Austrian Business Agency

Austrian Business Agency – Österreichische Industrieansiedlungs- und WirtschaftswerbungsgmbH (ABA-Invest in Austria) is the national investment promotion company of the Republic of Austria.[1] The organization is responsible for acquiring and providing professional consulting services to foreign companies which want to establish a subsidiary or business operations in Austria. ABA provides information about Austria as a business location, and advises companies on all relevant issues. The business settlement agency was founded as ICD Austria by the ÖIAG in 1982, and renamed Austrian Business Agency (ABA) in 1995. On the occasion of its 25th anniversary in 2007, ABA changed its corporate design and now uses the name ABA-Invest in Austria instead of Austrian Business Agency, because it more clearly shows the purpose of the company. ABA-Invest in Austria employs a staff of 25 people.

ABA supported a series of prominent international companies such as Sony, Infineon, Ikea, Matsushita Electric Works, Hutchison Mobilfunk, Holmes Place and Starbucks in their setting up business operations in Austria.[2]

A specialized organization belonging to ABA, Location Austria, has been promoting Austria as an international film location since 1998. Location Austria in cooperation with Austria Wirtschaftsservice GmbH (aws) is responsible for coordinating funding measures within the framework of the initiative "Film Location Austria" (FISA). This comprises an initiative of the Federal Ministry of Economy, Family and Youth to support cinema films based on a non-repayable grant amounting to 25 percent of the Austrian film production costs entitled to funding. The project will last until the end of 2012. Due to the major success of the initiative, the funding model "Film Location Austria" (FISA) has been extended for another two years. For more information refer to www.filmstandort-austria.at.

Areas of Activity

Austria is in competition with the international community of states to attract foreign direct investment. The national investment promotion company aims to promote the competitive advantages of Austria as a business location, and expand the awareness of Austria as an industrial nation. Austria is the second most prosperous country in the EU,[3] but is primarily considered to be a tourist destination and a cultural mecca.

ABA supports foreign companies in establishing their own business in Austria. Potential investors are informed about Austria as a business location, as well as about the economic, political and legal framework. The areas of activity of ABA-Invest in Austria include setting up all necessary contacts in Austria, identification and selection of appropriate sites, compiling all relevant information for a company such as cost factors (e.g. labor and infrastructure costs), tax aspects or the performance of different business sectors in the country. ABA is also available as a consulting partner for all expansion investments. In its Global Investment Promotion Benchmarking 2009,[4] the World Bank rated ABA-Invest in Austria as the best in the world among 181 national investment promotion companies.

On balance, Germany accounts for 27 percent of total accumulated foreign direct investment in Austria, ahead of Italy (14%), the USA (11%) and Switzerland (6%). The most important investor in Austria by far in the year 2013 was Russia, with a share of 42 percent of total foreign direct investment, or EUR 3.63 billion. Germany placed second with a share of 25 percent, or EUR 2,1 billion, followed by Luxembourg, Hungary and Ireland.

Many international companies have set up their Eastern European headquarters in Austria.[5] With 317 CEE headquarters Austria is thus ahead of competitive locations in Poland, Slovakia, Czech Republic and Hungary, which together have 84 regional company headquarters. This is the conclusion of an inquiry carried out by the law firm Wolf Theiss as well as a survey implemented by the consulting organization Headquarters Austria.[6] Numerous international institutions with a focus on the CEE region have established their headquarters in Austria.[7]

Austria is rated among the best in the world in international rankings with respect to the “soft” business location factors such as quality of life, legal certainty, health infrastructure and clean environment.[8]

Number of companies locating in Austria (Source: ABA-Invest in Austria)
Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Companies 82 107 123 152 201 256 158 198 183 201 228

See also

References

  1. ↑ Federal Ministry of Economy, Family and Youth (BMWFJ) of the Republic of Austria
  2. ↑ www.investinaustria.at
  3. ↑ Eurostat 2013, PGDP per capita in PPS
  4. ↑ Global Investment Promotion Benchmarking 2009, The World Bank
  5. ↑ Multinationals with Headquarters in Austria
  6. ↑ WolfTheissRegionalHQinCEE031011_11792_DE.pdf
  7. ↑ Handbook "Internationale Organisationen in Wien"
  8. ↑ World Competitiveness Yearbook 2013, "Quality of life", "Pollution Problems", "Health Infrastructure", "Risk of political Instability"

External links

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