Hanoi's smart city plan entices Austrian investors

Austrian companies want to join the project to develop smart cities and mobility, said Philipp Gady, vice-president of the Austrian Federal Economic Chamber, on April 18.

Hanoi People's Committee vice chairman Nguyen Manh Quyen (center) receives an Austrian delegation led by Philipp Gady, Vice President of the Austrian Federal Economic Chamber, on April 18. Photo: Tu Anh/The Hanoi Times

Austrian companies hope to finalize agreements with Hanoi authorities soon to promote bilateral relations, Gady said at a meeting with Hanoi Vice Chairman Nguyen Manh Quyen.

The Austrian authorities and enterprises expect to strengthen their relations with Hanoi in the fields where they have absolute advantages, including the development of smart cities and mobility, Philipp said.

For his part, Hanoi People's Committee Vice Chairman Nguyen Manh Quyen said that the capital's development plan is now under revision.

"The plan will make smart city development the top priority, and local authorities will encourage the adoption of technologies in road traffic," the vice chairman said.

Under the plan, Quyen added that the city would limit the number of vehicles allowed in the core districts and turn to green energy rather than fossil fuel to reduce environmental pollution.

"The capital aims to fully develop the mass transit network to reduce the number of individual vehicles, and all public buses will run on green energy by 2035," Quyen said.

"Hanoi authorities will submit the plan for discussion at the National Assembly meeting in October," Vice Chairman Quyen said as he welcomed Philippine and Austrian delegates accompanying Foreign Minister Alexander Schallenberg from April 16-18.

"There will be difficulties and challenges in the energy transition, so Hanoi needs the support of experienced and capable international partners."

Therefore, he said it is a pleasure for the city to side with Austrian companies, adding that the Departments of Transport and Foreign Affairs will lead the activities to initiate cooperation with Austrian companies in the future.

Diplomatic relations between Vietnam and Austria were established on December 1, 1972, two months before the signing of the Paris Peace Accords in 1973.

Austria now ranks among Vietnam's top 10 European trading partners. In 2022, bilateral trade was worth US$2.8 billion, with Vietnam exporting nearly US$2.5 billion worth of products to the European nation.