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Reform of the Red-White-Red Card: Facilitation for Foreign Workers
In order to cope with the acute shortage of skilled workers in Austria, access to the Austrian labour market is to be facilitated for foreign workers in the future. The application procedure is to be made easier and the criteria for obtaining the Red-White-Red Card are to be reduced.
June 29, 2022
EXPO 2025 in Osaka: Austria Wants to Strengthen Diplomatic Relations
Austria wants to further expand its diplomatic relations at the World Expo 2025 in Osaka. To this end, Ursula Plassnik, former Foreign Minister and experienced diplomat, has now been appointed an official representative for EXPO 2025.
June 22, 2022
Cooperation Between the USA and Austria - USA Adopts Austrian Education Model
In the future, Austria and the United States will deepen cooperation in the field of labor. The United States wants to copy Austria's successful apprenticeship system in order to counteract the acute shortage of skilled workers in the country. In addition to a regular exchange at the expert level, Austrian companies in the U.S. will also help with the implementation.
April 14, 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
Israel and Austria Move Closer Together: Strategic Partnership Agreement in Preparation
The strengthening of bilateral relations and common economic interests prompted Austria's Foreign Minister Alexander Schallenberg and Economics Minister Schramböck to visit Israel. The invasion of Russian troops in Ukraine as well as talks on the normalization process between Israel and several Arab states were on the agenda.
March 31, 2022
EU - African Union Summit as Driver for Strengthened Economic Partnership between African Countries and Austria
Austria plans to use the upcoming European Union - African Union Summit as a means to strengthen the economic partnership between African countries and Austria. Read more about Austria's plans for strengthening cooperation with Africa.
February 15, 2022
FDI in Austria: ABA Location Agency Serves 364 International Companies
The annual results from the Austrian Business Agency (ABA) show that its location agency serves 364 international companies. Read more about the ABA's annual results and how the agency is helping companies settle into Austria.
February 15, 2022
Economics Minister Schramböck Calls EU Chips Act "An opportunity for Europe"
The European Commission has unveiled its draft for the European Chips Act. Read about the Chips Act and why Economics Minister Schramböck called it "an opportunity for Europe."
February 8, 2022
Expo 2020 Dubai: Austria's Youth Showcase Their Innovation
The four teams that won Austria's "Innovative Youth" competition will get to showcase their projects at the World Expo 2020 in Dubai. Read about the competition and what the winning projects were.
January 27, 2022
"Golden Sunday" Returns: Austrian Non-Food Retailers Allowed to Remain Open on December 19
In an attempt to recoup some of the billions of euros retailers lost out on due to the lockdown in the middle of the holiday season, the Austrian government has announced that non-food retailers will be allowed to remain open on Sunday, December 19 for what is known as "Golden Sunday." Learn which stores the exception applies to and when you can do some last-minute Christmas shopping on Sunday.
December 17, 2021
After Pandemic Shock, Strong Upturn in Foreign Trade: China +26.4 %, USA +18 %
New data for January to September 2021 shows that Austria's foreign trade is returning to pre-pandemic levels. Read about Austria's improving trade figures.
December 10, 2021
U.N. 2030 Agenda for Sustainable Development: Latest Austrian Approaches
In furtherance of the U.N. 2030 Agenda for Sustainable Development, Austria has created the SDG Dialogue Forum Austria. This new annual event is intended to promote partnerships as described in SDG 17 of the U.N. Sustainable Development Goals. Read about this new event and what Austrian EU Minister Karoline Edtstadler said at its first meeting at the Natural History Museum Vienna.
September 30, 2021
World Expo Dubai: Architecture Award for Sustainable Austria-Pavilion
The Austrian pavilion at the World Expo in Dubai by querkraft architekten consisting of 38 white cone towers has won the first prize in the category "Sustainable Architecture" at the Global Design & Architecture Design Awards 2021.
