Vietnam Creates Favorable Conditions For Swiss Businesses

Vietnamese and Swiss businesses, and localities discussed support policies and cooperation potential of the two countries' businesses.
The Vietnamese Embassy in Switzerland and the Swiss-Viet Economic Forum (SVEF) jointly organized the 2024 Vietnam-Switzerland Economic Forum themed "Strengthening Ties, Building Futures" on Tuesday.

The hybrid forum, supported by the Swiss Federal Department of Economic Affairs, Education and Research (EAER) and the Vietnamese Ministry of Foreign Affairs and other relevant ministries, draw the participation of over 200 delegates.

Deputy Minister of Foreign Affairs Nguyen Minh Hang speaks at the opening of the Vietnam-Switzerland Economic Forum 2024.

Speaking at the forum, Ambassador Phung The Long emphasized that the Vietnam-Switzerland Economic Forum 2024 is an opportunity for central and local ministries, associations and businesses of the two countries to share information and exchange policies.

The two sides seek opportunities to cooperate in trade, investment, finance, innovation, research and training to promote the potential and strengths of each country. This contributes to strengthening friendly relations and comprehensive cooperation between Vietnam and Switzerland in the coming time.

The forum highlighted four strategic topics, including economic policies supporting trade, investment, and development in key sectors, Vietnam-Switzerland cooperation, opportunities for bilateral cooperation in financial sector, and potential for bilateral collaboration in start-up investment.

In her opening speech, Deputy Minister of Foreign Affairs Nguyen Minh Hang appreciated the initiative to organize the forum. This represents the efforts of the Vietnamese Embassy in Switzerland, ministries, branches and localities of Vietnam and Switzerland.

Deputy Minister Nguyen Minh Hang emphasized that after more than 50 years of establishing diplomatic relations, bilateral relations between Vietnam and Switzerland have developed well with economic and trade relations being an important pillar.

Many large Swiss enterprises such as Nestle, Novartis, Roche, and ABB have chosen Vietnam as a long-term investment destination.

Based on bilateral cooperation and the potential of the two economies, localities and businesses of the two countries have opportunities to promote trade and investment cooperation in the fields of finance, renewable energy, innovation, digital transformation, insurance, and agriculture.

The Vietnamese Government is ready to create favorable conditions for Swiss investors and businesses to cooperate and do business in Vietnam.

At the event, participants discussed and shared policies and cooperation needs in key areas of investment, innovation and renewable energy for sustainable development, and provided consultations on legal regulations in cooperation between businesses of the two countries.

At the forum. Photo: Vietnamese Embassy in Switzerland

In the context of unpredictable world developments, forecasts continue to reflect slow growth, and the Vietnamese economy faces challenges and difficulties. However, Vietnam has maintained macroeconomic stability, controlled inflation, and ensured major balances of the economy with appropriate policies, and drastic actions.

Economic, trade, and investment relations between Vietnam and Switzerland have been developing positively in recent times. Several fields in Vietnam are assessed by Swiss investment funds to have great potential, especially exports, tourism, and information technology services.

Vietnam considers Switzerland to be one of its important partners in Europe and vice versa, Switzerland also considers Vietnam to be the most dynamic economy in Southeast Asia, a strategic partner for regional economic cooperation.

Thanks to its strategic location, stable society, cheap but highly skilled labor force, and strong global integration, Vietnam has been and continues to be an attractive destination for foreign investors, including Swiss investors.

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