Switzerland supports Vietnam in enhancing trade policy and export promotion

The two sides signed an agreement on the implementation of Trade Policy and Export Promotion project

The project runs from 2021-2024 with a total budget of CHF5.627 million ($6.14 million), in which Switzerland’s grant contribution is CHF5 million ($5.45 million) and the counterpart funding from the government of Vietnam and beneficiaries amount to CHF627,000 ($683,810).

Vietnam’s development record over the past 35 years of reform is remarkable. Economic reforms and trade liberalisation have spurred rapid economic growth and development. However, while trade has grown strongly in these years, framework conditions still need further improvement. A lack of strategic orientation in export promotion, and a still fragmented and nascent ecosystem to support companies leave many small businesses struggling to access international markets and international value chains.

The SwissTrade project will help address these challenges through technical assistance to the Vietnamese Ministry of Industry and Trade (MoIT): (1) shaping the key strategic directions for the next 10-year Import-Export Development Strategy of Vietnam; (2) establishing public-private dialogue mechanisms to further the exchange between the private sector and the national authorities on trade policies, trade facilitation and trade promotion; and (3) and strengthening the capacity of Business Support Organizations in delivering export promotion services to small- and medium-sized enterprises (SMEs) to improve their competitiveness and participation in global value chains. Particular attention will be paid to the effects of the COVID-19 pandemic and the promotion of digitisation for Vietnamese SMEs.

Swiss Ambassador to Vietnam Ivo Sieber

Swiss Ambassador to Vietnam Ivo Sieber said at the signing event: “With this project, Switzerland continues its longstanding cooperation in trade development with Vietnam. It will help strengthening the competitiveness of SMEs and supports a more performing, sustainable, and inclusive trade development in Vietnam.”

Vice Minister of Industry and Trade Nguyen Sinh Nhat Tan said at the signing event: “The SwissTrade marks an important milestone in Vietnam’s entry into the implementation of the tasks and goals in the Resolution of the 13^th Party Congress, the 10-year Socio-economic Development Strategy 2021-2030 and the 5-year Socio-economic Development Plan 2021-2025. The project is not only fitting but also underscores both countries’ commitment to Vietnam’s sustainable socio-economic development.”

The Swiss Trade project will be implemented by the MoIT and the International Trade Center. It is a flagship project of Switzerland’s economic development cooperation. The new Cooperation Programme 2021-2024, which is executed by the Swiss State Secretariat for Economic Affairs (SECO), aims at supporting Vietnam in achieving market-based, sustainable growth. It focuses on promoting market-oriented and reliable economic framework conditions, and on enhancing the private sector’s competitiveness and market access.