Vienna International Industrial Company News

Austria Strengthens its Economic and Diplomatic Relations with Africa

Austria has increased its focus on its economic and diplomatic relations with Africa. The country's trade with sub-Saharan Africa amounted to 2.28 billion euros in 2022, or about 0.56 percent of Austria's total trade volume. Austrian exports to the region increased by 15.7 percent year-on-year to 1.33 billion euros. South Africa, Mali, and Nigeria were the main export markets. Read more about why Africa is important for Austria!

September 28, 2023

Japanese Takeda Lays Foundation Stone for "Laboratory of the Future" in Vienna's Urban Lakeside Aspern

In a symbolic act, the foundation stone was laid for Takeda's "Laboratory of the Future" in Vienna's Seestadt Aspern. With an investment of around 120 million euros, the Japanese pharmaceutical giant represents the company's largest investment to date in Austria in a technically and ecologically optimized new building for biopharmaceutical research and development.

September 22, 2023

Skills Shortage in Austria: Companies Feel Pressure, But Also Opportunities

A recent study by the recruiting platform Stepstone shows that the shortage of skilled workers is leaving a clear mark on Austria's companies. Two-thirds of respondents are concerned about the additional workload caused by unfilled positions. This is despite a slight increase in advertised vacancies of 2 percent in the first half of the year, with some sectors such as engineering, care, and construction even seeing significant increases.

September 13, 2023

Historic Center of Vienna Remains on the UNESCO Red List

The historic center of Vienna remains on UNESCO's red list of endangered World Heritage Sites despite recent changes to the Heumarkt project. This was decided by UNESCO. Now it is being examined whether the project is compatible with World Heritage in this way.

September 13, 2023

Austrian Army Modernizes its Tank Fleet in Germany

In the presence of the Minister of Defense, Klaudia Tanner the first "Leopard" main battle tank from Wels was handed over to the European armaments company Krauss-Maffei Wegmann and Nexter Defence Systems (KNDS). The aim of this initiative is to modernize the tank so that it meets current technological and military requirements.

September 11, 2023

Green Peak Festival 2023: Austria's Pioneer for Climate Protection and Entrepreneurship

The renowned Green Peak Festival, which has established itself in the heart of Vienna as Austria's flagship event for sustainability and entrepreneurship, impressed once again. For the second year in a row, over 800 participants gathered to network, exchange ideas and discuss the latest developments in sustainability. The project was supported this year by the Embassy of Israel.

September 11, 2023

Ukraine Secures Grain Export through Croatian Adriatic Ports

Ukraine has reached an agreement with Croatia to export grain through ports on the Adriatic Sea. The agricultural goods are to be shipped to Croatia via the Danube and from there they will be transported further to the Adriatic coast.

August 1, 2023

PÜSPÖK and UNESCO: Empowering Climate Action through Nature Conservation and Renewable Energy

The Austrian company PÜSPÖK, a rapidly growing company in the field of renewable energies, is actively committed to climate, environmental, and nature protection. By supporting the initiative "Klimapartnerschaft.at", PÜSPÖK is committed to the preservation and protection of the largest primeval forest remnant in the Alpine arc, the UNESCO World Natural Heritage "Wilderness Area Dürrenstein-Lassingtal", thus contributing to the protection of a rare ecosystem and unique biodiversity.

July 25, 2023

Plants as Climate-Friendly Air Conditioning: City of Vienna Promotes Greening of Buildings

The positive effect of green buildings on the climate is undisputed. To promote the implementation of green buildings, the City of Vienna provides generous subsidies of up to € 20,200. Interested parties can obtain free advice on this subject from Eco Counselling (DIE UMWELTBERATUNG) in Vienna.

July 23, 2023

State Secretary Tursky Emphasizes Goal of European Chip Sovereignty at Austrian Company AT&S

During his visit to Leoben, Florian Tursky, the State Secretary for Digitization and Telecommunications at the Ministry of Finance, was given an insight into the new research and production center of the global high-tech group AT&S, which is currently being realized at the company's headquarters.

July 19, 2023

Exploring Vienna's Sustainable Solutions: Unusual Excursion Tips by MA 48

Waste prevention and waste separation as well as a clean city are among the central goals and concerns of street cleaning in Vienna (MA 48). MA 48 invites all interested parties to visit its facilities free of charge.

