Austria's 'Economy and Security' Forum Opens Doors for Local Businesses in Defense Value Chains
Austria's Armed Forces modernization and EU security initiatives have opened doors for local businesses to participate in security-related value chains. The first 'Economy and Security' forum in St. Pölten, hosted by Governor Johanna Mikl-Leitner, brought together local companies, politics, and authorities to explore these opportunities, with a focus on innovative small and medium-sized enterprises.
The EU Commission President Ursula von der Leyen aims to mobilize 800 billion euros for rearmament, targeting artillery, drone technology, anti-tank systems, and cybersecurity. Meanwhile, Austria's federal government plans investments of up to 20 billion euros in its Armed Forces by 2032. Despite a setback with a Tunisian deal due to ministry delays, the Austrian government is pushing for relaxed export regulations and more cooperation between contractors and domestic suppliers.
The 'Economy and Security' forum, attended by 20 entrepreneurs, Military Commander Georg Härtinger, and industry presidents, discussed these prospects. Volker Fuchs, CEO of Test-Fuchs, showed interest in new projects, particularly in domestic maintenance and servicing. The economic agency ecoplus will coordinate future collaborations, and the forum will be held annually.
With the modernization of the Austrian Armed Forces and EU security initiatives, local businesses have new opportunities to engage in security-relevant value chains. The first 'Economy and Security' forum marked a significant step in fostering collaboration between the government, military, and private sector, with plans to continue this dialogue annually.
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