Vietnam-Switzerland ties gain momentum

Photo: Duc Minh

Deputy Minister Phuong conveyed his gratitude to the Swiss government for its non-refundable aid to Vietnam, noting that support packages in recent phases have been larger than in previous periods.

"Over the years, Swiss development assistance has played an important role in helping Vietnam achieve its socioeconomic development and sustainable development goals," he said.

In addition to general support for Vietnam, the finance sector has received significant grants and technical assistance from the Swiss government (through SECO – the Swiss agency responsible for development cooperation) across key reform areas, including state budget management, public debt management, public asset management, treasury operations, and private sector development.

Deputy Minister Tran Quoc Phuong said, "Swiss-funded technical assistance projects have delivered notable and meaningful results for Vietnam’s socioeconomic development."

Regarding trade and investment cooperation, he noted that the upgrade of Vietnam-Switzerland relations to a Comprehensive Partnership in January 2025 marked an important milestone, reflecting a high level of political trust and a growing demand for deeper economic cooperation.

After more than 55 years of diplomatic relations and the recent upgrade, bilateral economic ties have continued to develop positively, particularly in investment and trade.

"Vietnam has become an increasingly attractive destination for foreign investors, including those from Switzerland. With supportive business policies and a steadily improving investment environment, Vietnam holds strong potential to attract further Swiss investment," the deputy minister said.

Currently, Switzerland ranks among the important investors in Vietnam, with 237 valid projects and total registered capital exceeding $2.4 billion. However, this cooperation has yet to fully match the potential, especially in sectors where Switzerland has global strengths, such as financial, banking and insurance services; asset management; fintech and innovation; and high-value-added services.

Both sides see ample room for expanded cooperation in areas such as innovation, sci-tech; green and green finance; high-quality human resource training; digital and green transformation; pharmaceuticals; and the development of an international financial centre in Vietnam.

The deputy minister expressed his wish to work closely with Swiss partners to create the most favourable conditions for Swiss enterprises to invest in Vietnam.

During the meeting, Deputy Minister Tran Quoc Phuong and State Secretary Helene Budliger Artieda discussed issues related to the Ministry of Finance’s state management functions, including public finance, development assistance, the state budget, international cooperation, and investment.

Both sides clarified priorities for future cooperation, focusing on areas of mutual interest while creating opportunities for Vietnam to advance initiatives in public finance reform, improve the efficiency of aid utilisation, and expand investment cooperation.

The two sides also exchanged views on the progress of negotiations on an Investment Protection Agreement and a Free Trade Agreement between Vietnam and Switzerland, aimed at establishing a favourable legal framework for businesses in both countries.

Representatives engaged in in-depth discussions on aligning key concepts such as sustainable development, while emphasising the importance of transparency, business ethics, and anti-corruption efforts.

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