July 18, 2023

OMV's Polyolefins Business Cooperation: Concerns Raised as Greens Question Borealis' Future

Austrian energy company OMV has decided to pursue negotiations with ADNOC, the state-owned oil company of the United Arab Emirates, on potential cooperation of their polyolefins business. This reinforces certain concerns of the critical voices on the OMV-ADNOC deal.

July 16, 2023

Wealth of the Richest Austrians Grows Despite Global Trends

In its latest issue, the business magazine "trend" publishes its annual ranking of the "100 richest Austrians". In contrast to some global studies, which show a slight decline in the ownership of the super-rich, Austria shows a different development. The assets of the 100 wealthiest individuals and families increased by five percent to a total of around 210 billion euros.

July 11, 2023

European Union's Space Program Contributes to UNOOSA's "Space2030" Agenda

The United Nations Office for Outer Space Affairs and the European Union Agency for the Space Programme have joined forces to unveil a groundbreaking report aiming to shed light on the crucial role played by the European Union in advancing the objectives of the "Space2030" Agenda and addressing long-term sustainable development concerns facing humanity.

June 13, 2023

NEFI Study Shows Paths to Climate-Neutral Industry in Austria

A recent study by the innovation network NEFI - New Energy for Industry has provided important impetus for a climate-neutral future for Austrian industry. In 2021, the domestic manufacturing industry was responsible for more than one-third of the total CO2 emissions in Austria. The NEFI experts have now developed three scenarios that show concrete ways to transform the industrial energy system.

June 11, 2023

Vienna Business Agency and Climate Lab For Sustainable Economic Development

Since its founding in September 2022, the Climate Lab has strived to achieve Austria's climate neutrality targets and the goals of the Austrian circular economy strategy as quickly as possible through innovative collaborations and alliances.

June 4, 2023

Congo’s Foreign Minister Visited Vienna

Austrian Foreign Minister Alexander Schallenberg welcomed his Congolese counterpart Jean-Claude Gakosso to a meeting in Vienna. They discussed the economic relations between the two countries and Congo’s security issues.

March 16, 2023

New Rotunde Will Be Built at Vienna Prater

A New Vienna Rotunde Will be Made at Prater. The Rotunde was a monumental building that was presented at the World Expo 1873, the first Expo in Vienna. In 1937, the building caught fire and was destroyed by the flames. Today it is experiencing its renewal.

March 7, 2023

Ministers of German Speaking Countries in Vienna

The economic ministers of the German-speaking countries, namely from Germany, Switzerland, Austria, and Liechtenstein met in Vienna to discuss several economic measures from the past and for the future.

February 13, 2023

Schallenberg Warns About Nuclear Weapons on the Anniversary of the TPNW

On the second anniversary of the Treaty on the Prohibition of Nuclear Weapons (TPNW), Austrian Foreign Minister Alexander Schallenberg gave strong warnings about the threats and use of nuclear weapons.

January 22, 2023

Austria Promotes Energy Research with 17 Million Euros

The Climate and Energy Fund promotes innovations for clean, affordable and reliable energy supply. The aim is to strengthen Austria as a location for innovation and to improve export opportunities for the domestic economy. A total of 17 million euros is available for the program, endowed from the funds of the Ministry of Climate Protection (BMK).

December 29, 2022

What are the Seibersdorf Laboratories?

Nuclear technologies and applications should be safely researched under international supervision. In Seibersdorf, Austria, the International Atomic Energy Agency maintains eight nuclear applications laboratories. Read on to find out more about the Seibersdorf Laboratories!

November 17, 2022

Austria Awards State Prize for Innovation

The State Prize Innovation 2022 from the Austrian Ministry of Labor and Economy goes to the Lower Austrian company DSM Austria GmbH. With their innovation, they make an important contribution to the safe and healthy nutrition of animals and humans.

November 16, 2022

What is the Alps-Adriatic Economic Network?

Since 2007, the Network of Chambers of Commerce, Industry, Crafts, Agriculture and Economy of the New Alpe Adria (NAAN) has been working to deepen economic relations. It now comprises - with the new addition of Bolzano - ten chambers from Austria, Italy, Slovenia and Croatia. According to the Austrian Chamber of Commerce, with one million member businesses, NAAN is making rapid progress toward becoming an EU Alps-Adriatic macroregion. Read more to find out about the project.

