Vietnam invites Swiss investors to join international financial centre

Vietnam invites Swiss investors to join international financial centre

Deputy Prime Minister Nguyen Van Thang has chaired a business dialogue in Zurich to promote Vietnam's investment opportunities in finance and high technology.

Roundtable "Vietnam - new business opportunities in the era of financial and high-tech cooperation" in Zurich. Photo: Anh Hien - TTXVN in Switzerland

The event took place on July 28 during a working visit to Switzerland, bringing together representatives from Swiss and European investors, financial institutions, and technology companies, including Bowman & Fitzhugh Group, Zurich Cantonal Bank, and Swiss Global Enterprise.

Addressing the dialogue, Thang highlighted the event's significance as Vietnam and Switzerland mark the 55th anniversary of diplomatic relations (1971–2026), following the conclusion of negotiations on the Vietnam-EFTA Free Trade Agreement.

Reaffirming the Vietnamese government's commitment to further improving the investment climate, developing infrastructure, and supporting businesses throughout their investment and operational activities in Vietnam, the DPM encouraged Swiss financial groups, investment funds, and technology companies to participate in the development of Vietnam's International Financial Centre (VIFC).

He also invited them to expand investment in high-potential sectors, including high technology, AI, semiconductors, pharmaceuticals, medical devices, green finance, and the circular economy.

Swiss and European investors expressed strong interest in Vietnam's socioeconomic achievements and spoke positively about the country's decision to establish a VIFC in Ho Chi Minh City and Danang.

Participants sought further clarification on foreign ownership policies, the application of advanced technologies, particularly AI, in financial services, insurance, and digital infrastructure, as well as Vietnam's plans for developing its capital and bond markets and strengthening the legal framework governing securities.

Many delegates also raised questions about tax policies, investment incentives, the VIFC's role in connecting Vietnam with the global financial ecosystem, and the development of long-term financing instruments, including real estate investment trusts.

Nguyen Thi Bich Ngoc, Deputy Minister of Finance. Photo: Anh Hien – TTXVN in Switzerland

Responding to investors' questions, Nguyen Thi Bich Ngoc, Deputy Minister of Finance, and State Securities Commission chairwoman Vu Thi Chan Phuong outlined Vietnam's priorities, policy direction, and regulatory framework for building the VIFC, developing the capital market, upgrading the country's stock market classification, and attracting foreign investment.

Discussions at the event reflected growing interest among Swiss and European businesses and investors in Vietnam's market, particularly the establishment of VIFC.

Later the same afternoon, DPM Thang met Monica Rubiolo, a board member, together with senior representatives of Economiesuisse - the Swiss Business Federation, Switzerland's largest umbrella organisation representing the interests of the country's private sector.

Rubiolo said she was honoured to meet the DPM and discuss opportunities to deepen business cooperation between Switzerland and Vietnam. She noted that the Vietnam-EFTA Free Trade Agreement would create new opportunities for companies from both sides to diversify markets, business partners, and supply chains amid increasing uncertainty in global trade.

She also highlighted significant potential for bilateral cooperation in digital transformation, AI, and innovation, while sharing Switzerland's experience in developing an international financial centre based on transparency, good governance, and a stable legal framework.

DPM Thang reaffirmed that Vietnam highly values the role and contributions of Economiesuisse in strengthening economic relations between the two countries.

Welcoming the association's recommendations, he encouraged Economiesuisse to motivate its members to continue investing in Vietnam and share international experience that could help the country improve its foreign investment policies, foster innovation, support business development, and deepen Vietnam-Switzerland economic cooperation.

Photo: Anh Hien - TTXVN in Switzerland

Also on July 28, the DPM met Vietnamese professionals, researchers, and overseas Vietnamese living and working in Switzerland.

The meeting brought together Vietnamese experts employed by leading financial institutions, banks, investment funds, technology companies, and research organisations, including Rothschild & Co Bank, Zurich Insurance, Adobe, Avaloq, Climeworks, Energy Infrastructure Partners, as well as Swiss research institutes, consulting firms, and law firms.

The DPM commended the participants for their valuable contributions and reaffirmed that the Party and state regard overseas Vietnamese as an inseparable part of the nation and an important resource for Vietnam's development.

He said Vietnam is accelerating institutional reforms while promoting sci-tech, innovation, and digital transformation. Emerging sectors, including digital finance, digital assets, and fintech, are being prioritised to create better conditions for experts both at home and abroad to contribute their knowledge and expertise.

Representatives of the overseas Vietnamese community thanked the DPM for taking the time to listen to their views and expressed pride in Vietnam's development achievements.

The participants put forward a range of recommendations to support the country's development, particularly in finance, technology, and sustainable development. They also called for more regular communication channels with domestic authorities to facilitate knowledge sharing and policy consultation.

They stressed the importance of maintaining a stable, transparent, and predictable policy environment to strengthen investor confidence.

The DPM asked ministries, relevant agencies, and the Vietnamese Embassy in Switzerland to continue strengthening connections with the Vietnamese expert community by developing sector-specific networks and databases. He said these efforts would help boost domestic and international cooperation programmes and projects while making better use of the expertise of overseas Vietnamese in support of the country's long-term development.

VIR