Vietnam-Switzerland economic cooperation has particularly large potential

On September 8, the Vietnam-Switzerland Cooperation Seminar on Trade, Investment and Technology (Vietnam Day 2023) took place in Zurich, the country's major financial center.

Dư địa hợp tác kinh tế Việt Nam-Thụy Sỹ đặc biệt lớn

Some Vietnamese agricultural products in Switzerland. (Source: SVBG)

The seminar was co-organized by the Vietnamese Embassy in Switzerland, the Vietnamese Ministry of Industry and Trade , the Swiss-Asian Chamber of Commerce, Bellecapital Financial Investment Fund, Keep It Beautiful Vietnam (KIBV) and the Association of Vietnamese Intellectuals and Professionals in Switzerland (AIEVS).

The event attracted the participation of 150 delegates representing ministries, sectors, localities, economic experts, financial investment funds and enterprises of the two countries. In addition, many Vietnamese enterprises attended and spoke online, focusing on three topics: Trade, investment and sustainable technology ecosystem.

Speaking at the opening of the seminar, Vietnamese Ambassador to Switzerland Phung The Long said that after more than 50 years of establishing diplomatic relations, in the context of rapid and profound changes in the international situation, with challenges and opportunities intertwined, senior leaders of Vietnam and Switzerland both wish and agree to soon bring bilateral cooperation to a new level, on the basis of mutual trust and shared common values of peace, cooperation and development.

Ambassador Phung The Long emphasized: "In February 2023, Switzerland issued the Southeast Asia strategy for the period 2023-2026. The strategy identifies Vietnam as the most dynamic economy in Southeast Asia and an increasingly important partner of Switzerland.

On the Vietnamese side, the Government always attaches importance to the friendly and cooperative relations with Switzerland, considering Switzerland one of its important partners in Europe. The two countries are actively negotiating to soon conclude and sign the Free Trade Agreement between Vietnam and the European Free Trade Association (EFTA), of which Switzerland is a member.

Mr. Tran Sy Thanh, Member of the Party Central Committee, Chairman of the Hanoi People's Committee, said that in the context of Vietnam aiming to become a developed, high-income country by 2045, with the strengths in technology, engineering, and experience of Swiss enterprises, the room for economic cooperation between the two countries is particularly large; especially in Hanoi - the center of economics, research and development, innovation, high technology, digital technology, smart cities, green economy, circular economy, etc.

For his part, Swiss Ambassador to Vietnam Thomas Gass emphasized that the relationship between the two countries has developed strongly over the past 52 years, not only in the fields of politics and multilateral cooperation, but also expanding to economic cooperation, technical assistance, trade, investment, scientific research, culture, tourism, and people-to-people exchange. Regular high-level exchanges between the two countries have created the premise for trade and investment relations to continuously increase.

The visit to Vietnam in June 2023 by President of the Swiss House of Representatives Martin Candinas contributed to strengthening the good cooperative relationship between the two countries and consolidating the good relationship between the two countries' legislatures.

The discussion was lively, with two discussion sessions and three roundtables.

At the first roundtable, speakers and delegates exchanged and discussed promoting bilateral trade cooperation. Delegates agreed that there are still many untapped opportunities and areas for both sides to develop and innovate together. The free trade agreement between Vietnam and EFTA, of which Switzerland is a member, is still one of the important issues that requires special attention and efforts from both countries.

Businesses hope that the EFTA Agreement will be signed soon so that the business community can take advantage of development cooperation opportunities, promote the flow of goods and investment capital between the two sides.

At the second roundtable , speakers discussed the development of a sustainable startup ecosystem in Vietnam. According to the speakers, the startup ecosystem in Vietnam has been contributing to the country's economic and scientific and technological development over the past decade, marking the formation and development of young entrepreneurs and intellectuals. Creativity and innovation in management and business models not only contribute to the development of Vietnam in particular but also to the global sustainable development goals in general.

Delegates also shared experiences and inspired young businesses from the two countries, saying that startups need guidance from experienced people to have access to capital and a supportive ecosystem.

At the third roundtable, speakers discussed investment opportunities in Vietnam.

Looking at the opportunities for foreign direct investment in Vietnam from the perspective of a large, long-standing investment corporation, Dr. Laurent Sigismondi at DKSH Group said that the Southeast Asian country has been and is bringing attractive opportunities to businesses.

"DKSH is committed to being part of this journey, leveraging its strengths to support investment and contribute to Vietnam's economic development," emphasized Dr. Laurent Sigismondi.

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