AUSTRIA: GROWTH IN DIRECT INVESTMENT ABROAD
Article Abstract:
Wifo, the Austrian Institute for Economic Forecasting reports that direct foreign investment from Austria reached an all-time high of Sch 45bn in year 2000. New foreign investment corresponded to 1.6% of Austria's gross domestic product. The total investment rose from Sch 233bn to Sch 278bn and corresponded to 9.8% of GDP, while at the beginning of the 1980s the total investment had been less than 1% of GDP and at the beginning of the 1990s 2.5%. However, Austria lags behind other Western countries in foreign investment. Austrian owners were involved in about 15,000 companies abroad, 12,000 of them in former communist countries of eastern Europe. Austrian investors employed 228,000 people abroad, 133,400 of them in eastern Europe. Austrian investment in the former communist countries recovered in 2000, following stagnation since 1997. The upturn is attributed to a number of big projects, Austrian companies reacting to the eastern enlargement of the European Union, and to the Czech Republic and Slovakia increasingly encouraging foreign investment.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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Austria: Pensioners encouraged not to fear euro
Article Abstract:
Austrian pensioners were encouraged not to fear the euro at a "Pensioners' Euro Day" in Vienna castle. The day was organised by the national pensioners' association, which has 287,000 members. Among the speakers were Chancellor Wolfgang Schuessel, who assured the pensioners that bank confidentiality would not be breached, and the general secretary of the European pensioners' association, Willy Mohaupt, who encouraged pensioners to go shopping as normal to keep the economy from suffering after the change to the euro. Another Pensioners' Euro Day has been arranged for 24 November 2001.
Publication Name: Presse
Subject: Business, international
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Year: 2001
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