Today, Vice President of Switzerland Ignazio Cassis and Minister of Planning and Investment, Nguyen Chi Dung, launched the new Cooperation Programme 2021-2024 of Switzerland.
|Vice President of Switzerland Ignazio Cassis and Minister of Planning and Investment of Vietnam Nguyen Chi Dung |
The new programme defines the strategic framework for future economic development cooperation with an aim to support Vietnam in achieving market-based and sustainable growth. It foresees commitments of CHF70 million ($77.2 million) of official development assistance (ODA) grants.
Under the new Cooperation Programme, Switzerland will provide support focusing on promoting market-oriented and reliable economic framework conditions and enhancing the private sector’s competitiveness and market access. In particular, the programme will focus on strengthening public financial management, competitiveness, and integration of small- and medium-sized enterprises (SMEs) into international value chains, the creation of decent income opportunities, the promotion of sustainable trade, the modernisation of the financial sector, the improvement of the business-enabling environment, as well as the enhancement of urban planning. Gender equality and climate change will be cross-cutting themes guiding the Swiss engagement.
The new Cooperation Programme 2021-2024 will be implemented by the State Secretariat for Economic Affairs (SECO) and is well aligned with the Socio-Economic Development Plan (SEDP) 2021-2025 of Vietnam. It will integrate the new challenges of the current COVID-19 pandemic and support the country’s efforts to build a more sustainable, inclusive and resilient economy after the crisis and to remain on track to become a high-income country by 2045.
“The launch of the new Cooperation Programme underscores both our countries’ commitment to a partnership that has grown strong and deep over the past half century," said Ignazio Cassis, Vice President of Switzerland.“The key orientation in the Program that SECO is sharing with us today has been reviewed and assessed by relevant Vietnamese agencies. It is highly relevant and responsive to Vietnam’s needs in the coming year," said Nguyen Chi Dung, Minister of Planning and Investment of Vietnam.
The Socialist Republic of Vietnam and the Swiss Confederation established diplomatic relations in 1971, and the Swiss government ODA programmes started in 1991. By the end of 2020, Switzerland had contributed CHF600 million ($663 million) to Vietnam’s socio-economic development and reform agenda. In line with the rapid development over the past three decades, Switzerland continues to adjust its ODA programmes, focusing today on economic development cooperation.
Over the last years, through its economic development cooperation Switzerland contributed to a more effective and transparent public finance management notably by assisting in the development of the new Public Debt Management Law.
It also supported the strengthening of environmental, social, and governance standards in the corporate sector, the provision of business support services to assist SMEs to integrate into global value chains, the deepening of the financial market, and the simplification of business registration. The cooperation furthermore contributed to the development of the Ninh Thuan solar power plant, supporting Vietnam’s transition to renewable energy sources and setting a benchmark for the development of such projects.