Austrian Investment News and Analysis

Austria's Second Amazon Distribution Center Opens in Vienna

Amazon opens its second parcel distribution center in Austria. 120 employees will work in the 7,900 square meter building.

August 20, 2020

Austrian Chamber of Labour: EUR 315 Million Could Create 75,000 Jobs

According to an expert of the AK Austrian Chamber of Labour, 75,000 jobs can be created with the spending of EUR 315 million. This might be worth a thought in an economic challenging situation due to Covid-19.

August 18, 2020

Subsidies for New Investments in Austrian Economy

The Austrian government has put in place an investment subsidy in order to support the Austrian economy during the Covid-19 crisis. Business investments will be subsidized with up to 14% of the eligible costs.

August 17, 2020

Visit of US Secretary of State to Austria Results in a Joint Declaration by Austria and the United States

A joint declaration by Austria and United States was issued as part of US Secretary of State Mike Pompeo's visit to Austria. The declaration included, among other topics, commitment to rebuilding efforts after the Covid-19 crisis and the creation of an even better bilateral dialogue.

August 15, 2020

Foreign Direct Investment into Austria Last Year Still Unbroken

According to the Austrian Business Promotion Agency for foreign corporate investors, 462 international companies with an investment volume of 1.85 billion euros were still being supported in 2019 in establishing a business in Austria. This resulted in the creation of almost 5,000 new jobs.

July 27, 2020

ABA - Invest in Austria: 270 Attendees at Austrian Business Agency Event

According to "ABA - Invest in Austria: Austrian Business Agency", 270 companies interested in investing in Austria took part in the first virtual open day to learn about new business models and general conditions for foreign companies in Austria during and after the Corona crisis.

June 25, 2020

Arab - Austrian Expert Forum on the Economic Challenges in Light of Corona Pandemic

The economic obstacles that the Arab world faces due to the wide spread of the coronavirus, the enormous medical efforts that are being made to find a cure for this virus, and the challenges that the economic and trade relations between Arab countries and Austria in particular face in times of the coronavirus, were the main topics that centered around the geneticist and molecular immunologist Prof. Dr. Josef Penninger.

June 22, 2020

Novartis Opens Production Facility for Innovative Eye Retina Product in Tyrol

The pharmaceutical company Novartis is investing EUR 27.4 million in the Kundl site in Tyrol to produce an active ingredient for a new therapy for wet age-related macular degeneration with 40 employees.

June 20, 2020

Another COVID Casualty: Austrian Airline Discontinues Flight Operations

The Austrian low-cost airline "Level" and subsidiary of British Airways (IAG International Airlines Group) has discontinued flight operations with immediate effect. The airline was hit hard economically by the consequences of the Covid 19 pandemic in Europe. A continuation of flight operations is not planned. About 200 employees in Vienna are affected by the bankruptcy.

June 19, 2020

Investing in Vienna: All-time High for the Settlement of International Companies

In 2019, the City of Vienna in cooperation with the Austrian Business Agency (ABA) was able for the eighth time in a row to set a new settlement record with 266 international companies settling in the city. With 25 companies settling in Vienna, the USA came second in the list of the ten most important countries of origin, behind Germany with 61 projects.

June 2, 2020

Investing: Why Your Company Should Establish a Branch in Austria

Every crisis also opens up opportunities e.g. to revise your current strategy and to develop a new one - and time to consider new markets to expand to. Austria stands out in Europe as a highly developed business location and has weathered the crisis well so far.

May 22, 2020

Ryanair's Laudamotion to Close Vienna Base

Laudamotion closes its base in Vienna on 29 May, 300 people lose their jobs. The trade union Vida did not agree to an ultimatum by the airline, which would have brought a new collective agreement with significantly lower wages.

May 22, 2020

COVID-19 Drug Made in Austria

Austrian biotech company Apeiron Biologics AG, which is currently working on a drug to treat the coronavirus, announces financing round for the further development of the COVID-19 drug APN01.