November 7, 2022

Austria Increases Contribution to World Food Program to 60 Million Euros

The Russian invasion of Ukraine has brought the issue of food supply into global focus. Therefore, the Austrian Federal Ministry of Agriculture and Forestry budget will be increased to 20 million euros annually from 2023-2025. A strategic partnership between Austria and the World Food Programme (WFP) is also in the works.

October 16, 2022

Austria's Economy Demands Help with Energy Crisis

Many companies in Austria are currently struggling with the high energy prices. Now the Austrian Federal Economic Chamber and the Federation of Austrian Industries are calling for political intervention to prevent company closures.

September 27, 2022

ICARST 2022: Applying Radiation Science and Technology in Everyday Life

The International Conference on Radiation Science and Technology (ICARST) organized by the IAEA will be held this week in Vienna. Determining the presence of microplastics in environmental samples, removing pesticides from agricultural soil and studying how to grow tomatoes in outer space are all possible thanks to radiation techniques and will be discussed.

August 22, 2022

Virtual Economic Forum between Tunisia and Austria

A Virtual Economic Forum titled "Tunisia & Austria - Promoting Business & Investment Cooperation", was held online by the Tunisian Embassy in Vienna and the Austro-Arab Chamber of Commerce (AACC) in collaboration with the Tunisian Foreign Investment Promotion Agency (FIPA Tunisia).

August 7, 2022

How the USA Assesses the Austrian Economy

Every year, the United States government publishes a report that informs US companies and investors about the business climate in more than 160 countries and economies, including Austria. In this US State Department report, business officials at embassies and missions around the world prepare and analyse a variety of economies that are or could be markets for US companies of all sizes. Read on if you want to know how the US views the Austrian economy!

August 4, 2022

Earth Overshoot Day: World has Already Used Up Resources

The Earth's natural resources for this year will have been depleted by tomorrow. By tomorrow, ecosystems would need about a year to replenish their resources. According to the Global Footprint Network, which is based in the United States and Switzerland, Earth Overshoot Day is slightly earlier this year than last.

July 27, 2022

European Forum Alpbach Will be Opened by Moldovan President Maia Sandu

The Moldovan President, Maia Sandu, will attend the opening of this year's European Forum Alpbach (EFA) together with Federal President Alexander Van der Bellen on August 22. At the start of the event, they will jointly address the EFA's annual theme, The New Europe, and discuss what consequences, in light of Russia's Invasion of Ukraine, Europe must draw from its current weakness and its inaction in the past.

July 27, 2022

Austria has the Highest Share of Female Startups in the EU

The Federal Ministry of Labor and Economy (BMAW) had surveyed the financing situation of female startups for Austria and Europe and discussed it at a startup breakfast together with representatives of the startup community at the BMAW. At 36 percent, Austria currently has the highest proportion of female startups in the EU.

July 20, 2022

Austria's Foreign Trade Achieves Strong Growth

In the previous year, there were strong increases in foreign trade compared to the first CoV year 2020. It is pleasing that almost all federal states were able to record a positive foreign trade balance.

July 15, 2022

Why Germany and Austria Are More Dependent on China for Strategic Raw Materials than on Russian Gas

China has established global dominance over many of the strategic raw materials needed to be competitive in the economy of the future. Read how Austria, Germany, and others have arguably become more dependent on these materials from China than on Russian gas.

July 5, 2022

Austria as an International Leader in Research and Development Expenditures

Austria is one of the top performers in Europe in terms of expenditure on research and development. With a value of over 3% of GDP, Austria is thus one of the few countries to reach the EU's specified quota. Austria is also very successful in other areas on average in the EU. Read more in the following article!

July 4, 2022

Austria Supports Women From Ukraine With Their Integration Into Austrian Working Life

The 100 Women - 100 Opportunities program supports Ukrainian women with their integration into the Austrian labor market. This New COMPASS Support Program was initiated by Austrian Federal Minister for Women, Family, Youth and Integration Susanne Raab, the Austrian Integration Fund, LEA and private businesses.

