Swiss investors eyes Danang as potential investment destination

The seminar was co-organised by Danang and the Swiss-Vietnamese Business Gateway with the support of the Geneva Chamber of Commerce, Industry & Services.

According to Ambassador Le Thi Tuyet Mai, permanent representative of Vietnam to the United Nations, World Trade Organization and other International Organizations in Geneva, Switzerland, Vietnam is a member of ASEAN, a promising market and venue for investment with a wide-ranging network of free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

Vietnam is also under free-trade negotiations with EFTA countries. Foreign investment, including those of Swiss investors, into Vietnam and Danang, especially in the fields of green finance, banking, innovation, e-commerce are welcome and encouraged.

She added that Danang held an important strategic position in Vietnam’s socioeconomic development.

The national plan for development of Danang to 2030 set a goal of "building Danang city into one of the major socioeconomic centres of the country and Southeast Asia, and a hub for entrepreneurship, innovation, tourism, commerce, finance, logistics, high-tech industry, and IT."

Due to its economic potential, Danang has been earmarked by Vietnam’s leaders for the establishment of an international financial centre by 2045.

Several billions of dollars, institutional and legal reforms, financial market supervisory regulations adjustments and investment incentives are expected to power this ambitious mega-project, while foreign technical assistance and investments are actively sought.

Ho Ky Minh, Standing Deputy Chairman of Danang People’s Committee said, "Danang has researched and proposed to the central government specific mechanisms and policies to establish Danang as an international financial centre."

"To have specific and preferential policy proposals to be put into practice, Danang suggested the government and the National Assembly of Vietnam to issue a resolution on developing international financial centres in Vietnam, in which Danang is defined as one of the localities," Minh said.

He added that Danang also pays special attention to developing high-tech industries. Since 2012, the city has focused on calling for investment to build and complete the infrastructure of Danang Hi-Tech Park, one of three national high-tech parks and the only one in the central region. The Danang Hi-Tech Park is given a target of raising its contribution to at least 10-15 per cent of the city's GRDP in the 2025-2030 period.

"This seminar is a prerequisite for an effective connection between Danang and the business community and investors in Switzerland who are interested in and plan to expand investment and business in the high-tech field," he added.

The seminar was held on the sideline of the trip led by Minh to visit the United Kingdom, Switzerland, and Germany from May 22-30.

The seminar attracted members of banks, fintech, crypto, IT companies, law and consulting firms to meet with the Danang delegation and find out about business opportunities in the city.

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