May 19, 2020

Austria Becomes Self-sufficient in the Supply of Mouth and Nose Masks

Hygiene Austria LP GmbH, founded only 4 weeks ago by a cooperation of Lenzing AG and Palmers Textil AG with the aim of producing and selling protective masks for the domestic and European market, was made known to a wider public today by the visit of Federal Chancellor Kurz and Minister of Labour Christine Aschbacher, and two weeks ago by the visit of Federal Minister Margarete Schramböck.

May 19, 2020

War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network

While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.

May 18, 2020

Another Electric Rental Scooter Has Arrived in Vienna

"Emmy", a Berlin-based start-up and electric scooter sharing company is rolling into Austria. The scooters are now also available for short-term rental in Vienna in addition to major German cities. Further Austrian cities are to follow.

November 15, 2019

Austrian Airlines Sacks 10% of Its Workforce

AUA Austrian Airlines is planning drastic job cuts. Of the current 7,000 jobs, one in ten will be cut by the end of 2021. 700 to 800 employees are expected to be affected. EUR 90 million should be saved annually.

November 7, 2019

Austro-Arab Chamber Secretary General Receives “Decoration of Merit in Gold of the Province of Vienna”

The AACC Austro-Arab Chamber of Commerce in Vienna announced that Secretary General Dipl.-Ing. Mr. Mouddar Khouja was awarded the "Decoration of Merit in Gold of the Province of Vienna", in recognition of his dedication and devotement to the province of Vienna through his personal initiatives and in his professional capacity as Secretary General of AACC.

November 4, 2019

30th Anniversary Celebrations of Austro- Arab Chamber of Commerce

The AACC Austro-Arab Chamber of Commerce held a gala in the ballroom of the Vienna City Hall on the occasion of its 30th anniversary and on the occasion of the 11th Arab-Austrian Economic Forum & Exhibition.

October 25, 2019

Buy Local - Invest Global: How to Invest Your Money on the Vienna Stock Exchange

Expats in Austria now have access to over 680 internationally sought-after securities from 26 countries at local conditions.

October 25, 2019

Austria Connect Greater China: Digital Transformation and Tomorrow's Customers

The Austrian Chamber of Commerce in Hong Kong hosts the largest Chinese-Austrian networking event in Asia.

October 22, 2019

Number of Foreign-Controlled Companies in Austria Up By Around 6%

The number of Austrian companies that were part of a foreign group or owned by foreign shareholders rose by 5.9% to almost 11,500 in 2017.

October 4, 2019

Federation of Industries Warns Against Wrong Location Policy Decisions

In the context of the current election discussions, the Federation of Austrian Industries (Industriellenvereinigung) appeals to the political rationality of all parties with regard to location not to take short-sighted and ill-considered decisions.

September 20, 2019

Investing in Austria: New Provisions for the Screening of Foreign Direct Investments

The Federal Ministry for Digital and Economic Affairs recently published a consultation draft for amendments to those provisions. The new regulation is supposed to create more transparency and certainty around FDIs in Austria.

September 19, 2019

Lower Austria as a Business Location Presents Itself at the Alpbach Business Talks

Also this year Lower Austria presented itself at the economic talks of the Forum Alpbach as an innovative business location through its business agency ecoplus and as an outstanding culinary region through the initiative "Thus tastes Lower Austria".

August 29, 2019

Pfizer Invests 50 Million Euros in Lower Austria

Pfizer is expanding its site in Orth an der Donau by investing 50 million euros in the construction of new laboratories for an international quality control center for vaccines, the construction of modern office space and the modernization and expansion of the existing production infrastructure. Pfizer already produces two vaccines for worldwide export in Orth an der Donau.

August 28, 2019

Ikea Logistics Centre Vienna Completed: €70 Million Investment Volume

One year after the start of construction work, the Ikea logistics centre with 43 loading gates has been completed. To date, Ikea has invested more than 70 million euros in the site. The site will have a total of 150 employees.

August 25, 2019

RBI: Significant Decline in Profits in the First Half of 2019

Stock Exchange-listed RBI Raiffeisen Bank International recorded a significant 25% decline in profits in the first half of 2019. The consolidated profit generated was only €571 million, compared to €756 million in the first half of 2018.

