Vietnam, Liechtenstein expand financial and high-tech cooperation
VOV.VN - Vietnam and Liechtenstein will expand cooperation in finance, high technology, innovation and green growth, while moving forward with new frameworks to facilitate trade and investment following talks between their prime ministers in Hanoi on October 18.
Vietnamese Prime Minister Le Minh Hung and Liechtenstein Prime Minister Brigitte Haas discussed ways to build on the two countries’ diplomatic ties, established in 2008, and tap complementary strengths in finance, technology and highly skilled workforce development.
The talks took place after Vietnam and the European Free Trade Association (EFTA) signed a Free Trade Agreement (FTA) following 14 years of negotiations and 21 formal rounds of talks. The two prime ministers also witnessed the signing of a double taxation avoidance agreement between Vietnam and Liechtenstein, adding another framework for closer economic engagement.
New agreements create a framework for trade and investment
Prime Minister Hung welcomed Prime Minister Haas’s visit, the first official high-level visit between the two countries since diplomatic relations were established. He reaffirmed Vietnam’s regard for its ties with Liechtenstein and highlighted the principality’s strengths in science and technology, innovation, finance and high-skilled workforce development.
He noted that these areas complemented Vietnam’s development priorities and could create opportunities to strengthen links between Vietnam, ASEAN and EFTA.
The Vietnamese leader welcomed the new trade agreement and the double taxation avoidance agreement, saying that they could help create more favourable conditions for businesses, reduce tariff and trade barriers, improve market access and strengthen business connections and investment flows.
He also outlined Vietnam’s development goals for 2030 and 2045, with a growth model increasingly driven by science and technology, innovation and digital transformation. Against this backdrop, he encouraged Liechtenstein to share its experience in investment fund development and management, banking, green finance, capital markets and international asset management.
On trade and investment, Prime Minister Hung called for continued efforts to facilitate market access for products from both countries, including Vietnamese seafood and textiles. He also encouraged Liechtenstein businesses to explore investment opportunities in Vietnam in high technology, precision engineering, automation, medical equipment and finance, including potential participation in Vietnam’s international financial centre and capital markets.
Finance, innovation and green growth set priorities for cooperation
Prime Minister Brigitte Haas, for her part, described the visit as an important opportunity to strengthen bilateral relations, dialogue and international cooperation.
She praised Vietnam’s development achievements, growth potential and strategic position, expressing her wish to broaden bilateral ties and make effective use of opportunities created by the new agreements. She identified the Vietnam–EFTA FTA and the double taxation avoidance agreement as important milestones in relations between the two countries.
The two leaders agreed to maintain exchanges at various levels, strengthen cooperation mechanisms and expand collaboration in areas where their economies have complementary strengths. These include finance, science and technology, innovation, digital transformation and high-tech manufacturing.
They pledged to enhance links among regulatory agencies, research institutes, universities and businesses, alongside cooperation in research, technology transfer and high-quality workforce development. Liechtenstein’s experience in investment fund management, asset management, banking, capital markets and securities was identified as a further area for exchange.
Green growth will also form part of the cooperation agenda, with both sides agreeing to strengthen collaboration in the green transition, the circular economy, renewable energy, emissions reduction and climate change adaptation.
The two prime ministers further agreed to work towards the early ratification of the Vietnam–EFTA FTA and promote its implementation once it enters into force.
On regional and international issues, they pledged to coordinate and support each other at the United Nations and other multilateral forums, while promoting multilateralism, respect for international law and a rules-based multilateral trading system.
The signing of the double taxation avoidance agreement at the end of the talks marked a concrete step in efforts to strengthen the legal and economic foundations of Vietnam–Liechtenstein cooperation.
Top leader To Lam highlights new opportunities in Vietnam–Liechtenstein ties
VOV.VN - General Secretary of the Communist Party of Vietnam Central Committee and President To Lam highlighted new opportunities to foster Vietnam-Liechtenstein relations during his meeting with visiting Liechtenstein Prime Minister Brigitte Haas, in Hanoi on October 18.
