Vietnam and Switzerland strengthen relations following 35 years of joint development cooperation
Ha Noi - Celebrating 35 years of fruitful collaboration, Switzerland and Vietnam joined forces on Thursday to reaffirm their commitment to a forward-looking partnership in areas of sustainable economic growth, innovation, and climate resilience.
Swiss Ambassador Thomas Gass addressed a seminar in Ha Noi, highlighting the substantial impact of their $800 million investment in the country since the onset of formal development cooperation in 1991. The funds, he pointed out, had been directed towards initiatives as diverse as public leadership, private sector entrepreneurship, and sustainable financial systems.
The relationship, drawn from shared ideals of inclusive and sustainable development, has seen a shift from traditional aid to strategic partnerships over the decades. Organizations like the State Bank of Vietnam, the Ministry of Industry and Trade, and the Ministry of Construction have benefitted from Swiss expertise in areas such as capacity-building and knowledge transfer.
The Swiss Ambassador applauded the progress made over the years, acknowledging the many tangible results achieved across these sectors. For instance, their assistance had helped stabilize the financial system, expanded access to capital for small businesses, and fostered environmentally responsible practices in industry and urban development.
The impact of the partnership has been evident beyond policy reforms, particularly in the lives of farmers, entrepreneurs, and communities, transforming Vietnam into a dynamic economic powerhouse.
Thomas Gass, Switzerland's Ambassador to Việt Nam, delivered a speech at the seminar on Thursday afternoon in Hà Nội. - VNS Photo Ly Ly Cao
Trade and innovation have also played a crucial role in the bilateral relationship. Though negotiations for a free trade agreement with Switzerland and other countries are progressing slowly, Vietnam remains optimistic about unlocking the mutual benefits such a deal would offer. Additionally, the presence of Swiss technology in Vietnamese enterprises, from equipment manufacturers like Bühler to healthcare, construction, and IT companies, demonstrate the growth potential of the partnership.
Switzerland's future commitment to Vietnam involves a $50 million development plan for the 2025-2028 period. The focus will be on facilitating sustainable trade, strengthening public and private finance systems, and advancing climate-smart development in line with Vietnam's aspirations of high-income status by 2045 and achieving net-zero emissions by 2050.
Reflecting on the partnership, Ambassador Gass emphasized the shared purpose of turning challenges into opportunities and ensuring that Vietnam's economic transformation is not only quantitative but also qualitative, focusing on fairness and inclusivity.
In conclusion, the Swiss-Vietnamese development partnership has traversed three decades of cooperation, reinventing itself from traditional aid to a transformative collaboration aimed at driving sustainable socio-economic progress. The upcoming years promise an expansion of trade opportunities, enhanced public finance capabilities, and a focus on green and innovative practices.
Delegates attend a discussion panel at the event. - VNS Photo Ly Ly Cao
- The Swiss Ambassador, Thomas Gass, noted the significant impact of Switzerland's $800 million investment in various sectors, including policy, finance, and climate resilience, since 1991.
- Organization such as the State Bank of Vietnam, Ministry of Industry and Trade, and Ministry of Construction have benefited from Swiss expertise in capacity-building and knowledge transfer.
- The partnership between Switzerland and Vietnam has led to tangible results, including stabilizing the financial system, expanding access to capital, and fostering environmentally responsible practices.
- Trade and innovation have been essential to the bilateral relationship, with progressing negotiations for a free trade agreement and the presence of Swiss technology in Vietnamese enterprises.
- Switzerland's future investment plan for the 2025-2028 period focuses on sustainable trade, strengthening financial systems, and advancing climate-smart development.
- Ambassador Gass emphasized the importance of turning challenges into opportunities and ensuring that Vietnam's economic transformation is not only quantitative but also qualitative, focusing on fairness and inclusivity.
- The partnership between Switzerland and Vietnam, spanning three decades, is set to expand opportunities in trade, enhance public finance capabilities, and prioritize green and innovative practices in the upcoming years.