August 8, 2019

BMW to Invest 28 Million Euros in Salzburg Location

Within the framework of a festive event under the theme "Good for Salzburg. Good for Austria." the BMW Group recently laid the foundation stone for its new BMW Group Campus Salzburg for Central and Southeastern Europe. BMW is investing 28 million euros in the expansion of 400 employees. The inauguration of the new campus is planned for autumn 2020.

August 5, 2019

Uber Suspends all Services in Austria Temporarily

Uber Technologies, the driving service provider, is temporarily discontinuing all services in Austria. The reason for this is a temporary order issued by the Commercial Court of Vienna. Accordingly, Uber Technologies requires a subsidiary and a trade licence in order to offer its services.

July 25, 2019

Improvements in the Incorporation of an Austrian Private Limited Company

The incorporation of an Austrian Private Limited Company (GmbH) by foreigners is a multi-stage and time-consuming act. Since the beginning of the year, there has been a significant simplification, so that the founders or proprietors no longer have to appear personally before the notary.

July 24, 2019

Hilton Vienna Stadtpark Sold to South Korean Securities Consortium for €333 Mio

The Hilton Hotel near Vienna's Stadtpark is said to have been sold for €333 million ($375 million) to a Korean securities consortium - Hana Financial Investment Co., NH Investment & Securities Co., and Meritz Securities Co. The consortium is planning a modernization for €66 million ( $75 million).

July 19, 2019

Meinl Bank Rebranding - Anglo Austrian Bank Launches with Negative Result of EUR 4.5 Mio

As part of a rebranding, Meinl Bank of Julius Meinl V (59) has renamed itself Anglo Austrian Bank and is relaunching its operations in Vienna with 49 employees in order to respond to the increased demand for qualified asset management in the countries of the former Danube Monarchy and to provide clients with a bridge to the countries and financial markets of Western Europe.

June 28, 2019

Largest Chinese Bank Opened Branch Office in Vienna

China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).

May 28, 2019

ALPS 2019: How Diplomacy and Commerce Fit Together

As part of the 11th ALPS round in May 2019, 21 international company and start-up founders from 13 non-EU countries had the opportunity to make contact with Austrian decision-makers, explore ways of working together and develop new ideas.

May 16, 2019

CETA Complies with EU Law - Austria Signs Free Trade Agreement with Canada

The agreement had been provisionally in force since the previous year and exports to Canada had recently risen by 7.5 percent. Now that the European Court of Justice has ruled that CETA, especially the arbitral tribunals, is in conformity with EU law, this is welcomed in Austria by business-oriented institutions and Federal President Alexander Van der Bellen has confirmed his willingness to sign the agreement.

May 2, 2019

Alibaba's Jack Ma Hosted Lower Austrian Business Delegation

In order to improve bilateral relations and exports between Lower Austria and the Chinese partner province Zhejiang near Shanghai, a large delegation from Lower Austria headed by Governor Johanna Mikl-Leitner was touring East China this week. The plan is to increase goods exports by 100 million euros within four years.

April 26, 2019

Mobile Bank N26 Invests in Tech Centre in Vienna

Germany's mobile bank N26 plans to hire more than 300 software engineers, product managers and IT specialists in Vienna in the long term and up to 100 in the medium term. The office is scheduled to open in autumn 2019, and specialists will be recruited with immediate effect.

April 26, 2019

McDonald's Austria: Record Year for System Catering Market Leader

With an increase of 52 million euros (+ 8%), the Austrian subsidiary of the US system gastronomy market leader McDonald's achieved sales of 674 million euros in 2018.

April 9, 2019

Organized International Cum-Ex Tax Fraud in Austria - 183 Million Euros Damage

In connection with dividend stripping, the tax fraud model "Cum-Ex" was created, which deliberately allows the multiple refund of capital gains tax paid only once. According to a report in today's Ö1-Morgenjournal, presumably mainly Arab investors, in cooperation with domestic financial advisors and banks, caused Austrian taxpayers a loss of 183 million euros.

