Prime Minister Pham Minh Chinh called for Swiss investment in areas such as banking and finance, insurance, manufacturing, pharmaceuticals, agricultural processing, renewable energy, and tourism at a meeting with President of the National Council of Switzerland Martin Candinas in Hanoi on June 30, according to the Vietnam  Government Portal (VGP). 

The Prime Minister emphasized that the Vietnamese Government welcomes Swiss enterprises and will create favorable conditions for them to expand their investment and operate business long term.

Switzerland is now an important economic partner of Vietnam in Europe, ranking 22nd out of 141 countries and territories with investment in the country, in 206 FDI projects with capital of over $1.9 billion.

From 1991 to 2021, Switzerland also provided about $600 million in official development assistance (ODA) to Vietnam.

Prime Minister Chinh suggested that Switzerland continue pushing ahead with negotiations over a free trade agreement between Vietnam and the European Free Trade Association (EFTA).

Vietnam is willing to coordinate with Switzerland and other EFTA members in narrowing gaps in issues still pending between the two sides, he said.

The government leader proposed the two countries promote cooperation in other fields, like innovation, digital transformation, green transition, circular economy, and the sharing economy.

Mr. Candinas said Vietnam plays a strategic role in Switzerland’s relations with Southeast Asia. Swiss businesses, including Nestle, are pleased with Vietnam’s business environment and plan to continue making long-term investments in the country.

Switzerland will continue prioritizing Vietnam in development assistance and promoting cooperation in personnel training with the country, he said, adding that it hopes a free trade agreement between Vietnam and the EFTA will be signed next year.