The ambassador was received by Georg Storandt, head of Global Sales of Red Bull, and several senior executives of the group.
At the meeting, Hoang highlighted key features of Viet Nam’s socio-economic development, emphasizing the growing size of the economy, its high level of openness, improving connectivity with regional and international markets, and deeper international integration.
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Ambassador Vu Le Thai Hoang ̣(first, left) and his spouse visit the headquarters of Red Bull in Salzburg, Austria. |
The ambassador said Viet Nam is continuing to improve its investment environment and prioritize high-quality projects with strong technological content, high value added and the potential to connect with domestic and regional production and supply chains.
Speaking highly of Red Bull’s development from an Austrian energy drink brand into a global company, the diplomat welcomed the firm’s growing interest in the Vietnamese market. He noted that with a large population, a relatively young demographic, rising purchasing power and a high degree of international economic integration, Viet Nam still offers considerable room for international businesses to expand their operations.
Hoang encouraged Red Bull to grasp the new wave of investments by European and Austrian businesses in Viet Nam, as well as those from the Association of Southeast Asian Nations (ASEAN), thereby making more effective use of opportunities arising from the E.U.–Viet Nam Free Trade Agreement (EVFTA).
In addition to production and business activities, he called on the group to strengthen connections with Vietnamese partners and consider supporting and accompanying cultural and sporting activities in Viet Nam as in line with its brand development strategy associated with sports, creativity and dynamism.
For its part, Storandt said Red Bull’s leaders highly valued the pace of Viet Nam’s development and its increasingly deep economic integration. He also expressed an impression of the country’s connectivity with regional and international markets.
According to him, Viet Nam is emerging as a market with considerable potential for the energy drink industry. The Red Bull representative expressed confidence in the development prospects of the Vietnamese market and said the group hopes to continue seeking and expanding connections with Vietnamese partners to explore specific cooperation opportunities.
Founded in Austria by Dietrich Mateschitz in 1984, Red Bull’s revenue exceeded 12 billion EUR, equivalent to around 13.79 billion USD, in 2025. The group currently has a brand-sharing partner in Thailand, one of its important markets in Southeast Asia.
At the meeting, the two sides agreed that making more effective use of opportunities arising from the EVFTA is important to promoting economic ties between Viet Nam and E.U. member states, including Austria. Stronger business connectivity is expected to help expand trade and investment cooperation while opening up new areas of collaboration.
The meeting took place against the backdrop of positive developments in Viet Nam–Austria trade and investment ties. The two countries are also preparing activities to mark the 55th anniversary of their diplomatic relations in 2027, providing fresh momentum for bilateral collaboration, with economic, trade and investment ties and people-to-people exchanges remaining important areas.
Hoang affirmed that the Vietnamese Embassy in Austria stands ready to serve as a bridge, supporting businesses from both countries in exploring markets, exchanging information and connecting with partners, thereby helping turn Viet Nam–Austria cooperation potential into concrete projects and results.
Source: VNA