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The Japan Times
WORLD EYE REPORTS
AUSTRIA |
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©THE JAPAN TIMES
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Saturday, November 30, 2002
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 Investors don't need a microscope to see Austria's advantages. Here, an Austria Mint specialist checks a mold for one of the euro coins.
Europe's prime investment location
Famous for its magnificent mountains, lilting music and glittering cafe society, Austria has always been able to count on its rich history and tradition. For centuries, it has enjoyed an unrivaled cultural position in Europe. In 2002, modern Austria has also assumed a key role in the growing European
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Erema - This world leading company for plastic recycling solutions with more than 1,600 plants worldwide and 150 plants supplied to Japan now has an office in Yokohama. Erema Japan Corporation is now open to all trade houses in Japan. www.erema.at
Panasonic Austria celebrates its 50th anniversary in Austria this year. Over the years, the company has achieved a solid position in a market described by its managing director, Rupert Loschnauer, as "receptive and open the new innovations." Always looking ahead, Panasonic Austria is anticipating success in the next 50 years by focusing on customer-centered solutions. Another key for the company will be maintaining its consistently high level of customer service. Visit the Web site for the latest information on Panasonic's operations in Austria, new products and company information. In German and English. www.panasonic.at
Austrian Marine Equipment Manufacturers have been offering problem-solving capabilities and high-level expertise to Japanese shipbuilders for decades. They are preparing to join Japanese partners in establishing an electronic platform that manages ships during their entire life cycle - from managing the basic design and engineering, information flow, value, physical goods and services to repair and maintenance. www.marine.co.at
eBox
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Union. A prime investment location for international business, Austria boasts economic strength and stability, along with close ties to Central and Eastern European countries that are preparing to join the EU. It stands ready to face the challenges of economic growth and expansion in the 21st century.
Following Austria's entrance to the European Union in 1995, the country has seen great changes both politically and economically. Currently the government's overarching economic policy favors deregulation, privatization and the liberalization of markets: a policy that is benefiting Austrian businesses and enticing an increasing number of foreign investors to the country.
Despite the country's neutral political stance, the government's drive to assist Austrian businesses and draw investment is anything but middle of the road. Significant steps to create a more liberal society have led to fair treatment in labor disputes, low inflation, high productivity and an attractive tax system - all of which add to the current business environment. FULL STORY
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Mutual understanding is key for a strong Austrian - Japanese partnership
For European companies, sound knowledge of Japanese work practices is vital to establishing long-lasting business relationships with their counterparts in Japan. The understanding and trust built from such knowledge has been key to the success of the Vienna-based Austrian company, Toyota Frey.
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 Shoichiro Toyoda, honorary chairman of Toyota Motor Corporation (right) joined by Akio Ijuin, the japanese ambassador to Austria (left) and KR Friedrich Frey (Center), managing director of the Austrian company Toyota Frey, along with their wives at the inauguration of Vienna's Lexus showroom earlier this year. |
Friedrich Frey, managing director of Toyota Frey, looks back to the beginnings of the partnership: "When we began working with Toyota in 1971 it was initially quite difficult. The name Toyota was not yet very well known in Austria. However, our company - Frey - already had a strong reputation in the market. So Austrian customers began trusting the name Toyota early on. In that first year, we sold 4,000 units, double the amount we expected at the time. In the second year we sold 9,000 units."
Over three decades later, Toyota Frey has seen the business flourish throughout the country with 97 percent of the company's dealers having exclusive Toyota dealerships. "Now we have 106 dealers, 47 sub-dealers and cover the whole of Austria," Frey says with evident pride. "We have four dealerships in Vienna and plan to establish two more next year. We want the best dealers so we permanently train our sales and service people, and also provide product training when we receive a new model." FULL STORY
 Austrian Mint President Dietmar Spranz
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There is gold in the Japanese market
The Austrian Mint is recognized as one of the world's most respected, with over 800 years of experience. From its production of the world's most famous silver coin - the Marie Theresa - to its role in the launch of the Euro, the entity has always been proud of the quality and design of its coins. This world-class reputation has enabled the Mint to target the Japanese investment coin market with outstanding results.
The Austrian Mint played an important role in the launch of the Euro in 2001 - helping realize the decades-long vision of a single currency for Europe. Grounded in centuries of experience, the Mint was more than equipped to take on the challenge of the Euro's historic and complex introduction process.
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"Looking back on the launch, it was one of the greatest events in the history of currency," explains the company's Mint Master and president, Dietmar Spranz. "Never before had 12 countries voluntarily taken on a common currency, let alone on the same day. Here in Austria, it went very smoothly. To bring it through with no serious problems was a remarkable achievement." FULL STORY
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Austria
Area: 83,858 sq. km
Capital: Vienna
Population: 8.16 million
Currency: euro
Average exchange rate: $1=.99
Total GDP : 210.86 billion
GDP growth rate: 1 percent (2001)
GDP per capita: $22.900
Inflation: 2.66 percent
Unemployment: 3.9 percent
Total exports $63.2 billion
Total imports$65.6 billion
Top imports: Machinery and equipment, chemicals, metal goods, oil and oil products, vehicles, foodstuffs
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Top exports: Machinery and equipment, paper and paperboard, metal goods, chemicals iron and steel, textiles, foodstuffs
Main exports markets (% of total) Germany (35%), Italy (8%), Switzerland (5%), Hungary (5%), France (4%)
Main import markets: Germany (42%), Italy (8%), US (5%), France (5%), Switzerland (3%)
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 Sources: CIA Factbook, Wirtschaftskammer Osterreich, |
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