June 7, 2022

How China's Global Infrastructure Strategy Undermines European Integration in the Western Balkans and Beyond

The accession of the Western Balkans countries into the European Union continues to be a topic of debate amongst the EU Member States. Read how China's global infrastructure strategy may be undermining these countries' aspirations for EU membership.

May 19, 2022

Construction Giant Strabag Removes Russian Voice on Supervisory Board

At the recently held Extraordinary General Meeting of STRABAG SE, Thomas Bull, a member delegated by the major shareholder Rasperia, was dismissed. His company is owned by the Russian oligarch Oleg Deripaska, who must therefore completely relinquish his control over Strabag.

May 5, 2022

Reform of the Red-White-Red Card: Facilitation for Workers From Abroad

The Red-White-Red Card, which allows its holders access to the Austrian labor market, is to be made easier to obtain in the future. This was recently announced by Minister of Labor Kocher and Minister of Economics Schramböck. Relaxations in the approval procedure are intended to attract more skilled workers to Austria in the future in order to combat the acute shortage of skilled workers in the country. The Chamber of Commerce and the Federation of Austrian Industries are delighted.

April 28, 2022

Russo-Ukrainian War - EU Adopts Fifth Sanctions Package to Put Pressure on Russia

Recently, new sanctions against the Russian state were published. The EU is trying to put economic pressure on the Kremlin and cut off the sources of financing for the invasion of Ukraine. What new measures are taken, you can read here.

April 8, 2022

Austria as a Pharma Industry Location: 50 Million Euro Investment Package for the Life Science Sector

In order to strengthen one of the most important economic sectors of the domestic economy, the pharmaceutical industry, the budget for the funding program "Austrian Life Sciences" was recently presented. Minister of Economics Margarethe Schramböck hopes that this will make Austria more attractive as a business location for life science companies.

April 1, 2022

Trip to Israel: Market Exploratory Mission to Promote Austrian-Israeli Economic Relations

The Israeli-Austrian economic partnership is becoming increasingly important. Now Foreign Minister Schallenberg and Economics Minister Schramböck visited the Israeli state to intensify economic relations and to attend the opening of a major infrastructure project with Austrian participation.

March 31, 2022

Austria Enhances Bilateral Economic Relations with Conflicting Neighbors India and Pakistan

The initiative ReFocus Austria, accompanied by Austria's Foreign Minister Alexander Schallenberg, visited the emerging republics of Pakistan and India in recent days. The aim of the trip was to establish economic relations and promote mutual investments. Read on if you want to know which sectors are in particular demand.

March 23, 2022

Russian Operations of Strabag: Haselsteiner Cancels Syndicate Agreement with Holding Company of Oligarch Oleg Deripaska

Recently, the Haselsteiner Family Private Foundation informed the Strabag Board of Directors that it has terminated a syndicate agreement between the main shareholders. Previously, several attempts to buy up all the shares of the major Russian investor Oleg Deripaska failed.

March 15, 2022

OMV Subsidiary Borealis Declines Offer from Russia’s EuroChem for Fertilizer Business

The planned sale of the Linz-based fertilizer division of OMV chemicals subsidiary Borealis to Russian-Swiss group EuroChem has been canceled. According to a press release, Borealis has decided to reject EuroChem's offer.

March 14, 2022

Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies

Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.

February 23, 2022

Sony DADC Austria AG Tightens Production Program

The decline in the production program of optical storage media (CDs and DVDs) forces Sony DADC Austria to terminate and redeploy towards BioSciences and digital services.

February 22, 2022

Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies

The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.

February 8, 2022 · Updated: February 11, 2022; 08:35

TTTech Auto Becomes USD-Unicorn in Automotive Technology

By raising an additional EUR 250 million from Aptiv and EUR 50 million from Audi in its latest funding round, TTTech Auto will be enabled to expand its product portfolio for automotive manufacturers and technology partners, to expand internationally in key regions and to extend its capabilities through strategic M&A and product investments.

February 10, 2022

EXPO 2020 Dubai: Extraordinary Austria Pavilion Wins Multiple Awards

The Austria Pavilion at EXPO 2020 Dubai has now won yet another award. Read about the multiple awards the pavilion has won and why it is receiving so much recognition.

February 8, 2022