Switzerland invests VND40 trillion in Vietnam

The production line of Switzerland’s Nestlé plant in Hung Yen Province (Photo: tinnhanhchungkhoan.vn)

Switzerland is one of the first western countries to establish diplomatic relations with Vietnam. The two countries have reported better and better development of relations over the past 50 years.

In case of well controlled COVID-19, Switzerland will hold a high-level visit to Vietnam in 2021. Another highlight is the inauguration of the Swiss-sponsored Geneva Conference Room at the Diplomatic Academy of Vietnam, which is expected to take place at the end of the year.

The year 2021 also marks 30 years of economic cooperation and technical assistance between the two countries. The announcement ceremony of the economic cooperation program for the period 2021 - 2024 is expected to take place soon.

In addition, cultural exchange activities are also prepared, including opera and exhibition.

Switzerland established diplomatic relations with Vietnam on October 11, 1971 and the first Embassy opened in 1973 in an office at the Metropole Hotel in Hanoi. The relationship between Vietnam and Switzerland has developed strongly in the past half century, not only in the political field but also expanding into many fields. High-level exchanges between the two countries have created the premise for the ever-increasing trade and investment relationship.

As of 2020, the total direct investment capital of Switzerland in Vietnam reached more than 1.6 billion francs (more than 40 trillion VND), with more than 100 Swiss enterprises operating in Vietnam. Participating in technical assistance and economic cooperation with Vietnam since 1991, the Swiss Government has provided 600 million francs (nearly 15 trillion VND) for Vietnam’s socio-economic development. Since 2020, through the National Science and Technology Development Fund of Vietnam, Switzerland and Vietnam have jointly funded to expand and promote research cooperation between the two countries./.



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