September 29, 2021
Austrian University Spin-offs at the World Expo in Dubai
The World Expo 2020, which retained its name despite being postponed to 2021, will begin in October in Dubai. Various Austrian university spin-offs will present their innovations that will have positive impacts on climate-conscious behavior. These spin-offs include GREENPASS, REEgain, WoodC.A.R., City Intelligence Lab (CIL), Mostly AI's Mostly GENERATE, and Incremental3D's myPot. Read more about Austria's contribution to the upcoming World Expo and what innovations these spin-offs will be presenting.
September 8, 2021 · Updated: September 8, 2021; 16:16
Austrian Business Agency: René Tritscher Succeeds René Siegl
René Tritscher has succeeded René Siegl as the new Managing Director of the Austrian Business Agency (ABA). Read about Mr. Tritscher's views on the future of the agency, as well as his previous experience working for ABA - WORK in AUSTRIA and the Austrian Economic League (Österreichischer Wirtschaftsbund).
August 24, 2021
Economic Opportunity: Malaysian-Austrian Joint Statement on Cooperation
Malaysian Minister of International Trade and Industry Mohamed Azmin Ali met with the Austrian Minister of the Economy Margarete Schramböck. The pair discussed cooperation in the high-tech industry, education and more. The two ministers also signed a joint statement, affirming Malaysia and Austria's intention of further economic cooperation.
August 3, 2021
Business Location: Austria Invests in Broadband Internet
The Austrian government has announced plans of investing EUR 1.4 billion into broadband expansion. The aim of the investment is to strengthen Austria as a business location and to enhance economic development in rural areas. By 2030, a quick and stable Internet connection will be provided nationwide.
April 29, 2021
Extension of Austria's Internationalization Program "go-international" Announced
Austrian Economics Minister Margarete Schramböck and President of the Austrian Federal Chamber of Commerce (WKO) Harald Mahrer extend the joint internationalization offensive "go-international" and provide EUR 25.6 million for the next two years. The funding will focus on the areas of innovation and technology, value chains and digitalization.
April 20, 2021
European Union Digital Day: Schramböck Demands Digital Growth
At the European Union Digital Day, Austria's Minister for Digitalization Margarete Schramböck signed two declarations that create better framework conditions for start-ups and promote green and digital transformation. Schramböck demanded the use of more digital technologies in order to "secure European jobs and value creation."
March 24, 2021
Microsoft Investment in Cloud Data Center Adds €2 Billion in Value for Austria
The data center for Austria, which Microsoft announced last fall as a milestone, is taking concrete shape. Microsoft has acquired operational building land for this purpose. The data center ecosystem is expected to include more than 4,000 local partners and cloud-using customers. It also announced investments in a new Center of Digital Excellence and skills training for up to 120,000 Austrians by 2024.
February 5, 2021
EU Ministers Issue Declaration on "Digital Government"
The EU Ministers responsible for Digitalization have agreed on a joint declaration that focuses on digital society and value-based digital government. Austria's Minister Schramböck sees Austria already on the right track with its various e-government tools and is delighted about the European plans.
December 9, 2020
First Microsoft Cloud Data Center in Austria
Microsoft has announced the establishment of Austria's first ever data center region. Chancellor Kurz says that this "represents a decisive competitive advantage" and thanks Microsoft for the commitment to Austrian companies and their employees.
October 20, 2020
European Ministers Sign EU Cloud Declaration
At the Informal Council of EU Minister for Telecommunication and Digitalization the future of the EU with regard to security, exchange and use of data was discussed. Austrian Minister Schramböck is delighted about the progress made and the signing of the EU Cloud Declaration that should enable an even better exchange of data among member states.
October 15, 2020
EU eGovernment Benchmark 2020: Austria in Top 3
New services on oesterreich.gv.at and the "Digitales Amt" app are having an effect - Austria is one of the top nations in the Europe-wide comparison. Only Malta and Estonia received better results in this year's EU eGovernment Benchmark.
September 24, 2020
First Digital Long Night of Research
Like many other events in 2020, the Long Night of Research will be held virtually this year. Although the live experiences will be missed, the digital format offers a variety of other advantages to the interested public.
