Vietnam and Switzerland boost investment and trade ties

Among keynote speakers and panelists were Dr. Philipp Rösler, president of the Swiss - Viet Economic Forum; Natalie Rast, head of Bilateral Economic Relations Asia/Oceania, State Secretariat for Economic Affairs of Switzerland; Prof. Dr. Harald Gall, Dean Faculty of Business, Economics and Informatics, University of Zurich; Dr. Urs Lustenberger, Chairman of Swiss - Asia Chamber of Commerce; and  Luong Hoang Thai, director general of the Department of Multilateral Trade Policy under the Ministry of Industry and Trade of Vietnam.

Addressing the function, Vietnamese Ambassador to Switzerland Phung The Long emphasized that the Vietnam - Switzerland Economic Forum 2024 is an opportunity for relevant ministries, localities and businesses of the two countries to share information and seek cooperation opportunities in trade, investment, finance, innovation, research and training, aiming to bring into full play the potential and strengths of each country, contributing to enhancing friendly relations and comprehensive cooperation between Vietnam and Switzerland in the coming time.

In the first panel discussion, delegates delved into policies to support trade, investment, and development cooperation between Vietnam and Switzerland. They shared the potential, strengths, and needs for greater ties, as well as investment attraction policies of Vietnamese provinces and cities, while discussing the potential benefits from the signing of the Free Trade Agreement between Vietnam and members of the European Free Trade Association (EFTA).

The second panel discussion saw delegates exchange views and share policies and cooperation needs in key areas of investment, innovation, renewable energy for sustainable development, and legal regulations in economic ties between the two countries’ business communities.

In the third panel discussion, experts looked into the investment potential and opportunities that exist within the financial sector, financial technology, economic trends affecting financial collaboration, and some Government policies which seek to improve legal framework and financial investment environment in Vietnam.

In the final panel discussion, representatives of businesses and startups introduced innovative products, services and business models, growth potential, and market expansion capabilities with a view to promoting opportunities for connection, innovation, and economic diversification, as well as attracting potential investors and partners. They also discussed challenges and successes in the startup ecosystem.

Economic, trade, and investment relations between Vietnam and Switzerland have been developing positively in recent times, with exports, tourism, and information technology services emerging as key areas of great cooperation potential.

Vietnam views Switzerland as one of its most important partners in Europe, while the Central European country also considers Vietnam to be its most dynamic economy in Southeast Asia, a strategic partner with which to build linkages within the regional economy.

Thanks to its strategic location, socio-political stability, cheap but highly skilled labour force, and deep global integration, Vietnam is widely viewed as an attractive destination for foreign investors, including those from Switzerland.