April 9, 2019

Vienna Stock Exchange: High Dependence on UK Traders

In 2018, around 60% of the equity turnover on the Vienna Stock Exchange came from UK trading participants. Hence equity turnover declined by 16.3% compared to the previous year. The most active stocks were Erste Group, OMV and Voestalpine. The SME segment "direct market plus" started with 8 companies, including 4 new listings.

April 3, 2019

International Financial Institutions World Bank Group and IMF Expand Presence in Austria

Important success for Austria's business location policy. According to media reports, the IMF International Monetary Fund will move to Vienna in June, while the World Bank Group will double the staff and size of its Vienna office.

March 29, 2019

Austria to Become Most Sustainable Tourism Destination in the World

Sustainability Minister Elisabeth Köstinger presented the "Plan T - Master Plan for Tourism" in Salzburg. This strategy paper is intended to ensure that Austria not only remains one of the leading tourist destinations, but that this position is further strengthened. For the first time sustainability is anchored as a basic principle for tourism. The strategic realignment of Österreich Werbung (ANTO Austrian National Tourist Office) is also on the agenda.

March 26, 2019

Tourism Location - Austrian National Tourist Office Invests in Digitalization

ÖW Österreich Werbung (ANTO Austrian National Tourist Office) sees very good chances in the dynamic of digitisation for the domestic tourism location to assert itself as a quality destination in global competition.

March 22, 2019

Vienna-Campus of Central European University to be Temporarily Set Up in Southern Vienna

The CEU Central European University of George Soros announces that it has opted for an interim location in Vienna's Favoriten, the "heart of the multicultural 10th district". This campus is scheduled to start operations in autumn 2019. By 2023, the university will be moved as planned to the premises of the Otto Wagner Hospital on Baumgartner Höhe in Vienna's 14th municipal district.

March 22, 2019

Welcome Expats - Vienna Remains the Most Livable City in the World

In 2019 Vienna was again rated by the international consulting agency Mercer as the city with the highest quality of life worldwide. In the special evaluation on the subject of personal security, however, Vienna was only ranked 6th.

March 14, 2019

What is Lukoil and What Does It Do in Austria?

Lukoil Oil Company is the second largest Russian oil multinational with a turnover of USD 102 billion, of which approximately USD 250 million comes from Austria. Lukoil has been represented in Austria since 1995 and currently operates from Vienna four subsidiaries with activities in 40 countries.

March 13, 2019

InvestInAustria - Business Location Initiative Creates Jobs and Prosperity

At "InvestInAustria" 100 international companies from 16 countries were represented. Three new investments (Heitec , Port Energy Logistic, Lasertec ) with a total investment volume of 30 million Euro could be secured and will create jobs and added value in Austria. As an output of the previous event, investments amounting to around 380 million euros were made in Austria and more than 450 jobs were created.

March 1, 2019

Benko-Hyatt Project - New Luxury Lifestyle Hotel Opens in Vienna in April 2019

The first Andaz Hotel in Austria, the boutique hotel "Andaz Vienna Am Belvedere" at the new Vienna Central Station, opposite the 21er Haus and the Schweizergarten, next to the park apartments at the Belvedere, is to be opened on 17 April 2019. It is the second project and a 50:50 joint venture between René Benko's Signa Group and Andaz Hotels, an affiliate of Hyatt Hotels Corporation.

March 1, 2019 · Sponsored Content

Huawei Austria Sponsors Austrian Chinese Business Association

The Chinese technology group Huawei and the ACBA Austrian Chinese Business Association have sealed their cooperation at an evening event entitled "Huawei - Inside & Outside" at the Grand Hotel Vienna. Huawei is disputed internationally because of its 5G wireless network technology and its close connection to the Chinese government. Huawei maintains good business relations with the largest carriers in Austria, A1 Telekom Austria (America Movil), Hutchison Whampoa (Drei Austria) and T-Mobile Austria and supplies them with expensive 5G network equipment. In addition, Huawei will open its first flagship store outside China in downtown Vienna in the summer of 2019.

February 27, 2019