September 18, 2020
New Investment Subsidy Should Encourage Businesses to Invest
In order to encourage more investments, the Ministry for Digital and Economic Affairs implemented a subsidy for new investments with focus on digitalization, life science, health and sustainability. The subsidy does not have to be paid back and businesses can apply for it from now on.
September 1, 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
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
Self-Sufficiency in COVID-19 Mask Production
A first step towards Austrian self-sufficiency in mask production for medical protective equipment was taken. In future, it should be possible to produce up to 500,000 corona protective masks of the "Made in Austria" brand every day.
April 8, 2020
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
Opening of the New Austrian Foreign Trade Centre in Vietnam
The Austrian Federal Economic Chamber's largest economic mission to Vietnam and Singapore is currently travelling in Southeast Asia to open a new base in Ho Chi Minh City and to sign a cooperation agreement in Singapore to establish a new Accelerator Programme.
May 16, 2019
How Austria Shapes its Future with Artificial Intelligence
Austria's Government is currently working together with the consulting firm Accenture on an Austrian Artificial Intelligence (AI) strategy, which is to be finalised by summer 2019. A study shows that a 3 percent economic growth is possible. That much is already known.
May 3, 2019
WeWork Cooperation to Facilitate Internationalization of Austrian Start-ups in the USA
The aim of the cooperation between shared workspace provider WeWork and AWS - Austria Wirtschaftsservice is to support innovative Austrian start-ups in their internationalisation in New York and on the US market.
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
What Does the EU-Japan Economic Partnership Agreement Mean for Austria?
The Federal Ministry for Digital and Economic Affairs has calculated that the savings potential through the elimination of customs duties amounts to around one billion euros across the EU and to around EUR 34 million for Austria. For Austria this means a rather modest growth effect of 0.011 percent of GDP.
February 4, 2019
EU-Japan Agreement Secures EUR 34 Million in Jobs and Prosperity in Austria
The EU's Economic Partnership Agreement with Japan entered into force on 1 February 2019. For Austria, Japan is by far the second most important market in Asia and the third most important overseas trading partner. About 1000 Austrian exporters are active in Japan, 80 companies have local branches. In 2017 the trade volume reached an all-time high of 3.5 billion euros.
February 4, 2019
Hollywood in Austria's Mountains - Avalanche Drama Film Follows Current Avalanche Danger
In Tyrol, a Hollywood drama about a married couple whose perfectly believed family life gets completely out of balance when they barely escape an avalanche is currently in the making. Austrian film funding supports the production of "Downhill" with Will Farell and Julia Louis-Dreyfus. With a shooting time of 8 weeks, an added value of 7 million Euros and 10,000 overnight stays is expected.
January 18, 2019
New Austrian Foreign Trade Strategy: Growth, Jobs, Prosperity
In a joint event in the Aula of Sciences, the Federal Government's new foreign trade strategy was presented by Economics Minister Margarete Schramböck, Foreign Minister Karin Kneissl and President of the Chamber of Commerce Harald Mahrer. The key points of the strategy are the following: Perspective, value orientation, location effect, focal points, future orientation, communication, efficient coordination.
December 20, 2018
The New Location Development Act - Significance for Austria's Attractiveness as a Business Location
The Austrian government has passed the highly controversial Location Development Act in the Council of Ministers, which will speed up environmental impact assessments, be passed by the National Council this year and come into force on 1 January 2019. The new legislation will introduce automatic permits for certain energy infrastructure projects (eg, electricity grids and power plants). Positive reactions are coming from industry and politics. Various environmental associations criticise the new law.
November 22, 2018
Austria Strengthening Venture Capital Structures with Seoul and Shanghai
Margarete Schramböck, Austrian Federal Minister for Digitisation and Business, visited Seoul, the capital of South Korea and China's greater Shanghai metropolitan area, together with a high-ranking delegation of experts from the fields of digitisation, science and business, with the aim of strengthening Austria as a location for innovation.
November 9, 2018
Austria in E-Government ahead of Germany and Switzerland
Margarete Schramböck is on the right course. According to a recent study on the e-government situation in Germany, Austria and Switzerland, Austria clearly holds the top position in the e-government country comparison.
November 7, 2018
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