Vietnam and Switzerland to deepen financial cooperation

Vietnam and Switzerland to deepen financial cooperation

On October 18, at the Ministry of Finance (MoF), Deputy Minister Le Tan Can met with a delegation from Switzerland’s Federal Department of Economic Affairs, Education and Research, accompanied by Swiss businesses and led by State Secretary Helene Budliger Artieda, as part of Swiss President Guy Parmelin’s official visit to Vietnam.

Photo: Duc Minh

Also attending the meeting were Swiss Ambassador to Vietnam Pietro Lazzeri, representatives of the Swiss Agency for Development and Cooperation, the Swiss Business Association, and leaders of investment funds, insurance institutions, and major Swiss corporations.

Deputy Minister Can warmly welcomed the delegation and praised the positive contributions made by Switzerland’s Federal Department of Economic Affairs, Education and Research to strengthening economic, trade, investment, and development cooperation between the two countries.

The MoF viewed the meeting as an opportunity to discuss key areas of cooperation, particularly negotiations and the signing of a new Bilateral Investment Protection Agreement, as well as directions for more effective development cooperation programmes.

State Secretary Helene Budliger Artieda emphasised the central role of the private sector in Switzerland’s development model.

She described Swiss investment in Vietnam as “smart investment,” characterised by a high level of innovation and closely linked to technology transfer and the development of a highly skilled local workforce.

Regarding the new Bilateral Investment Protection Agreement, which is intended to replace the agreement signed in 1992, Deputy Minister Can said that both sides had made significant progress on its scope of application, investment protection standards, and investor-state dispute settlement mechanisms.

State Secretary Artieda outlined proposals to update the agreement in line with modern standards, including provisions on sustainable development, responsible business conduct, and anti-corruption.

Photo: Duc Minh

Deputy Minister Can proposed that negotiations continue in a spirit of cooperation and mutual respect to reconcile the interests of both sides. The two parties are expected to hold direct negotiations on October 30, 2026, to narrow their remaining differences.

Ambassador Pietro Lazzeri stated that Vietnam was a top priority in Switzerland’s economic development policy. Over the past 25 years, Swiss development assistance to Vietnam has not only increased in value but has also shifted significantly towards trade and investment cooperation.

Since 1992, Switzerland has provided nearly CHF 630 million ($765 million) in official development assistance to Vietnam, equivalent to approximately $690 million.

For 2025-2028, the Swiss government has committed to providing approximately CHF 45-55 million ($55-67 million) in non-refundable aid, focusing on three main pillars: sustainable trade and innovation; sustainable public finance and private-sector finance; and climate-resilient industry and agriculture, alongside urban development.

Switzerland has also pledged to continue supporting Vietnam in its efforts to achieve net-zero emissions by 2050, become a high-income country by 2045, and align with the standards of the Organisation for Economic Co-operation and Development.

To deepen financial cooperation, Deputy Minister Can proposed several priority areas for collaboration in the coming period.

Expanding investment in key sectors: Switzerland is encouraged to increase investment in banking and finance, high technology, biotechnology, clean energy, and the green transition, while supporting Vietnamese businesses in integrating more deeply into global value chains.

Cooperation in developing an International Financial Centre (IFC): Vietnam hopes Switzerland will share its experience in capital market management, green finance, and fintech, while encouraging Swiss financial institutions to participate in developing Vietnam’s IFC.

Strengthening trade and investment promotion: Both countries will seek to enhance connections between their business communities while facilitating opportunities for Vietnamese companies to explore investment prospects in Switzerland.

Photo: Duc Minh

Vietnam’s MoF reaffirmed its commitment to supporting Swiss investors and providing a favourable, transparent business and investment environment. Relevant departments will work closely with the Swiss Embassy to translate potential areas of cooperation into concrete initiatives in the coming period.

As of the end of September 2026, Switzerland had 244 active investment projects in Vietnam, with total registered capital of approximately $2.5 billion, ranking 20^th among the 150 countries and territories investing in Vietnam.

Around 89 per cent of this investment was directed towards manufacturing and processing, while Swiss capital was also expanding into wholesale and retail trade and real estate across 17 key cities and provinces. Several Swiss multinational corporations, including Nestlé, Roche, and MSC, have established successful operations in Vietnam.

VIR