered the best conditions for foreign investors through investment incentives, especially for hi-tech projects.

The PM said both the northern province of Thai Nguyen and the southern economic hub of HCM City have good infrastructure, from transport to electricity, water and gas supply, which can meet the needs of investors.

He voiced his belief that Vietnam is the best choice for foreign investors, and hoped that AT&S will soon finalise its investment decision.

The Vietnamese Government leader also stressed that the Vietnam-Austria relations have been flourishing, and the two nations have optimal conditions for successful cooperation.

AT & S Austria Technologie & Systemtechnik AG (AT&S) is an Austria-based company engaged in the production of semiconductors, according to Reuters.

The Company specializes in manufacturing and distributing printed circuit boards (PCBs). Its activities are divided into three business units: Mobile Devices & Substrates, which produces PBCs for mobile devices, such as smart phones, tablets, digital cameras and portable media players; Industrial & Automotive, supplying PBCs to automotive, aviation, and medical sectors, among others; and Advanced Packaging, which is responsible for components integration in the product. AT&S operates production plants in Austria, India, China and Korea. Furthermore, the Company controls a number of subsidiaries in India, Germany, Austria, China, Hong Kong, Japan, South Korea, Taiwan and the United States.

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